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

FILE – Wet’suwet’en hereditary chiefs have agreed to sign a memorandum on rights and title with B.C. and Ottawa, but elected chiefs are demanding it be called off over lack of consultation. (Thom Barker photo)
Wet’suwet’en hereditary chiefs, Lake Babine Nation get provincial funding for land, title rights

Government says it’s a new, flexible model for future agreements between Canada, B.C. and First Nations.

I want to fly higher. Eva Moore and her brother Leroy Moore are treated to some high pushes from Simon Temple while swinging at Moose Tot Park on April 15. (Photo: K-J Millar/The Northern View)
Photo Gallery: Prince Rupert tots enjoy fun in the sun

Warmer weather is attracting kids of all ages to play outside

The property on which a residential school (pictured) that was torn down years ago in Lower Post is to be the location of a cultural centre. (Indian Residential School History and Dialogue Centre photo)
Lower Post residential school building to be demolished, replaced with cultural centre

Project to be funded by federal and provincial governments, Daylu Dena Council

The Cancer Care Unit at Prince Rupert Regional Hospital, April 14, will benefit from a $100,000 donation from Prince Rupert Port Authority towards renovations. (Photo: K-J Millar/The Northern View)
Prince Rupert Port Authority donates $100,000 to hospital renovations

Cancer Care Unit at PRRH to undergo upgradesat PRRH to undergo upgrades

Teresa Van sorts bottles at the April 10 Rainmakers Interact Club bottle drive to earn funds for six Seabin garbage collection units for harbours and waterfronts in the local region. (Photo: K-J Millar/The Northern View)
Bottle drive successful with more collected than can be sorted in one day

Rainmakers Interact Club supports local community with funds toward ocean garbage collection units

Rainbow trouts thrashing with life as they’re about to be transferred to the largest lake of their lives, even though it’s pretty small. These rainbows have a blue tinge because they matched the blue of their hatchery pen, but soon they’ll take on the green-browns of their new home at Lookout Lake. (Zoe Ducklow/News Staff)
VIDEO: B.C. lake stocked with hatchery trout to delight of a seniors fishing club

The Cherish Trout Scouts made plans to come back fishing soon

Royal Inland Hospital in Kamloops. (Dave Eagles/Kamloops This Week file photo)
RCMP intercept vehicle fleeing with infant taken from Kamloops hospital

The baby was at the hospital receiving life-saving care

Vancouver Police Const. Deepak Sood is under review by the Independent Investigations Office of B.C. after making comments to a harm reduction advocate Sunday, April 11. (Screen grab)
VIDEO: Vancouver officer convicted of uttering threats under watchdog review again

Const. Deepak Sood was recorded Sunday saying ‘I’ll smack you’ and ‘go back to selling drugs’ to a harm reduction advocate

Provincial health officer Dr. Bonnie Henry prepares a daily update on the coronavirus pandemic, April 21, 2020. (B.C. Government)
B.C.’s COVID-19 infection rate persists, 1,005 new cases Friday

Hospitalization up to 425, six more virus-related deaths

Premier John Horgan receives a dose of the AstraZeneca COVID-19 vaccine at the pharmacy in James Bay Thrifty’s Foods in Victoria, B.C., on Friday, April 16, 2021. THE CANADIAN PRESS/Chad Hipolito
B.C. Premier John Horgan gets AstraZeneca shot, encourages others

27% of residents in B.C. have now been vaccinated against COVID-19

The Nautical Dog Cafe at Skaha marina is getting its patio ready in hopes Mother Nature will provide where provincial restrictions have taken away indoor dining. (Facebook)
‘A lot of instability’: B.C. restaurants in layoff limbo

As COVID-19 cases stay high, restaurants in British Columbia are closed to indoor dining

Prime Minister Justin Trudeau looks on as Deputy Prime Minister and Finance Minister Chrystia Freeland responds to a question during a news conference on Parliament Hill in Ottawa, Tuesday, Aug. 18, 2020. THE CANADIAN PRESS/Adrian Wyld
Expectations high as Trudeau Liberals get ready to unveil first pandemic budget

The Liberals will look to thread an economic needle with Monday’s budget

Since April 4, 38 flights with COVID-19 cases have departed from Vancouver International Airport, while 23 arrived. (Phil McLachlan/Capital News)
Vancouver the largest source of domestic flights with COVID-19 cases: data

This month alone, 38 flights with COVID-19 cases have departed from Vancouver International Airport, while 23 arrived

John Furlong, Own The Podium board chairman and former CEO of the Vancouver Olympics, addresses a Vancouver Board of Trade luncheon in Vancouver, B.C., on Wednesday November 25, 2015.THE CANADIAN PRESS/Darryl Dyck
John Furlong presents 2030 Winter Games vision to Vancouver Board of Trade

Vancouver and Whistler would remain among host sites because of 2010 sport venues still operational

Most Read