Description: Under pressure from the City of New York’s pension funds, RBC has agreed to reverse course and start reporting on the ratio of its green investments to its investments in fossil fuels. The move will help RBC avoid the potential embarrassment of losing a vote on the issue at its upcoming annual meeting of shareholders. Environmental groups may see this as a moral victory of sorts. Last year it was reported that RBC was the largest financier of fossil fuel developments in the world. https://www.cbc.ca/news/business/royal-bank-oil-and-gas-1.6809011

Date:  April 6, 2024

Source:  cbc.ca

 Link: https://www.cbc.ca/news/business/rbc-green-energy-nyc-pensions-1.7165467

Discussion points:

1) Do you feel that this enhanced reporting will help reduce overall carbon emissions?

2) Are you interested in studying about, and perhaps eventually working in, the area of improved corporate reporting around environmental impacts?

3) In the What’s New? section of Wiley’s Financial Accounting: Tools for Business Decision-Making we read on page vii that this edition of the text has a new feature on “Accounting and the Environment.” This new section is featured in three different chapters. Which of the three do you find the most interesting? Why?