Royal Bank of Canada CEO Dave McKay urged the British Columbia government to accelerate approvals for resource and energy projects, warning that the province risks losing investment to other regions. Speaking at a business event in Vancouver on May 28, 2026, McKay emphasized the need for faster permitting processes to compete globally.
McKay highlighted that BC's natural resources, including liquefied natural gas and critical minerals, are in high demand but face regulatory delays. He called for a 'project acceleration office' to streamline approvals, citing examples from Alberta and the United States where similar measures have attracted capital.
The CEO's comments come as BC prepares for a provincial election in October 2026. Premier David Eby's government has pledged to cut red tape but has faced criticism from industry groups over slow progress. McKay stressed that timely decisions are crucial to secure investments in clean energy and infrastructure.
No specific projects were named, but McKay referenced the potential for BC to become a leader in hydrogen and battery supply chains. The RBC chief noted that global competition for investment is intensifying, particularly from the U.S. Inflation Reduction Act and European green initiatives.
