Banks ranked on climate policies, practices - HSBC, ABN, Barclays, HBOS, Deutsche, Citi, Bank of America lead; Bear Stearns is last

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Article
10 January 2008

HSBC, Other European Banks Receive Top Scores in First-Ever Ranking of 40 Leading Banks on Climate Change Strategies;Citigroup and Bank of America post Highest Scores Among 16 U.S. Banks

Author: Ceres

While encouraging progress is being made, the banking sector still has a long way to go in confronting the business challenges posed by global climate change, according to a first-ever report issued today by the Ceres investor coalition that analyzes climate change governance practices of 40 of the world’s largest banks... The report found that a growing number of European, U.S. banks and Japanese banks are responding to the risks and opportunities presented by climate change... 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...
- Diversified Banks: [Highest scorers:] HSBC... ABN AMRO... Barclays... HBOS... Deutsche... Citigroup... Bank of America...
[Lowest scorers:] Bank of Nova Scotia... TD Bank Financial [Toronto-Dominion]... Mizuho Financial... Banco Santander... Banco do Brasil... Industrial Bank of China... Bank of China...
- Investment Banks: [Highest:] Goldman Sachs... Merrill Lynch... Morgan Stanley...
[Lowest:] Lehman Brothers... Bear Stearns...
- Asset Managers... [Highest:] State Street Corp... [Lowest:] Franklin Resources [Franklin Templeton]
[full report also refers to Fortis, Société Générale, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Credit Suisse, ING, JPMorgan Chase, Crédit Agricole, UBS, Sumitomo Mitsui Financial, Wachovia, Intesa Sanpaolo, Northern Trust, BlackRock, T. Rowe Price, Legg Mason]

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Article
10 January 2008

Lifting the Lid: Banks urged to address climate change

Author: Rachelle Younglai, Reuters

A handful of the world's biggest banks are starting to look at the risk that climate change poses to their businesses, but investors say they need to do more. Necessary measures for the banks include raising targets to reduce greenhouse gas emissions at companies in their portfolios, according to Ceres... Ceres...found a number of banks, including Royal Bank of Canada and Wells Fargo, are formally calculating the risk they take when lending money to companies that could be affected by carbon dioxide regulations... Of the banks surveyed, HSBC..., ABN AMRO..., Barclays PLC, HBOS PLC, Deutsche Bank AG, Citigroup and Bank of America ranked the highest in their approaches to climate change... Bear Stearns Co was rock bottom. Legg Mason and Franklin Resources Inc ranked among the lowest. Bear Stearns was not immediately available for comment. Franklin Resources [Franklin Templeton] and Legg Mason separately said they were reviewing the study. [also refers to Goldman Sachs, Merrill Lynch, Royal Bank of Scotland]

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