January 11, 2008
Ceres Ranks Banks On Climate Change
The banking sector still has a long way to go in confronting the business challenges posed by global climate change, according to a report issued today by Ceres that analyzed climate change governance practices of 40 of the world’s largest banks.In the report, Corporate Governance and Climate Change: The Banking Sector (PDF), Ceres says that a growing number of European, U.S. banks and Japanese banks are responding to the risks and opportunities presented by climate change, primarily by setting internal greenhouse gas reduction targets, boosting climate-related equity research and elevating lending and financing for clean energy projects. But many others are still not addressing climate change and only a handful of the 40 banks have begun integrating climate risks into their core business of lending by pricing carbon into their finance decisions or setting targets to reduce GHG emissions in their lending portfolios.
Using a 1- to 100-point scoring system, the two highest scoring banks were European-based HSBC Holdings and ABN AMRO with 70 points and 66 points, respectively. More than half of the 40 banks scored under 50 points, with a median score of 42 points.
The five highest scoring banks were all based in Europe – HSBC, ABN AMRO, Barclays, HBOS and Deutsche Bank – followed by Citigroup, Bank of America and the Royal Bank of Scotland.According to Ceres:
- The banks have issued nearly 100 research reports on climate change and related investment and regulatory strategies, more than half of them in 2007 alone;
- 34 of the 40 banks responded to the latest climate-disclosure annual survey conducted by the Carbon Disclosure Project, a nonprofit group that seeks information on climate risks and opportunities from companies on behalf of investors;
- 28 of the banks have calculated and disclosed their GHG emissions from operations and 24 have set some set some type of internal reduction target;
- 29 of the banks reported their financial support of alternative energy, eight of which alone have provided more than $12 billion of direct financing and investments in renewable energy and other clean energy projects.
- Many of the 40 banks have done little or nothing to elevate climate change as a governance priority – a trend that cuts across European, North American and Asian banks alike.
U.S. Banks (pdf)
Canadian Banks (pdf)
European Banks (pdf)
Asia/Pacific Island/Other Banks (pdf)
Advertisers
Pew Center Conference: Corporate Energy Efficiency
Reduce energy consumption, lower emissions and save money. >>
Recent Daily News [ see all ]
- 02/09/2010
- 02/08/2010
- 02/05/2010
- Caterpillar Puts Weight Behind $1.5B FutureGen CCS Project
- WR Grace Targets 20% Energy Intensity Cuts
- As UK Cap and Trade Falters, Government May Prop Up Carbon Prices
- Federal Government Proposes Climate Change Office
- University of Florida Football Complex Uses 25% Less Energy Than Similar Buildings
- 34% of Execs Cite Economy As Impediment to Adopting Sustainability
- Energy Storage Project Aims to Extend Utility of Solar Power
- Ford to Debut Electric Commercial Van
- SF OKs $150M in Property Tax Financing for Energy Efficiency, Renewables
- BNSF Signs Deal for Measuring Energy Efficiency
- Roundup: GE, IBM, Audi ‘Green Police,’ EU Carbon
- Accidental to Purposeful Sustainability: Using What You Already Have to Grow Sustainability
- Holiday Inn Express, Bardessono Boast Energy Efficiency, Renewables
- Massachusetts Adds $20M in Solar to 12 Wastewater Plants
- Novo Nordisk Cuts CO2 Emissions by 32%, Water Use by 20%
- Roundup: Dr. Suess Cease-and-Desist, Philips, EPA, Melting Drywall
- Canadian Environment Minister Denounces Quebec Vehicle Emissions Regs
- Energy-Efficient Lighting Saves Canadian Tire $6M in 2009
- Pixar Data Center Saves Money Via Cold Aisle Containment
- HVAC Software Helps University of Texas Save $500K a Year
- Data Centers Can Apply for Energy Star Rating in June
- Rytec’s Fast Cold Storage Door Helps Save Energy
- Burt’s Bees Decreases Waste to Landfill by 51.5% in 2009
- National RES Would Benefit Southeastern, Manufacturing States
- TBR Evaluates Sustainability Strategies at Dell, CSC, Cisco
- CEO Report Envisions $6 Trillion in Sustainable New Business Opportunities
- IBM ‘Cloud Computing’ Data Center Saves 15% in Energy Costs
- Bipartisan Senatorial Effort Seeks Cap and Trade for non-CO2 Emissions
- Collapsible Ocean Shipping Container May Help Reduce Emissions
- To Ensure Future Compliance, Utility Asks for CO2 Limits
- Analyzing Energy-Efficiency Metrics Can Reduce Energy Use in Data Centers
- Goose Island Touts Low-Carbon Brew
Charts [ see all ]
Popular Topics
Energy Efficiency
Data Center
Emissions
Facilities
Electricity
Sustainability
Water
Supply Chain
Efficiency
Green Marketing
Strategy & Leadership
Research
Fleets & Transportation
Carbon Finance
Conventional Energy
Clean Energy
Waste & Recycling
Paper & Packaging
Policy & Law
Utilities
Construction
Comments and Discussions
John Bergdoll on Accidental to Purposeful Sustainability: Using What You Already Have to Grow Sustainability
"I was following the logic your article..."
Liz Amason on Clorox Comes Clean With Chemical Content on Web Site
"But look at their ingredients listings. For example, their regular liquid bleach..."
Rigidflexibility on Companies Going Green Should Ignore Green Consumer
"I was about to market a metal working fluid that is 98>% Soybean oil and..."
Stuart on Canadian Environment Minister Denounces Quebec Vehicle Emissions Regs
"Canadians have been waiting for the feds to act on climate change for..."
Steve Wolford on Sports Teams Embrace Sustainability
"Hello Environmental Leader, We just returned from the National Sport Forum in Baltimore. Team and..."
Mauibrad on Bipartisan Senatorial Effort Seeks Cap and Trade for non-CO2 Emissions
"Finally some enlightened ideas out of Congress!"
Cameron Green on Data Centers Can Apply for Energy Star Rating in June
"I did a blog post about this. Essentially PUE doesn’t give you very much..."





Join the Discussion