RBC takes action to help companies manage their carbon emissions

Royal Bank of Canada (RBC) most recently announced the signing of a new partnership. The latter allows it to create a link with the Carbonhound automated greenhouse gas reporting platform. The main outcome is the proposal for a new value-added service for Canadian Bank clients.

FACTS

• RBC's new partnership with Carbonhound focuses on enriching the bank's service offerings to its business customers of all sizes and industries.

• The latter will now have access to new automated solutions to manage their carbon emissions, directly on the Carbonhound platform. They may:
  • automate the collection of their emission data,
  • simplify their reporting of emissions (through personalized reporting, comparison of results with competitors, and customer and prospets impact measures),
  • measuring their climate action (e.g. through tools that enable companies to set emission reduction targets).

• RBC and Carbonhound will enable RBC's corporate customers to manage their entire carbon emissions process.

ISSUES

• Helping business customers adapt RBC highlights the need for Canadian companies to report their carbon emissions and the measures they take to reduce them. Its partnership with Carbonhound aims precisely to provide them with the tools necessary to comply with the regulatory requirements that currently weigh on their business.

• Optimize their management : Beyond the purely green and committed impact, the new tools offered by RBC via Carbonhound must also promote the information of its client companies. Realising their emissions, they will have the opportunity to optimize their processes, reduce their energy impact and ultimately achieve savings according to the bank

• Promoting a social ecological transition This commitment today by the Canadian Bank underscores its broader strategy to participate in society's transition to a low-carbon economy. If its efforts take the form of the mobilization of its clients, it undertakes also more directly to green its investments since 2019 for example.

PERSPECTIVE

• mobilising traditional banking players to reduce the carbon footprint of their customers, and in particular businesses, is not new. And their positioning can take many forms.

• While RBC today makes the choice of partnership to enrich its services to its end customers, Société Générale Assurances has chosen to launch a service called My Imprint Savings to enable its customers to assess the carbon footprint of their investments since their mobile application.

• Far from customer experience, the BPCE group come for its part in France to strengthen its commitment to the energy transition by signing a contract to support wind energy production.

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