Royal Bank of Canada
Royal Bank of Canada's Climate Target Data Preview
As of 2024, Royal Bank of Canada has disclosed 5 climate targets aimed at reducing its greenhouse gas (GHG) emissions. These include 1 absolute reduction target and 4 intensity-based targets, signaling the company's commitment to managing and lowering its carbon footprint over time. The targets span various emissions scopes and time horizons, offering insight into Royal Bank of Canada's climate strategy, ambition level, and alignment with global decarbonization goals.
| Target Type | Scope of Target | Unit | Target | Target Year |
|---|---|---|---|---|
Absolute-based Target | Scope 1 - Total, Scope 2 - Total, Scope 3 - Business Travel (Cat. 6) | Metric Tonnes of CO2 equivalent (mtCO2e) | Copy/Paste is a PRO feature.  a | 2025 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Joule (J) of Oil and Gas Produced | 0000000 | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Joule (J) of Oil and Gas Produced | Copy/Paste is a PRO feature.  a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Watt-hour (Wh) of Electricity Produced | 0000000 | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Kilometer (km) | Copy/Paste is a PRO feature.  a | 2030 |
Verified Sources Behind Royal Bank of Canada’s Climate Targets Data
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Insights into Royal Bank of Canada's Greenhouse Gas Emissions Pathways
As of 2024, Royal Bank of Canada has set greenhouse gas (GHG) emissions reduction targets that cover its value chain emissions (Scope 3), without dedicated targets for its operational emissions. This indicates a focus on upstream and downstream climate impacts rather than internal operations.a
Does Royal Bank of Canada have a target to reduce the emissions from its value chain?
As of 2024, Royal Bank of Canada has set a target to reduce its value chain greenhouse gas (GHG) emissions, covering 1 out of the 15 Scope 3 categories defined by the GHG Protocol.a
Royal Bank of Canada's most ambitious value chain target is to reduce these emissions by 54% by 2030, compared to a baseline of 0 Metric Tonnes of CO2 equivalent (mtCO2e) per Watt-hour (Wh) of Electricity Produced in 2019.a
As of 2024, Royal Bank of Canada is ahead of schedule on its value chain emissions reduction target, having achieved 68.15% of the planned reduction.a
Royal Bank of Canada's Value Chain (Scope 3) Emissions Pathway
Does Royal Bank of Canada have a target to reduce its total carbon footprint?
As of 2024, Royal Bank of Canada has set a target to reduce its total carbon footprint, specifically those from Scope 1, Scope 2 and Scope 3 sources.a
Royal Bank of Canada's most ambitious carbon footprint target is to reduce its scope 1, 2 and 3 emissions from a baseline of 164,411 Metric Tonnes of CO2 equivalent (mtCO2e) in 2018, by 70% by 2025.a
As of 2024, Royal Bank of Canada is ahead of schedule on its total carbon footprint reduction target, having achieved 90.4% of the planned reduction.a