RBC
CEF Lead Executives
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ANDREA BARRACK
SVP, Sustainability and Impact
Andrea is responsible for RBC’s sustainability strategy and is also Executive Director of the RBC Foundation. Her mandate includes delivery of measurable societal, employee, brand and business impact through community investments. Prior to joining RBC, Andrea was Global Head of Sustainability and Corporate Citizenship at TD Bank. She also served as an Executive Advisor on ESG, Sustainability and Climate Change at Deloitte, and as CEO at the Ontario Trillium Foundation. An active volunteer, Andrea participated on the Board of the International Planned Parenthood Federation at the regional, national, and global level for over 15 years. She is currently an Executive in Residence at the Rotman School of Management at the University of Toronto and teaches in the ESG Certification Program. Andrea earned a Master of Health Science in Health Administration at the University of Toronto. In 2016, she was named in the Women’s Executive Network Top 100 Most Powerful Women in the Trendsetter and Trailblazer category.
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DANA HUMMEL-SMITH
VP, Sustainable Finance
Dana is responsible for driving the integration of environmental, social and governance (ESG) factors into RBC Capital Markets’ Corporate Client and Global Markets advisory businesses. Dana joined RBC in 2017 in Corporate Banking in New York supporting lending transactions to Consumer & Retail clients and working closely with the Sustainable Finance Group to build out RBC’s capabilities in sustainability-linked loans. Previously, Dana has held roles in ESG consulting for asset management firms and in sell-side credit research at Bank of America Merrill Lynch and Goldman Sachs. Dana earned her Bachelor’s in Finance from Virginia Tech and is a Sustainability Accounting Standards Board (SASB) FSA Credential Holder.
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EMMA ROGERS
Sr. Director, Climate Strategy
Since joining RBC in 2017, Emma has worked on the climate strategy with a focus on evolving the bank’s ambition and integration with the bank’s business and functions. Emma now leads a team working on the climate strategy, integration and governance. Emma has 15 years of experience in sustainability strategy, business management and policy development, and brings a unique combination of corporate and public sector perspectives to new challenges. Prior to joining RBC, Emma worked for the provincial government on environmental policy files. She also worked at Tim Hortons and Sears Canada on sustainable procurement, sustainability reporting, marketing and environmental compliance. Emma received her M. Sc. in Environmental Management and Policy from the International Institute for Industrial Environmental Economics at Lund University, Sweden. She is a mother to two daughters, a painter and loves spending time in the outdoors.
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MOSES CHOIList Item 1
Managing Director, Sustainable Finance
Moses collaborates with institutional clients to deliver innovative sustainable finance solutions across RBC’s investment banking and global markets platform. As a part of RBC's commitment to invest $1Bn into innovative climate solutions, Moses also leads coverage of climate investment funds and portfolio companies. Moses was previously Head of Digital and Sustainable Finance within the corporate venture capital team at Orange and has held corporate and investment banking roles at Citi and Morgan Stanley. Moses has been an Executive Committee Member of the ICMA Green Bond Principles and Board Member of the Impact Capital Forum. Moses holds BA and BSc degrees from Cornell University and a master's degree from the Fletcher School at Tufts University.
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CLIFFORD MANN
Sustainable Finance
Clifford is an analyst on RBC’s Sustainable Finance Group where he supports institutional clients as they navigate the transition to net-zero, providing bespoke ESG advisory services, sustainable debt origination and structuring, and thought leadership. Prior to joining RBC, Clifford worked in social enterprise consulting across sustainable real estate, financial inclusion, and affordable housing. He has also published academic research on the effect of a corporation’s voluntary disclosure on consumer patronage. Clifford holds a degree in Policy Analysis and Management from the Brooks School of Public Policy at Cornell University.
Latest Sustainability Reporting
(April 2026)
Highlights
- Reduced Scope 1 and 2 emissions 70% in 2025 (2018 baseline).
- Reduced absolute financed emissions 16% for oil and gas in 2025 (2023 baseline), and reduced the physical emissions intensity for power generation 39% and for automotive manufacturing 9% (2019 baselines).
- Allocated $82 million in climate investments in 2025, for a cumulative $249 million since 2022.
- Increased lending to pure play renewable energy entities (and renewable energy through lending to mixed-energy entities) to $10.2 billion, up from $7.3 billion in 2024.
- Created a dedicated Energy Transition center of excellence within RBC Capital Markets to support clients on energy transition with advisory and capital.
- Provided a cumulative $4.5 billion in financing to support the construction, retrofitting and renovation of affordable and sustainable housing in Canada (since April 2024), and continued working with landlords to integrate climate-focused clauses in new and renewed lease agreements to reduce emissions.
- Supported over 190 community investment partners that are advancing climate mitigation or nature-based solutions with $28 million in community investments (through RBC, RBC Foundation and RBC Foundation USA).
- Employees (globally) and retirees (in Canada)
volunteered over 340,000 hours in 2025 to support communities.
Recent News
2026
RBC / SCOTIABANK — Royal Bank of Canada (RBC) and Scotiabank both retired their 2030 targets to reduce financed emissions for the oil and gas, power generation, and automotive sectors, citing external factors (e.g. changes in government policy, technological advancement, and energy demand). RBC retained its goal to achieve net zero for its lending by 2050, while Scotiabank did not. Both banks noted they will continue to report on the physical emissions intensity for the three sectors, and RBC noted it will continue to report the absolute financed emissions for oil and gas. (May 2026)
2024
MICROSOFT / ROYAL BANK OF CANADA — Agreed to purchase 10,000 tons of CO2 removal credits over 10 years from Deep Sky Labs, Canada’s first commercial direct air capture (DAC) facility. Deep Sky will use eight different DAC technologies with the aim of measuring and optimizing their performance year-round (accounting for the Canadian climate). The technologies will be powered by renewable energy and CO2 will be stored in permanent carbon storage. (Nov 2024)
PR » BLOOMBERG »
Announced a plan to retrofit its 1,200 Canadian branches, aiming to cut 10,000 metric tons of onsite carbon emissions from its operational footprint. In the first phase, RBC will invest $35 million over three years on energy-efficient low carbon heating and cooling systems. (July 2024)
New York City (NYC) reached agreements with JPMorgan Chase, Citi, and Royal Bank of Canada for the banks to regularly disclose their "Energy Supply Ratio" (financing ratio of low-carbon energy to fossil fuels) and their underlying methodology. The agreements come after successful shareholder engagements by the NYC Comptroller and three of NYC’s pension funds (who also have Energy Supply Ratio shareholder engagements with three more banks outstanding). (April 2024)
Announced three new actions it intends to take to accelerate the transition to a greener economy: 1) Triple lending for renewable energy across RBC Capital Markets and Commercial Banking and grow overall low-carbon energy lending to $35 billion by 2030; 2) Allocate $1 billion by 2030 to support the development of innovative climate solutions; 3 ) Accelerate capital deployment to emissions reduction efforts with a new decarbonization finance category. (March 2024)
2023
Joined the CEF member network in May 2023!
Launched the RBC Climate Action Institute to bring together research insights and industry experts to help clients and communities apply climate solutions across key sectors of Canada's economy. The institute will work closely with businesses and industry partners to design practical ways to reduce net emissions. It will focus initially on buildings & real estate, agriculture, and energy systems.
Announced that in 2023 it will add climate objectives to the CEO and group executives’ mid-term and long-term incentive plans. As RBC notes in its 2022 Climate Report, this will serve as “an additional incentive for the CEO and GE to accelerate RBC’s progress on these key priorities through innovation and engaging with governments, businesses and individuals to facilitate meaningful global progress towards net-zero over the short, medium and long term.” (March 2023)
2022
Royal Bank of Canada (RBC) set 2030 interim targets for three sectors: oil & gas, power generation, and automotive. For oil & gas, RBC aims for a 35% reduction in Scope 1 and 2 emissions intensity and an 11-27% reduction in Scope 3 emissions depending on government policies over that period. For power generation, RBC will aim for a 54% reduction in Scope 1 emissions. For automotive, the bank is aiming for a 47% reduction in Scope 1, 2, and 3 emissions. RBC is also aiming to provide $500 billion in sustainable finance by 2025. (Oct 2022)
2021
RBC committed to net-zero emissions in its lending portfolio by 2050 and announced an increased commitment to mobilize $500 billion in sustainable finance by 2025, after successfully fulfilling its first $100 billion in 2020. It also plans to achieve net-zero emissions in global operations by 2025 by reducing GHG emissions by 70% and sourcing 100% of its electricity from non-carbon emitting sources. (March 2021)