RBC Origins created to drive solutions,
investments and corporate actions to support First
Nations, Métis and Inuit Peoples and develop a reconciliation
action plan
TORONTO, May 28, 2024
/CNW/ - Today, RBC announced the launch of its Truth and
Reconciliation Office under its new Indigenous banking banner,
RBC Origins, making RBC the first major bank in Canada to do so.
For decades, RBC has worked with Indigenous employees, clients,
organizations, businesses and communities to help build a more
prosperous and collaborative future together, including being the
first major financial institution to have a full-service branch in
a First Nation community in Canada
in 1991. RBC is beginning the next leg of its journey with the
creation of RBC Origins, which brings together the newly
created Truth and Reconciliation Office with the Indigenous Banking
strategy team. This shift to RBC Origins signals the bank's
intent to apply the principles, norms and standards of a
reconciliation framework to its corporate policy and core
operational activities involving Indigenous peoples and their lands
and resources.
"On this journey, I have joined several RBC executives in
engaging with Indigenous leaders from across the country through
listening sessions to help us better understand the needs and
aspirations of their communities, as well as issues like
relationship building and consent," said Dave McKay, president and CEO, RBC. "We are
launching a Truth and Reconciliation Office under the banner of
RBC Origins to integrate reconciliation work across our bank
in new ways, exploring opportunities to better incorporate
Indigenous knowledge, practices and principles throughout our
business."
RBC Origins will bring to life RBC's Purpose
Framework – Powering Ideas for People and PlanetTM,
which identifies human rights and reconciliation as key focus areas
for the bank. It will do this by deepening understanding of
reconciliation activities and environmental stewardship practices,
and honouring the rich and complex heritage, origin stories,
practices and principles of Indigenous communities.
Chinyere Eni has been
appointed the head of RBC Origins. Ms. Eni is a
member of Little Pine First Nation in Saskatchewan and a second-generation member of
the Igbo tribe in Nigeria. Under
Ms. Eni's leadership, the team aims to increase access to capital
and prosperity of Indigenous economies through the integrated
delivery of financial services to governments, not-for-profits,
businesses and retail clients. The team's mandate also supports
RBC's goals of being an employer of choice and promoting the
prosperity of Indigenous communities through philanthropic ventures
and procurement practices.
"For decades, RBC has partnered with First Nations, Métis and
Inuit Peoples and communities to create positive social change and
drive economic growth. To continue doing that in an impactful and
relevant way, it was important for us to evolve our own team
mandate, identity and approach," said Chinyere Eni, head, RBC Origins. "We're
excited about the launch of RBC Origins, including our new
Truth and Reconciliation Office, as it marks a shift to
collaborating with Indigenous communities in ways that are more
holistic, while being accountable and transparent about the
outcomes of our actions and commitments."
One of the Office's priorities is to develop a Reconciliation
Action Plan, in response to the Truth and Reconciliation
Commission of Canada's Call to
Action 92. This Call to Action includes an appeal for organizations
to commit to meaningful consultations, building respectful
relationships and obtaining free and prior informed consent before
proceeding with economic development projects.
"Transformation and innovation don't always have to mean 'net
new'. History is not measured in a straight upward line of
progress. We can gain so much knowledge through our experiences,
stories, histories and ancestors. To solve the big, complex
problems our world is facing – like inclusion and climate
change – we need to surface valuable knowledge, principles
and creativity from every source available," Ms. Eni added.
Since signing a Memorandum of Understanding with the Assembly of
First Nations and pledging to honour the Truth and Reconciliation
Commission's Call to Action 92, RBC has been working in
collaboration with Indigenous community members, organizations and
businesses across three priorities: economy, people and
communities. The bank continues to conduct consultations with these
groups through its Listening Circles to inform the launch of
its inaugural Reconciliation Action Plan. The plan will help
align meaningful and measurable actions to support reconciliation
efforts with Indigenous communities, while helping to increase
RBC's transparency and accountability.
In the interim, RBC recently published learnings and feedback
from its most recent Listening Circle sessions with
Indigenous community members across Canada in its report, The Business of
Reconciliation: Building the Future While Helping Repair the
Past. The bank will also be releasing the
16th edition of A Chosen Journey in June as it
continues to highlight the important perspectives, accomplishments
and stories of Indigenous community members, leaders and
businesses.
Today, RBC supports the banking needs of Indigenous communities
through its nine on-reserve branches – which include a newly
opened on-reserve branch located in Enoch
Cree First Nation – and six agency locations, which
are led by teams of specialized Indigenous banking advisors across
the country. RBC also supports the next generation of Indigenous
innovation, education and entrepreneurship as the proud sponsor of
the annual Pow Wow Pitch competition, and the bank's ongoing
commitment to programs like the RBC Future Launch Scholarship
for Indigenous Youth and the Indigenous Peoples
Development Program.
For more information on RBC's determination to progress as a
bank that stands for Indigenous inclusion and prosperity, visit:
rbc.com/indigenous.
About RBC
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 94,000+ employees who
leverage their imaginations and insights to bring our vision,
values and strategy to life so we can help our clients thrive and
communities prosper. As Canada's
biggest bank and one of the largest in the world, based on market
capitalization, we have a diversified business model with a focus
on innovation and providing exceptional experiences to our more
than 17 million clients in Canada,
the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-social-impact.
SOURCE RBC