Royal Bank president Dave McKay speaks at the Royal Bank of Canada annual meeting in Toronto on Thursday, April 6, 2017. THE CANADIAN PRESS/Frank Gunn

Royal Bank president Dave McKay speaks at the Royal Bank of Canada annual meeting in Toronto on Thursday, April 6, 2017. THE CANADIAN PRESS/Frank Gunn

Canada needs to be more inclusive, fair and sustainable: RBC CEO

Dave McKay says that means addressing climate change and inequities that hold people back

The head of Royal Bank of Canada says the country urgently needs to become more inclusive, fair and sustainable because the COVID-19 pandemic revealed the society we live in is not best for everyone.

Speaking at the bank’s annual meeting, chief executive Dave McKay says reaching those goals will mean addressing climate change, inequities that hold people back, the future of work and the digital economy.

McKay says he considers climate change to be the most pressing issue of our time because it is costing economies billions of dollars in damage and lost productivity, so RBC is boosting its sustainable financing target to $500 billion by 2025 and pledging to achieve net-zero emissions by 2050.

He says there is a need to address systemic racism, so the bank has committed to ensuring Black, Indigenous or persons of colour make up 30 per cent of its executive appointments and 40 per cent of the 1,400 students it will hire this summer.

McKay believes the country should also focus on mental health and preparing people for a different future because the pandemic has transformed how and where we work and increased the need for new skills.

He says the pandemic has shown Canada needs investments in technology and talent as it grapples with a digital-first economy, changing consumer behaviours and the rewiring of our supply chains and services.

The Canadian Press

BusinessCoronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The Fraser Valley Bandits chose Brandon University’s Anthony Tsegakele in the first round of the 2021 CEBL Draft. (Submitted)
Fraser Valley Bandits reveal 2021 CEBL Draft choices

Abbotsford-based club selects Quebec’s Anthony Tsegakele in first round

Bat Packs are the newest addition to the FVRL Playground, and have everything you need to learn more about bats, and track them in your neighbourhood. (FVRL image)
Bat Packs at Fraser Valley libraries come with echometer to track bats

Packs are the newest part of the FVRL Playground inventory

Among the items that Dorothy Agnew of Abbotsford received for her recent 100th birthday were gifts from the Abbotsford Police Department and a special cake. (Submitted photo)
Abbotsford woman receives more than 600 cards from public for 100th birthday

Dorothy Agnew’s family had made the request to celebrate the occasion on March 18

A drive-by tribute is planned for Abbotsford soccer figure Barry Crocker at Bateman Park on Saturday. (Facebook)
Drive-by farewell planned for Abbotsford soccer figure

Barry Crocker died on April 2, tribute set for Bateman Park on Saturday

Rick Hansen Secondary Students deliver free samosas to students and staff to celebrate Vaisakhi on Tuesday (April 13).
Abbotsford’s Rick Hansen hosts successful ‘Virtual Vaisakhi’

COVID-19 pandemic does not deter enthusiasm for annual festival at local high school

A screenshot from a Nuu-chah-nulth healing song and performance created in collaboration between Hjalmer Wenstob and Timmy Masso. (Screenshot from YouTube)
WATCH: Tla-o-qui-aht First Nation brothers produce COVID-19 healing song

Hjalmer Wenstob and Timmy Masso share dance and inspiration.

Health Canada headquarters in Ottawa. (Sean Kilpatrick/The Canadian Press)
Health Canada releases guidelines for reducing COVID-19 transmission at home

Improve indoor air quality by opening up your windows and doors, among the encouraged ventilation measures

Flow Academy is not accepting membership applications from anybody who has received a dose of the vaccine, according to a password-protected membership application form. (Submitted image)
B.C. martial arts gym refusing patrons who have been vaccinated, wear masks

Interior Health has already issued a ticket to Flow Academy for non-compliance with public health orders

MP Todd Doherty took to Facebook after his family recently received threats. (Todd Doherty, MP Facebook photo)
‘I don’t run and I don’t hide’: Cariboo MP says RCMP probing threats made against family

Todd Doherty has also notified House of Commons Protective Services

Two men walk past a sign on Main Street in downtown Vancouver, B.C., Monday, April 5, 2021. THE CANADIAN PRESS/Jonathan Hayward
Calls for government transparency in COVID data continue as B.C.’s 3rd wave wears on

Social media, where both information and misinformation can spread like wildfire, has not helped

An unidentified B.C. man said, in a human rights complaint, that he was refused a contract job after refusing to wear a mask when asked to by an on-site manager. (Unsplash)
Religious B.C. man lodges human rights complaint after fired for refusing to wear a mask

Worker’s claim that ‘to cover up our face infringes on our God-given ability to breathe’ dismissed by B.C. Human Rights Tribunal

This 2013 Dodge Ram 1500 was stolen from Black Creek Motors at approximately 2 a.m. Sunday, April 11. Photos via blackcreekmotors.com
VIDEO: B.C. car dealer posts clip of thieves towing a truck right off his lot

Video shows one white truck towing another off Vancouver Island lot

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Most Read