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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, Published on: 10 January 2008

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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Related companies: ABN Amro Banco do Brasil Bank of America Bank of China Bank of Nova Scotia Bank of Tokyo-Mitsubishi UFJ (part of Mitsubishi UFJ) Barclays BlackRock BNP Paribas Citigroup Crédit Agricole Credit Suisse Fortis Franklin Templeton Goldman Sachs HBOS (part of Lloyds) HSBC Industrial & Commercial Bank of China Industrial Bank ING Intesa Sanpaolo JPMorgan Chase Legg Mason Merrill Lynch (part of Bank of America) Mitsubishi Group Mitsubishi UFJ Financial Group Mizuho Bank (part of Mizuho Financial Group) Northern Trust Royal Bank of Canada Royal Bank of Scotland Santander Société Générale State Street Sumitomo Group Sumitomo Mitsui Banking (part of Sumitomo Group) T. Rowe Price Toronto-Dominion Bank UBS Wachovia (part of Wells Fargo) Wells Fargo