Deutsche Bank has been named one of the best banks in the world with regard to addressing climate change.
Deutsche Bank achieved fifth position in the first-ever ranking of global banks on climate change strategies. A total of 40 banks from around the globe were evaluated in the report, ‘Corporate Governance and Climate Change: The Banking Sector’, issued by Ceres and authored by RiskMetrics Group’s Climate Research Team.
As part of its commitment to sustainable development, Deutsche Bank has been working on containing climate change for several years, contributing to solutions for sustainable development. The Bank’s impressive result in the study is attributable to the strategic and thorough implementation of the Sustainability Management System ISO 14001, for which Deutsche Bank has been certified since 1999.
Using a “Climate Change Governance Checklist”, each bank was assessed with regard to addressing climate change through board of director oversight, management performance, public disclosure, GHG emissions accounting and strategic planning.
The report ranked 16 US, 15 European, five Asian, three Canadian and one Brazilian bank using a 1- to 100-point scoring system. 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.
The 40 companies include several different classes of financial services firms, including diversified banks, investment banks and asset managers. The final scores are weighted to reflect the fact that some of the banks – specifically, asset mangers and investment banks – are not engaged in the full spectrum of product and service offerings assessed by the Climate Change Governance Checklist.
The 15 best banks:
HSBC Holdings PLC (70 points)
ABN AMRO Holding N.V. (66)
Barclays PLC (61)
HBOS PLC (61)
Deutsche Bank AG (60)
Citigroup Inc. (59)
Bank of America Corp. (56)
Royal Bank of Scotland Group PLC (55)
Fortis N.V. (54)
Goldman Sachs Group, Inc. (53)
ING Groep N.V. (52)
Merrill Lynch & Co., Inc. (52)
UBS AG (52)
Credit Suisse Group (50)
Morgan Stanley (49)
Ceres is a leading coalition of investors, environmental groups and other public interest organisations which works with companies to address sustainability challenges such as climate change. Ceres directs the Investor Network on Climate Risk (INCR), a network of 60 institutional investors. RiskMetrics Group is a leading provider of risk management and corporate governance products and services to financial market participants.
Company scores, profiles and the summary report are available via http://www.ceres.org.