RBC recognized with 2010 GLOBE Award for Environmental Excellence

TORONTO, March 24 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) was honoured last night with the GLOBE Foundation's 8th annual 2010 GLOBE Corporate Award for Environmental Excellence for its outstanding achievement in environmental stewardship and corporate-wide approach to sustainability.

"This award reinforces our longstanding track record as a leader in environmental responsibility and sustainability," said Gordon M. Nixon, RBC President and CEO. "We are proud of the scope of our environmental programs and that they have been embraced by our shareholders, clients and employees alike. RBC is committed to continuing our efforts to develop and implement programs, policies, procedures and guidelines that will benefit the communities in which we live and conduct business."

Judged by a panel of industry experts including Françoise Faverjon-Fortin, Vice-President, Infrastructure and Environment, Export Development Canada, and Robert J. D. Page, Professor of Environmental Management & Sustainability at the University of Calgary, the Award was presented to RBC in Vancouver at the GLOBE 2010, International Conference and Trade Fair on Business and the Environment.

This honour adds to a suite of recognition garnered by RBC for programs and performance related to sustainability and corporate responsibility.

In January 2010, RBC was named one of the most sustainable large corporations in the world, according to the sixth annual "Global 100: Most Sustainable Corporations in the World" by Corporate Knights magazine at the World Economic Forum in Davos, Switzerland.

RBC has also been named to the 2009-2010 Dow Jones Sustainability World Index and the DJSI North American Index, and is recognized as one of Canada's Greenest Employers, one of Canada's Best Diversity Employers, one of Canada's 50 Most Socially Responsible Corporations and one of the Best Workplaces in Canada. RBC is also listed on the Jantzi Social Index, the FTSE4Good Index, and the Carbon Disclosure Project Canadian Leadership Index.

RBC established its first environmental risk management group and produced its first corporate policy on the environment almost 20 years ago. In 2007, RBC released the RBC Environmental Blueprint, containing the company's commitment to reduce the intensity of its environmental footprint, promote responsible lending, and offer environmental products and services. The company also launched the RBC Blue Water Project, a 10-year, $50 million philanthropic commitment to supporting organizations that protect watersheds and ensure access to clean drinking water. Since 2007, RBC has committed more than $20.48 million to more than 200 organizations worldwide working in this area.

The GLOBE Foundation is a Vancouver-based, not-for-profit organization dedicated to finding practical business-oriented solutions to the world's environmental problems. Formed in 1993, it has helped companies and individuals realize the value of economically viable environmental business opportunities through conferences and events, research and consulting, project management, communications and awards.

ABOUT RBC

Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada's largest bank as measured by assets and market capitalization, one of North America's leading diversified financial services companies and among the largest banks in the world, as measured by market capitalization. We provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 77,000 full- and part-time employees who serve more than 18 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 53 other countries. For more information, please visit rbc.com.

For further information: Gillian McArdle, RBC Media Relations, [phone]