The Royal Bank of Canada (RBC) has announced a collaboration with Carbonhound, an automated greenhouse gas emissions reporting platform, to help Canadian businesses measure, verify, and manage their carbon footprints. This initiative aligns with RBC’s broader strategy to support clients in their transition to a low-carbon economy.
Automated carbon tracking for businesses
As businesses face growing regulatory pressures and stakeholder expectations on sustainability, precise emissions tracking has become essential. Carbonhound’s platform streamlines this process by automating data collection, simplifying reporting, and providing tools to help businesses take climate action.
Through this collaboration, RBC’s commercial clients will gain access to Carbonhound’s automated system, which integrates with thousands of data sources to track Scope 1, 2, and 3 emissions. The platform follows global standards such as the Greenhouse Gas Protocol and ISO 14064, reducing the risk of manual errors while saving time.
Simplified carbon reporting and compliance
Beyond tracking, Carbonhound enables businesses to generate emissions reports that meet the requirements of organizations like the Carbon Disclosure Project (CDP) and Science Based Targets Initiative (SBTi). The system also allows companies to benchmark against competitors and share sustainability progress with stakeholders.
Helping businesses achieve net-zero goals
RBC views this partnership as a way to empower businesses in taking meaningful climate action. "This collaboration reflects our commitment to supporting clients with their own climate transitions by providing tailored advice and sustainable finance solutions," said Niranjan Vivekanandan, EVP and COO of Commercial Banking at RBC.
RBC has set ambitious sustainability targets, including tripling renewable energy lending and allocating $1 billion to climate solutions by 2030. By working with Carbonhound, RBC aims to accelerate emissions reduction efforts across industries, ensuring Canadian businesses remain competitive in a sustainability-focused economy.
