The Canadian Council of Business Leaders Against Anti-Black Systemic Racism in June urged business leaders to commit to increasing Black representation among their workforces, executives and board roles by 2025. "Many Canadian companies have made statements condemning anti-Black systemic racism it's now time to back that up with action by signing the pledge," founder Wes Hall, who also runs shareholder services firm Kingsdale Advisors, said in a statement. RBC did not say when it seeks to reach its 30% firm-wide target for non-white executive hires. The bank pledged C$100 million in small business loans over five years to Black entrepreneurs and a C$50 million investment until 2025 to create opportunities for 25,000 Black, Indigenous and people of color. Last month, Manulife Financial Corp (TO: MFC ) and Bank of Nova Scotia (TO: BNS ) pledged C$3.5 million and C$500,000 respectively for diversity initiatives.