The Royal Bank of Canada (RBC) has partnered with Carbonhound, an automated greenhouse gas emissions reporting platform, to assist Canadian businesses in measuring, verifying, and managing their carbon footprints.
As regulatory demands and stakeholder expectations around environmental and social sustainability grow, businesses are under increasing pressure to report their carbon emissions and assess ESG risks within their supply chains. Accurate emissions data not only helps organisations meet compliance requirements but also provides valuable insights to improve efficiency, reduce environmental impact, and lower costs.
Through this partnership, RBC’s commercial clients will gain access to Carbonhound’s platform, which offers automated data collection where businesses can streamline emissions tracking with automated imports for Scope 1, 2, and 3 greenhouse gas emissions, using globally recognised standards such as the Greenhouse Gas Protocol and ISO 14064. The platform integrates with thousands of data sources, reducing manual errors and saving time.
It also offers simplified emissions reporting using which companies can generate compliance-ready reports aligned with leading frameworks, including the Carbon Disclosure Project (CDP), Science Based Targets Initiative (SBTi), International Sustainability Standards Board (ISSB), and Canadian Sustainability Standards Board (CSSB). The platform also allows businesses to benchmark against competitors and share their climate impact with stakeholders.
The platform also offers climate action tools through which businesses can set emissions reduction targets, implement reduction strategies, and invest in carbon credit portfolios, helping them progress towards sustainability goals.
“This collaboration reflects our commitment to supporting clients with their climate transitions by providing tailored advice and sustainable finance solutions,” said Niranjan Vivekanandan, EVP and Chief Operating Officer, Commercial Banking at RBC. “We are excited to work with Carbonhound to offer an accessible solution that helps businesses manage and report emissions, supporting their move towards a low-carbon economy.”
Sanders Lazier, CEO and co-founder of Carbonhound, emphasised the increasing importance of sustainability reporting for businesses and said, “Sustainability reporting has become essential for companies operating in global supply chains and seeking to attract top-tier talent. We are excited to work with RBC to help Canadian businesses compete more effectively and expand their margins through sustainability data.”
