Dave McKay, the CEO of Canada’s largest bank, responded to shareholders who faced tightened restrictions, including a one-minute limit on questions
chief executive officer Dave McKay says the lender is continuing to assess its climate change impact, responding to a parade of questions on Thursday from shareholders on the environment and Indigenous rights.
“We need to continue to evolve,” Mr. McKay said in response to a question from tribal attorney and climate advocate Tara Houska. “What we’re debating as a society is how we do that and at what pace. We know there’s urgency. We see the climate volatility and climate change. We at RBC feel that, and that’s a big part of the foundation – the need the pace and the need to work with communities to make this transition.
Some shareholders also expressed concerns with the new format of RBC’s annual meeting, and asked how RBC could provide participants with a more effective opportunity to express their concerns. Questions from shareholders and proxy holders were limited to one minute in length, and some were cut off if the comments did not seem to be relevant to the matter being discussed.
RBC’s chair Jacynthe Côté said RBC limited questions to one minute to allow all stakeholders an opportunity to speak, and that the bank will assess whether the time limit was sufficient. Some of Canada’s biggest banks are facing proposals from shareholders, calling on the banks to continue holding in-person meetings. Ateven after the bank recommended that shareholders reject it.
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