RBC commits $1.5 million to provide direct support to Black communities

Donations will support Black youth, the economic development of Black communities and social and racial justice reform

TORONTO, June 5, 2020 /CNW/ - To help fight systemic anti-Black racism and to provide support directly to Black communities, RBC has committed CAD $1.5 million to a number of organizations in North America.

"RBC colleagues around the world will not stand by silently as we witness the ongoing racial discrimination and injustice in our communities," said Dave McKay, President and Chief Executive Officer, RBC. "We must work harder to stop continued and systemic anti-Black racism, and the hate and discrimination that persists. And we must continue to speak up for inclusion. The Black community needs our collective voice and action now more than ever."

RBC has a long-standing commitment to supporting marginalized communities, particularly youth as part of its Future Launch commitment. As a first step toward providing more support directly to Black communities, RBC will donate to organizations that support social and racial justice for Black communities, including the NAACP Legal Defense and Education Fund and the Equal Justice Initiative.

In the Minneapolis and St Paul areas, where communities were particularly impacted by violence and rioting, including minority-owned businesses, RBC has committed to support rebuilding efforts through a contribution to We Love Lake Street, a fund set up by the Lake Street Council to provide direct support to small business and nonprofits.

In Canada, RBC will support Black youth and the economic development of Black communities, beginning with the Black Business and Professional Association, Business Is Jammin' and Tropicana Community Services.

Diversity and inclusion is a key enabler in bringing RBC's purpose of helping clients thrive and communities prosper to life. It is a core value at RBC, and we are committed to making our workplaces, culture and communities inclusive and welcoming for all. This week, our Diversity Leadership Council met to discuss anti-Black racism and to chart our own path forward by listening and providing support and opportunities for Black voices to be heard. We need to continue on this journey every day, because in this divisive age, respect and empathy matter more than ever.

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 84,000+ employees who 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 17 million clients in Canada, the U.S. and 34 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