Innovative new Canadian initiative will
mobilize unprecedented funds towards gender equality
TORONTO, June 4, 2019 /CNW/ - The Royal Bank of
Canada (RBC) today announced that
it has joined the Canadian-led, first of its kind, Equality Fund.
This ground-breaking collective combines national and international
gender-lens granting, multi-sector philanthropy and a new
innovative investment arm, to deliver new momentum for women's
movements and support the advancement of gender equality in
Canada and around the world.
The Equality Fund has mobilized initial investments of
$100 million to partner with the
$300 million multi-year funding award
from the Government of Canada
announced on June 2.
"RBC is proud to be a founding partner in the Equality Fund,"
said Lindsay Patrick, Managing
Director and Head, Sustainable Finance Group, RBC Capital Markets.
"As one of Canada's leading
providers of financial advice, RBC will contribute our expertise in
responsible investing and sustainable finance to provide counsel on
how to structure and manage the Equality Fund."
The Equality Fund collective is made up of The MATCH
International Women's Fund (The MATCH Fund), along with ten
partners – the African Women's Development Fund (AWDF),
Calvert Impact Capital, the Canadian Women's
Foundation (CWF), Community Foundations of Canada (CFC), Philanthropy for
Advancing Women's Human Rights (PAWHR), Royal Bank of
Canada (RBC), Toronto
Foundation, World University Service of Canada WUSC), Oxfam
Canada and Yaletown Partners. Members all share common
values yet offer unique organizational strengths.
"RBC is a purpose-driven organization, and how we act is just as
important as what we achieve," said Valerie
Chort, Vice President, Corporate Citizenship, RBC. "We are
so proud to be bringing our expertise in sustainable finance and
our passion for social good to the Equality Fund, helping to drive
social impact, advance gender equality and bring our purpose of
helping clients thrive and communities prosper to life."
Through this collective partnership, the Equality Fund will
activate a minimum of $1B over the
next 15 years.
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 16 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-sustainability.
SOURCE RBC Royal Bank