• Automated Carbon Tracking: RBC clients can now use Carbonhound’s platform to automate emissions data collection, reducing errors and saving time.
• Simplified Reporting: Businesses can generate reports aligned with major sustainability frameworks, enhancing compliance and transparency.
• Actionable Climate Solutions: The platform helps businesses set reduction targets, implement strategies, and invest in carbon credits.

Royal Bank of Canada (RBC) and Carbonhound have partnered to offer Canadian businesses an automated solution for measuring, verifying, and managing carbon emissions. The collaboration aligns with RBC’s strategy to support clients in transitioning to a low-carbon economy.

Why it matters:

Businesses face increasing pressure to accurately report their carbon footprint due to evolving regulations and stakeholder expectations. Carbonhound’s platform simplifies this process, offering automated data collection and compliance reporting.

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How it works:

• Automated data collection: Carbonhound integrates with thousands of data sources to track Scope 1, 2, and 3 emissions, following global standards like the Greenhouse Gas Protocol and ISO 14064.
• Comprehensive reporting: Businesses can generate reports compliant with frameworks such as the Carbon Disclosure Project (CDP), Science Based Targets Initiative (SBTi), and Canadian Sustainability Standards Board (CSSB).
• Actionable insights: Companies can set reduction targets, implement strategies, and invest in carbon credits to meet sustainability goals.

What they’re saying:

“This collaboration reflects our commitment to supporting clients with their own climate transitions by providing tailored advice and sustainable finance solutions to help facilitate change.” — Niranjan Vivekanandan, EVP and COO, Commercial Banking, RBC

RBC’s Climate Commitments:

• Tripling lending to renewable energy through RBC Capital Markets and Commercial Banking by 2030.
• Allocating $1 billion to scale innovative climate solutions.
• Helping clients in high-emitting sectors transition to net-zero.

The big picture:

Sustainability reporting is now a competitive advantage. “Sustainability reporting has become table-stakes for businesses that want to work in global supply chains and attract top-tier talent,” said Sanders Lazier, CEO and co-founder of Carbonhound.

With this partnership, RBC and Carbonhound aim to help Canadian businesses navigate their sustainability journey more efficiently, ensuring they stay competitive in a rapidly evolving market.

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