Royal Bank of Canada eliminates climate, ESG roles amid reorganization
RY•Royal Bank of Canada eliminated at least three senior climate, sustainability and ESG roles during a reorganization. The bank said about half a dozen jobs were lost due to duplicate roles, while some teams moved into a new Public Policy group.
1. Roles eliminated
Royal Bank of Canada eliminated at least three senior roles: vice presidents of climate strategy, ESG risk, and sustainability strategy and performance, three people familiar with the decisions said.
2. Teams reorganized
The bank said it moved its climate team into a newly created Public Policy group and shifted sustainability reporting into the finance unit. About half a dozen jobs were lost due to duplication of roles, spokesperson Andrew Block said. Employees who moved to the new team will have an expanded mandate that includes climate.
3. Broader changes
RBC named Emily Head vice president of public policy, overseeing issues including AI, payments, fraud and scam prevention, climate and sustainability. The bank said its teams across its businesses focused on advancing climate commitments and supporting clients continue to grow.
