Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesEnergyOil & GasFinanceBankingRBC CEO sees pipeline news soon in 'risk on' investment climateMcKay has argued that Canada needs to move away from a cautious, risk-averse culture to a pro-growth mindsetAuthor of the article:Last updated 5 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.Dave McKay, CEO of RBC on October 8, 2025. Photo by Brent Calver/PostmediaRoyal Bank of Canada chief executive Dave McKay said he expects announcements related to major Canadian energy projects in the “coming weeks” while warning that the country needs to move fast to secure capital.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Accountor“I think you’ll see some announcements coming soon, particularly on a number of pipelines, but we have to expedite that approval process because this capital that’s excited about Canada will not wait,” McKay said Tuesday at a Bloomberg Newsmakers event in Toronto. “The capital is impatient and it will move where things can get the most sure and fastest return.”McKay sees a “risk on” environment for investing in Canada at the moment, with catalysts such as $80 billion in additional government spending on defence, “construction of at least, I think, two pipelines,” and infrastructure such as ports and rail systems.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againThe Canadian government is partnering with two of its largest pension funds — Canada Pension Plan Investment Board and the Public Sector Pension Investment Board — to host a summit for global investors in Toronto this September. McKay has previously argued that Canada needs to move away from a cautious, risk-averse culture to a pro-growth mindset to compete for global investment.He said foreign investors are more interested in Canada now and has touted the recent move by U.K.-based Shell Plc to acquire Canadian oil and gas producer Arc Resources Ltd. as evidence.Calgary-based South Bow Corp. is also exploring an expansion of its oil-export capacity to the U.S., a revival of a project similar to the Keystone XL pipeline that was ended during U.S. President Joe Biden’s administration. And Shell and other partners are moving closer to a final investment decision on building the second phase of a large liquefied natural gas plant on the coast of British Columbia.On the Canada-United-States-Mexico Agreement, or CUSMA, McKay said he believes negotiators are “making progress” and noted that none of the parties has mentioned canceling it outright.“I’m confident we’ll find that agreement over time, but it is a protracted process,” he said.McKay has previously described the Canadian economy as resilient, having absorbed the significant shocks of sectoral tariffs and inflation, but noted that policy uncertainty around the CUSMA is the primary factor in restrained business investment. Gross domestic product contracted slightly in each of the two most recent quarters.“We don’t really believe we’re in recession,” McKay said Tuesday. “I would say you’re going to see a positive print coming out in the next quarter.”Royal Bank itself launched a $1 billion growth fund to help Canadian companies scale and remain in the country. The firm’s first two investments through the fund were in Vancouver quantum-computing company Photonic Inc. and Ontario healthcare platform League Inc., McKay said.RBC Thought Leadership research published in April argued that Canada has the chance to become a global growth leader among Group of Seven nations, with investments of $1.8 trillion over the next 10 years in six strategic industries: oil and gas, electricity, mining, defense, agriculture and space.The challenge isn’t capital, according to the report, but a overcoming a persistent shortage of project execution, policy certainty and risk taking. McKay has said Canada needs to seize a “once-in-a-generation moment” to address issues like that and turn the country’s economic prospects around.Royal Bank’s venture fund follows JPMorgan Chase & Co.’s pledge in October to spend as much as US$10 billion on equity and venture capital investments. That’s part of a broader push by America’s largest bank to funnel US$1.5 trillion over the next decade — through financing and handling stock and bond sales — into industries that bolster national security and resiliency.With assistance from Lisa Abramowicz Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.