City National Bank Releases 2021 Corporate Social Responsibility Report

Report highlights achievements in company’s efforts to create economic opportunity, advance diversity and promote environmental sustainability.

LOS ANGELES AND NEW YORK — City National Bank has released its 2021 Corporate Social Responsibility (CSR) report, which details the company’s dedication to helping its clients, colleagues and communities thrive and prosper. The theme of this year’s report, “What Matters Most,” celebrates City National’s continued efforts to make a difference and highlights the positive impact the bank has on its clients, colleagues and communities.

“City National has a role to play in building communities that are safe, sustainable and equitable for everyone,” said Kelly Coffey, chief executive officer of City National. “Building a better future is our shared responsibility and I’m proud of all that City National and our colleagues have accomplished to help create meaningful change.”

As detailed in its 2021 CSR report, City National’s contributions to building a world that is safer, healthier and more equitable included:

Communities

• Investing more than $11 million in organizations focused on affordable housing, financial education, racial justice and economic development. These include the sponsorship of financial education programs in low-to moderate- income schools in Los Angeles, the San Francisco Bay Area and New York.  Our support has benefitted countless organizations such as Baby2Baby, which provides essential items to children in need across the country; U.S.VETS, the nation’s largest nonprofit veteran services provider; and Habitat for Humanity, among many others.
  
  
• Contributing over $1 million annually in charitable donations through the Workplace Giving Campaign. The money goes toward different charitable and civic programs that align to causes our colleagues personally care about, including those that promote social and racial justice.
  
  
• Volunteering nearly 20,000 hours amid limited in-person service opportunities including the Downtown Women’s Shelter in Los Angeles and Ronald McDonald House Charities.
  
  
• Delivering more than 36,000 hours of financial education to 15,000 students in 200 schools through the Dollars + Sense program.
  

Diversity, Equity & Inclusion

• Setting a goal of having 40% of senior leadership positions held by women and 37% by people of color by 2026.
  
  
• Making a $100,000 joint donation to nonprofits that help support Asian American and Pacific Islander (AAPI) communities following anti-Asian bias, discrimination and violence since the beginning of the pandemic.
  
  
• Providing a variety of critical resources aimed at showing solidarity and support to AAPI communities.

Environment

• Supporting projects providing enough sustainable power for up to 200,000 people across 31 states.
  
  
• Committing more than $760 million to the renewable power industry since 2019.

Responsible Business

• Originating $1.16 billion of community development loans.
  
  
• Providing 2,435 loans to small businesses for a total of $144 million.
  
  
• 59 total economic development loans for a total of $337 million.

City National is a subsidiary of Royal Bank of Canada (RBC). RBC recently released its 2021 Environmental, Social and Governance (ESG) Performance Report, which offers insights into overarching strategies, new and continuing commitments, and performance related to relevant ESG topics.

Click here to view RBC’s report.