World’s largest banks ranked on their climate commitment
The world’s banks are starting to recognize the threat of climate change, but could certainly do more, says a new report from Ceres, a coalition of investors and green groups pushing corporate sustainability. The group ranked 40 of the world’s largest publicly traded banks on their green (the climate kind, not the money kind). Some results were encouraging — 28 banks have calculated their greenhouse-gas emissions, 24 have set goals to reduce said emissions, and 29 are supporting alternative energy projects. But there is, of course, room for improvement: The median score on Ceres’ ranking out of 100 was 42, with more than half of the banks scoring under 50. Topping the list with a score of 70 out of 100 was London-based HSBC, which has spent $90 million to improve its energy efficiency, employs a chief environmental officer, and has an environmental oversight committee on its board. The top U.S. banks were Citigroup, sixth with 59 points, and Bank of America, seventh with 56 out of 100.