RBC Investors Reject Racial Equity Audit, Climate Proxy Bids (1)

Royal Bank of Canada investors on Wednesday voted against shareholder proposals concerning racial equity and climate impact after proxy holders raised a volley of concerns about the bank’s financing of fossil fuels and its impact on Indigenous people .

Proposals filed by the British Columbia General Employees’ Union called for Royal Bank of Canada to publish a third-party racial equity audit analyzing its impact on non-white stakeholders and communities of color. The company also faced three proposals related to the bank’s climate impact from its lending and investment activities.

Another failed proposal asked that RBC update its human rights statement ...