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Letter from our Chief Strategist
of Impact Investing

Ron Homer

Chief Strategist, Impact Investing


In 2023 local economies worldwide continued to grapple with the lingering economic effects of the global COVID-19 pandemic. Given the challenges and uncertainties of today’s world it is even more important that we use available resources to build more resilient and sustainable economies for the future.

As government stimulus spending winds down in various sectors, impact investing can and should continue to play a significant role in addressing ongoing challenges such as climate change, poverty, and systemic inequality. Impact investing encourages the innovation and ingenuity necessary to develop sustainable solutions.

In this new environment, it is vital that the private sector steps up by continuing to invest in impact projects that are sustainable and scalable. One way to facilitate these investment opportunities is by supporting organizations committed to making a difference. By adopting such strategies, we can make a lasting impact on communities and future generations.

Collaboration among and between public and private sectors will be key to maximizing the effectiveness of any impact investing strategy. Governments, corporations, nonprofits, and individuals must join forces, share knowledge and pool resources to address systemic issues. By working together, we can leverage our collective resources, human and financial, to create scalable solutions that have a far-reaching impact.

In the following annual report, we highlight our commitment to collaboration and partnerships that produced impact projects which demonstrate that market rate financial returns and positive impact can go hand in hand. We hope that these examples will stimulate you to explore ways in which you can commit more of your resources to impact investments.

Ron Homer Signature

RBC GAM becomes signatory to the Operating Principles for Impact Management

In September 2023, RBC GAM became a signatory to the Operating Principles for Impact Management (“the Impact Principles”) by the Global Impact Investing Network (GIIN), a step that continues to demonstrate our commitment to impact investing. Continued investment in our impact measurement capabilities is a key focus for the team. We believe the ability to transparently measure the environmental and social impact of our strategies will continue to be important to clients and consultants over the long term. The commitment to the Impact Principles applies to our US Fixed Income impact investing strategies and our framework was independently verified by an external auditor. The Impact Principles were designed to promote transparency within the growing impact investment space. They have become the market standard for impact investors, deepening rigor and driving credibility within the financial services industry since the framework’s launch in 2019. In accordance with this commitment, RBC GAM has adopted the nine Impact Principles that are the industry’s leading investor framework for ensuring that impact considerations are integrated throughout the full lifecycle of an investment. We believe this further demonstrates our proficiency in impact measurement and seek to maintain and expand our competitive edge

Celebrating twenty-five years of impact investing

2023 Marked a quarter center of impact investing at RBC GAM (BlueBay Fixed Income). To honor this milestone, we reflected on the origin story, how things have changed since, and current opportunities for impact for long-standing social inequities.

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RBC GAM is the asset management division of Royal Bank of Canada (RBC) which includes RBC Global Asset Management Inc., RBC Global Asset Management (U.S.) Inc., RBC Global Asset Management (UK) Limited, RBC Global Asset Management (Asia) Limited and RBC Indigo Asset Management Inc., which are separate, but affiliated subsidiaries of RBC.

In Canada, this document is provided by RBC Global Asset Management Inc. (including PH&N Institutional) and/or RBC Indigo Asset Management Inc., each of which is regulated by each provincial and territorial securities commission with which it is registered. In the United States, this document is provided by RBC Global Asset Management (U.S.) Inc., a federally registered investment adviser. In Europe this document is provided by RBC Global Asset Management (UK) Limited, which is authorised and regulated by the UK Financial Conduct Authority. In Asia, this document is provided by RBC Global Asset Management (Asia) Limited, which is registered with the Securities and Futures Commission (SFC) in Hong Kong.

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© RBC Global Asset Management Inc., 2024