BUS400 Final Project: Analysis of RBC's Sustainability Initiatives

This project analyzes the sustainability practices of the Royal Bank of Canada (RBC), focusing on its corporate social responsibility (CSR) initiatives. The assignment explores RBC's commitment to environmental and social responsibility, including financial services, wealth management, and insurance. It highlights RBC's financial contributions to various causes, such as youth, the environment, and the arts. The project delves into RBC's core values (Creativity, Scalability, Responsiveness, Glocality, and Circularity) and how these values are applied in developing its CSR practices. It examines RBC's achievements, including awards for social responsibility and its adoption of a new CSR model. The analysis covers RBC's initiatives in supporting marginalized communities, providing employment opportunities, and reducing greenhouse gas emissions. The project uses frameworks such as CSR 2.0 and principles of Glocality and Responsiveness to assess RBC's approach to sustainable development and its impact on the environment and society. The conclusion summarizes RBC's efforts in safeguarding the environment, supporting the society, and maintaining its leadership position in the industry.

MANAGEMENT

 Self-governing model of business
 Enhance the society and the environment, rather than
allowing something unresponsive
 Generates an optimistic affect on the society
 Important due to Increase in competition (Chandler, 2016)
Corporate social responsibility

 Company was established in the year 1864
in Halifax, Nova Scotia
 Provides financial services higher than sixteen
million customers
 Leading bank in the country of Canada by the
capitalization of market.
 It also does management of wealth , insurance and
provides services to investors
Royal Bank of Canada

Division of funds in the year 2018
 Youths- $29.9 million
 Environment-$7.8 million
 Arts- $7.8
Supporting customers and employees
 Creating opportunities
 Diversity and Inclusivity(Royal Bank of Canada,
2019)
Initiatives for social responsibility

Support the poverty suffering people and women, which is
marginalized
 Providing shelters
 Counseling
 Employment
 lessons regarding enhancing skills
Committee of Halton Multicultural
 Support beginner to do settlement into the Canada
 Employment
 lessons for the language (Jamali & Dima, 2016)
Continue..

Five values
Creativity
Scalability
Responsiveness
Glocality
Circularity
Royal Bank of Canada used these values, while developing practices
Principle of Creativity
Dividing funds in three sections
 Absorption of water
Model of CSR 2.0

Principle of Glocality
Identifies the idea of thought global and perform
local.
More sophisticated in understanding to prevent the
environment (Örtenblad, 2016)
Safeguard the environment
Diminishing the pollution of water
Understanding and awareness of managing the water
Continue..

Principle of Responsiveness
Responding to the problems of the society and the
necessities of the communities
larger transparency, by distributing dangerous resources of
intellectual (Visser & Tolhurst, 2017)
 Providing shelters
 Opportunities of employment
 Training
Continue..

 In the year 2018 decline the emissions of Greenhouse gas
power by 20%.
 Develops the efficiency of the power in operating the
business.
 Adopt the new model of Corporate Social Responsibility
- Reason
- Estimation of the opportunity
- Transform levers
- Governance
- Assessment
Uniqueness of the business

 "Top 50 Most Socially Responsible Corporations“, in the year
2012.
 Lexpert Zenith award for the corporate social responsibility,
in the year 2011.
 In the year, 2011 also awarded for the Top Canadian Bank for
the standards of supplier labor.
 Awarded for most excellent corporate citizens of Canada, in
the year, 2011 (Royal Bank of Canada, 2019).
Achievements of the business

 Develops various practices for safeguarding the
environment and support to the society.
 Adopted the new model for CSR
 Performing better for the sustainable development
 Maintains the position of becoming leader in the industry
 Received achievements in the area of corporate social
responsibility
Conclusion

 Chandler, D. (2016). Strategic Corporate Social Responsibility:
Sustainable Value Creation. Thousand Oaks: SAGE Publications.
 Royal Bank of Canada. (2019). Retrieved 7 20, 2019, from rbc:
https://www.rbc.com/about-rbc.html
 Jamali, & Dima. (2016). Comparative Perspectives on Global
Corporate Social Responsibility. Hershey: IGI Global.
 Örtenblad, A. (2016). Research Handbook on Corporate Social
Responsibility in Context. Cheltenham: Edward Elgar Publishing.
 Visser, W., & Tolhurst, N. (2017). The World Guide to CSR: A
Country-by-Country Analysis of Corporate Sustainability and
Responsibility. Abingdon: Routledge.
References