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

Abandoned Rail Brewing Company, located at 1220 Davenport Ave. on the KVR trail, has applied to the City of Penticton for a manufacturing facility and lounge endorsement. The city will review the application in their April 20, 2021 council meeting. (City of Penticton photo)
Penticton could be getting a new brewery on the KVR trail

The patio would seat up to 113 just 10 feet from the trail

courts
Penticton man guilty of assaulting young boys

Bryan Lamb was found guilty of two counts of assault

A 3 a.m. RV fire on Keremeos’ Main Street gave neighbours and early morning wake-up call. (Contributed)
RV engulfed in flames spreads to neighbouring camper in Keremeos

The occupant of the RV was not home during the early morning fire

letter
LETTER: Do we want alcohol in all aspects of our lives?

Ask Pathways how that is working out for people, says letter writer

A controlled burn got underway at Crater Mountain on Sunday, with smoke seen in Keremeos and Hedley. (Submitted)
A controlled burn got underway at Crater Mountain on Sunday, with smoke seen in Keremeos and Hedley. (Submitted)
Smoke and fire visible from Highway 3 is a prescribed burn

The controlled burn on Crater Mountain is to help bighorn sheep habitat

Public health restrictions on non-essential travel and vacation bookings are being increased in B.C. (B.C. government)
Out-of-region B.C. vacation bookings, RV ferry reservations to be refused, Horgan says

B.C. extends COVID-19 indoor dining, group fitness ban until May 25

Sunday’s storm rocked one of the ferries crossing Kootenay Lake. Photo: Dirk Jonker
VIDEO: Storm makes for wild ferry ride across Kootenay Lake

The video was captured by ferry employee Dirk Jonker

Dr. Bonnie Henry gives her daily media briefing regarding Covid-19 for the province of British Columbia in Victoria, B.C, Monday, December 7, 2020. THE CANADIAN PRESS/Jonathan Hayward
BREAKING: Toddler marks youngest British Columbian to die related to COVID-19

Child one of eight people to die from virus this weekend

Chakalaka Bar & Grill remains open in defiance of orders from Island Health to close. (Cole Schisler photo)
B.C. health authority seeks injunction against restaurant defying COVID-19 orders

Chakalaka Bar and Grill plans to continue serving customers without public health compliance

(Phil McLachlan/Capital News/Stock)
UPDATE: Large police presence at Kamloops mall following alleged armed robbery

Police were called to a business near the mall about 12:45 p.m.

Size two avalanche on a cliff at Big White (Photo: Facebook/Big White Ski Resort)
‘Dangerous’ avalanche hits Big White Mountain

‘That’s a big avalanche — you don’t mess around with that’

Pharmacist Barbara Violo arranges all the empty vials of the Oxford-AstraZeneca COVID-19 vaccines that she has provided to customers at the Junction Chemist which is a independent pharmacy during the COVID-19 pandemic in Toronto, on Monday, April 19, 2021. THE CANADIAN PRESS/Nathan Denette
B.C. to open up AstraZeneca vaccines for all people 40+, set up clinics in hot spots

A total of 13 neighbourhoods and communities will receive the AstraZeneca vaccine

(File photo)
Car runs light, hits van which smashes into Kamloops police car

The van then caught fire which was extinguished by a Kamloops Mountie

Most Read