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RBC announced the creation of the RBC Blue Water Project, an innovative 10-year, $50 million grant program to support projects dedicated to water conservation, watershed protection, access to clean drinking water, and other water-related issues in Canada and around the world. This is the largest charitable commitment ever in the country’s history.
The RBC Blue Water Project will have three grant streams:
• Visionary Grants: multi-year grants to global organizations that show vision, foresight and innovation to support programs around the world and within Canada;
• Leadership Grants: annual grants given to organizations that are leaders in providing regional programs within North America, determined through a “request for proposal” process; and
• Community Action Grants: ongoing grants given to community-based organizations in Canada, the United States and the Caribbean to support local water conservation projects.
To kick off the RBC Blue Water Project, RBC announced its first grant recipient on October 29. Then, a panel of experts will be assembled to develop the overall granting strategy and guidelines. The RBC Blue Water Project will be fully operational in April, 2008.
RBC today also unveiled its Environmental Blueprint that formalizes the company’s longstanding commitment to environmental sustainability.
The Blueprint includes RBC’s commitments to reduce its environmental footprint and outlines how the company will approach new and emerging environmental issues in its business activities.
The RBC Environmental Blueprint includes the company’s revised environmental policy, originally drafted in 1991, and takes into consideration new and emerging issues related to climate change, biodiversity, forests, the rights of indigenous peoples and water. RBC consulted a number of environmental organizations in the development of the Blueprint, including WWF-Canada and the Ethical Funds Company.