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

People are shown at a COVID-19 vaccination site in Montreal, Sunday, April 18, 2021, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes
211 new COVID-19 cases in Interior Health over the weekend

Currently, there are 875 active cases of the virus in the region

A nurse prepares a dose of the COVID-19 vaccine in Kelowna on Tuesday, March 16. As of April 19, more than 230,000 doses have been administered across the Interior Health region. (Phil McLachlan/Black Press)
More than 230K doses of COVID-19 vaccine administered across Interior Health

A total of 220,216 first doses and 13,775 second doses have been given to residents across the B.C. Interior

A class is in isolation after a potential exposure at J.V. Humphries School in Kaslo. Photo: School District 8
Kaslo school’s class isolated due to possible COVID-19 exposure

A class at J.V. Humphries School is home for the week

Village council saw an application to build a seven foot fence around a 3rd Ave. property in Nakusp. (Jocelyn Doll-Revelstoke Review)
Village of Nakusp sees application for seven foot fence

Council raised concerns about curb appeal

Elvira D’Angelo, 92, waits to receive her COVID-19 vaccination shot at a clinic in Montreal, Sunday, March 7, 2021, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes
110 new cases of COVID-19 in Interior Health

Provincial health officers announced 1,005 new cases throughout B.C.

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

Families of two of three workers killed in a train derailment near Field, B.C., in 2019 have filed lawsuits accusing Canadian Pacific of gross negligence. The derailment sent 99 grain cars and two locomotives off the tracks. THE CANADIAN PRESS/Jeff McIntosh
Families of workers killed in Field train derailment allege negligence in lawsuit

Lawsuits allege the workers weren’t provided a safe work environment

(New Westminster Police)
4 youth arrested after 30-person brawl in New Westminster leaves 1 seriously injured

Police are looking for witnesses who saw the incident take place

South Surrey’s Paul Cottrell, who works with the DFO, tows a grey whale out of Semiahmoo Bay Sunday. (Contributed photo)
Dead whale floating near White Rock towed to shore for necropsy

Animal has been dead since at least April 15

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
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

Kimberley's Steve Tersmette has published Waterfall Hikes In Southern British Columbia, documenting 100 of the areas waterfalls.
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

Most Read