RBC GAM release first Task Force on climate-related Financial Disclosures report
RBC Global Asset Management (RBC GAM), the asset management division of the Royal Bank of Canada (RBC), has released its Task Force on Climate-related Financial Disclosures (TCFD) report.
RBC GAM became a formal supporter of the TCFD in 2020 and this report is RBC GAM's first stand-alone disclosure aligned to the TCFD recommendations. The report discloses data and metrics for the portfolios managed by RBC GAM, and demonstrates its commitment to providing clients with transparent and effective reporting on climate change considerations.
"Climate change is a material factor that can impact economies, markets and societies in an unprecedented way," says Melanie Adams, Vice-President and Head, Corporate Governance and Responsible Investment, RBC Global Asset Management. "RBC GAM believes that considering its financial impacts in our investment approach may enhance long-term, risk-adjusted returns. We are committed to continuously improving and enhancing our approach as new climate data, metrics and insights enable us to better manage the risks and opportunities posed by climate change."
RBC GAM has structured this report, which covers calendar year 2020, based on the TCFD's four recommended pillars: governance, strategy, risk management, and metrics and targets. RBC GAM is committed to continuous improvement and expects that the firm's TCFD disclosures and the actions taken to address climate change will advance over time.