TORONTO, April 19, 2021 /CNW/ - RBC Global Asset Management ("RBC GAM"), the asset management division of the Royal Bank of Canada ("RBC"), is pleased to announce it has released its Task Force on Climate-related Financial Disclosures ("TCFD") report. RBC GAM became a formal supporter of the TCFD in 2020 and this report is RBC GAM's first stand-alone disclosure aligned to the TCFD recommendations. The report discloses data and metrics for the portfolios managed by RBC GAM, and demonstrates its commitment to providing clients with transparent and effective reporting on climate change considerations.
"Climate change is a material factor that can impact economies, markets and societies in an unprecedented way," said Melanie Adams, Vice-President and Head, Corporate Governance and Responsible Investment, RBC Global Asset Management. "RBC GAM believes that considering its financial impacts in our investment approach may enhance long-term, risk-adjusted returns. We are committed to continuously improving and enhancing our approach as new climate data, metrics and insights enable us to better manage the risks and opportunities posed by climate change."
RBC GAM has structured this report, which covers calendar year 2020, based on the TCFD's four recommended pillars: governance, strategy, risk management, and metrics and targets. RBC GAM is committed to continuous improvement and expects that the firm's TCFD disclosures and the actions taken to address climate change will advance over time.
Key highlights of the report:
As RBC GAM continues to implement its approach to climate change, through the course of the coming year the following areas will be of focus:
Earlier this month, RBC also provided an update on its 2020 sustainability highlights by releasing its ESG Performance Report, TCFD Report and Green Bond Report. To learn more about these reports, please visit here.
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About RBC Global Asset Management
RBC Global Asset Management ("RBC GAM") is the asset management division of Royal Bank of Canada (RBC) and includes money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $540 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
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