Who Owns RBC?

RBC publishes comprehensive annual sustainability and ESG reporting and has committed to net-zero financed emissions by 2050 with interim sector targets. It has set a goal to mobilize hundreds of billions in sustainable finance. However, the bank withdrew from the UN Net-Zero Banking Alliance in January 2025 alongside the other Big Five Canadian banks, a move criticized by climate groups. RBC is also consistently identified by the Rainforest Action Network and other NGOs as one of the world's largest financiers of fossil fuel projects, making its ESG posture a contested subject between its corporate commitments and independent criticism.

RBC is regularly ranked the most valuable brand in Canada by Brand Finance and appears on the Fortune Global 500 and Forbes Global 2000 lists. It has been named among the world's best banks by Euromoney and other industry publications, and its wealth management and capital markets units receive consistent top-tier industry rankings. CEO Dave McKay is frequently cited among the most influential banking executives globally.

RBC's most significant controversy is its role in fossil fuel financing. It has been ranked the world's largest financier of fossil fuel projects in multiple annual reports by the Rainforest Action Network and allied groups, drawing sustained criticism from climate organizations and occasional protests. In 2022, Canada's Competition Bureau opened an inquiry into whether some of RBC's climate-related marketing claims constituted greenwashing, a matter that proceeded through the regulatory process.

The bank also faces the standard regulatory obligations of a globally systemically important bank, including AML, capital, and conduct requirements across the many jurisdictions it operates in. The 2024 HSBC Canada acquisition attracted political and public interest scrutiny over reduced competition in Canadian banking, though regulators approved the deal.