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"RBC’s Enterprise Risk Appetite Framework provides that we will make future-focused risk decisions taking E&S risk considerations, including modern slavery practices, into account. The Board oversees the frameworks, policies and systems used to identify and manage risks to the businesses and seeks to embed a strong risk management culture throughout RBC. Our Group Risk Management team is responsible for developing and maintaining policies to identify, assess, monitor and report on E&S risk and for providing regular reviews and updates. Business segments and corporate functions are responsible for incorporating E&S risk management requirements into their operations."

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"Procurement, Third Party Risk & Supplier Management

We have a comprehensive risk assessment and due diligence program in place for suppliers, which includes ensuring suppliers have policies that address discrimination, minimum age of employment, minimum wages, overtime hours and legally mandated benefits at all of their facilities. We risk assess suppliers at the inception of the business relationship, track changes in their risk profiles on an ongoing basis and identify negative news related to our highest risk suppliers.

When companies register to become suppliers through our fair sourcing process, they agree to operate in accordance with the principles and expectations set out in our Supplier Code. RBC maintains the right to monitor supplier compliance and to audit their control environment. We are also entitled to request information from our suppliers on their adherence to Supplier Code requirements, including those relating to child and forced or compulsory labour."