RBC eliminates key climate, ESG roles amid broader reorganization, sources say
RY•RBC eliminated at least three senior climate, sustainability and ESG roles as it reorganizes teams and creates a public policy vice presidency. The bank said it moved its climate team into the new group and its sustainability reporting function into finance.
1. Roles eliminated, teams moved
RBC eliminated at least three senior roles, including vice presidents of climate strategy, ESG risk, and sustainability strategy and performance, three people familiar with the decisions said. The bank said it moved its climate team in its entirety into a newly created Public Policy group and shifted sustainability reporting to its finance unit.
2. New policy vice president
RBC named Emily Head vice president of public policy, where she will oversee issues including AI, payments, fraud and scam prevention, climate and sustainability. Head has been with the bank for nearly 17 years and most recently served as vice president and associate general counsel.
3. Climate focus changes
RBC was among major banks that withdrew from a global banking-sector climate coalition last year, and it dropped its sustainable finance goals in 2025, citing changes to Canada's Competition Act. Spokesperson Andrew Block said teams across RBC's businesses focused on climate commitments and supporting clients through the transition continue to grow.
