Royal Bank of Canada (RBC) has eliminated at least three senior climate and environmental, social and governance (ESG) positions as part of a wider organisational restructure, with around half a dozen employees leaving the bank following the consolidation of teams.

The roles removed include vice presidents of climate strategy, ESG risk, and sustainability strategy and performance, according to three people familiar with the decisions who spoke to Reuters on 12 November.

RBC spokesperson Andrew Block said the bank had moved its climate team in its entirety into a newly established Public Policy group, giving it a broader remit to influence policy issues.

The bank has transferred its sustainability reporting function into its finance division, with Block confirming that approximately six positions had been eliminated because of duplicated responsibilities. Employees moving into the new team will take on an expanded mandate covering climate issues.

The restructure includes the appointment of Emily Head as vice president of public policy. Head, who has worked at RBC for nearly 17 years, previously served as vice president and associate general counsel, with experience in ESG law.

According to her LinkedIn announcement, she will oversee public policy matters including artificial intelligence, payments, fraud and scam prevention, alongside climate and sustainability. She will report to Kirsten Sutton, the bank's US-based senior vice president of global government affairs and public policy.

The changes come as North American financial institutions reassess their climate and sustainability commitments in response to shifting political and economic priorities.

US President Donald Trump has withdrawn the country from international climate initiatives and questioned the scientific basis of climate change. In Canada, Prime Minister Mark Carney has prioritised expanding the oil and gas sector, seeking new markets for domestic energy exports and protection against US tariffs.

RBC has previously taken steps to reduce its involvement in international climate initiatives. The bank withdrew from the Net-Zero Banking Alliance last year, a coalition established in 2021 with Carney's involvement when he was a UN climate envoy.

In 2025, RBC dropped its sustainable finance targets, citing changes to Canada's Competition Act that it said restricted the information it could disclose.

Richard Brooks, climate finance director at advocacy group Stand.Earth, told Reuters that the restructuring could result in a loss of specialist expertise and a dilution of the bank's focus on climate issues.

However, Block said RBC continued to invest in its climate commitments, stating that teams across its businesses focused on supporting clients through the transition "continue to grow".

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