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Royal Bank of Canada (RBC)

Royal Bank of Canada (RBC) was founded in 1864. Today, it is the country’s largest chartered bank and financial institution. It has five divisions: Personal and Commercial Banking, consisting of banking operations in 36 countries around the world; RBC Wealth Management, consisting of investment products and services for retail investors; RBC Capital Markets for international investment banking services; RBC Insurance for individual and group clients; and Investor and Treasury Services, providing custody services and fund administration for international clients. Royal Bank is a public company that trades on the Toronto Stock Exchange, New York Stock Exchange and SIX Swiss Exchange under the symbol RY. In 2020, RBC registered $47.2 billion in revenue and $11.4 billion in profit and held $1.62 trillion in assets. Royal Bank employs more than 86,000 people, who serve 17 million customers.

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Irving Group of Companies

Companies owned by New Brunswick’s Irving family dominate the province’s natural resource industries, as well as its media, engineering and construction industries. The first Irving business was a sawmill purchased in 1881. The family now owns many companies that supply each other from different steps in the chain of production. These companies largely fall under four umbrellas: J.D. Irving Limited (whose many segments include forestry, food, construction and transportation), Brunswick News (newspapers), Irving Oil (oil refining and marketing) and Ocean Capital Holdings (real estate, radio, construction and materials). The Irving family owns Canada’s largest oil refinery, is one of the five largest landowners in North America, and employs 1 in 12 people in New Brunswick. It is one of the wealthiest families in Canada.

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Pipelines in Canada

Pipelines are systems of connected pipes used to transport liquids and gases — namely oil and natural gas — across long distances from source to market. More than 840,000 km of pipelines criss-cross the country, part of a larger oil and gas sector that employs between 100,000 and 200,000 Canadians. According to Natural Resources Canada, the sector earns the government an average of $19 billion in royalties, fees and taxes each year (see Natural Resources in Canada). It also contributes nearly 8 per cent of Canada’s gross domestic product.

Yet pipelines have also been controversial in Canada over fears that the fossil fuel use they facilitate could be significantly contributing to climate change. In recent years, Indigenous groups, environmentalists, municipalities, mayors and labour unions have opposed numerous pipeline projects they believe could contaminate local waterways through spills and leaks. (See also Environmental Movement in Canada