• Atmospheric CO2 /Parts per Million /Annual Averages /Data Source: noaa.gov

  • 1980338.91ppm

  • 1981340.11ppm

  • 1982340.86ppm

  • 1983342.53ppm

  • 1984344.07ppm

  • 1985345.54ppm

  • 1986346.97ppm

  • 1987348.68ppm

  • 1988351.16ppm

  • 1989352.78ppm

  • 1990354.05ppm

  • 1991355.39ppm

  • 1992356.1ppm

  • 1993356.83ppm

  • 1994358.33ppm

  • 1995360.18ppm

  • 1996361.93ppm

  • 1997363.04ppm

  • 1998365.7ppm

  • 1999367.8ppm

  • 2000368.97ppm

  • 2001370.57ppm

  • 2002372.59ppm

  • 2003375.14ppm

  • 2004376.96ppm

  • 2005378.97ppm

  • 2006381.13ppm

  • 2007382.9ppm

  • 2008385.01ppm

  • 2009386.5ppm

  • 2010388.76ppm

  • 2011390.63ppm

  • 2012392.65ppm

  • 2013395.39ppm

  • 2014397.34ppm

  • 2015399.65ppm

  • 2016403.09ppm

  • 2017405.22ppm

  • 2018407.62ppm

  • 2019410.07ppm

  • 2020412.44ppm

  • 2021414.72ppm

  • 2022418.56ppm

  • 2023421.08ppm

Briefs

RBC launches net zero unit ahead of today’s AGM

The Royal Bank of Canada has said it plans to set up a climate research unit that should combine industry knowledge and research projects across a range of industries with the aim to reduce emissions.

According to the announcement, which comes just hours before RBC's annual general meeting, later today in Canada, the bank's new Climate Action Institute will develop net zero strategies based on the institution's own research facilities, as well as input from business leaders, government officials and investors.

The bank stressed there is a need for such a research unit since the Canadian economy is forecast to need investments of up to £2 trillion to pay for the net zero transition.

Soil preservation in the agriculture sector was singled out as a priority for the researchers.

Meeting later today

The launch of the new climate institute comes just shortly before RBC executives and shareholders will gather in the Canadian province of Saskatchewan for the company’s annual general meeting.

On the agenda: a climate-related shareholder proposal focused on so-called 'brown spinning', a term that reflects investors’ concerns over publicly owned companies selling carbon-intensive assets to their less regulated, private counterparts.

The proposal highlights the lack of investor confidence in divestment as a corporate climate-risk management strategy. Investors do not want corporates to simply sell their carbon-intensive assets. 

Individual companies on the other hand have been hesitant to take on a more systemic level approach.

As a facilitator of such transactions, banks such as RBC have skin in the game. Their exposure has become ground zero for a new chapter in institutional investor engagement.

The vote is expected to take place Wednesday late afternoon GMT.

Content Tags: Banking  Transition  Canada  In-Brief 

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