COMMONWEALTH BANK ACHIEVES POSITION OF LEADERSHIP FOR CLIMATE CHANGE ACTION
Commonwealth Bank’s actions to reduce carbon emissions and mitigate the risks of climate change have been recognised by CDP, the world’s only global environmental disclosure system. Today CDP released the CDP Australia and NZ Climate Change Report 2013, listing Commonwealth Bank as the highest ranking Australian bank.
The CDP Australia and NZ Climate Change Report 2013 focuses on, and analyses climate change disclosures made by ASX 200 and NZX 50 listed companies.
Following a review, Commonwealth Bank has achieved a position in CDP’s Global 500 and ASX 200 Climate Performance Leadership Indices (CPLI). These annual indices highlight those companies that demonstrate strategies committed to improving their impacts on the environment.
Commonwealth Bank is now the highest ranking Australian bank listed on the global Index and has achieved:
- an overall disclosure score of 94;
- a place on CDP’s ASX 200 Climate Disclosure Leadership Index;
- ‘A band’ for climate performance;
- a place on CDP’s Global 500 Climate Performance Leadership Index; and
- a place on CDP’s ASX 200 Climate Performance Leadership Index.
Achieving an ‘A band’ for climate performance is a prerequisite for a position on the CPLI. Fifty-six Global 500 companies feature on the 2013 CPLI.
Andrew Hall, Commonwealth Bank Executive General Manager Corporate Affairs said, “Reducing our carbon footprint is a serious issue, which requires serious change. For a large organisation like Commonwealth Bank this is a complex and continuous process.
“Our approach focuses on real change rather than simply window dressing. We have worked hard to exceed our carbon reduction target and improve the environmental standards of our fleet, retail and commercial portfolios, and we are pleased to have this recognised. We continue to finance clean and renewable energy projects and have developed a comprehensive Environmental Management System (EMS).
“We are pleased to be featured globally on the 2013 CPLI - but our work does not stop here. We remain committed to looking at ways we can improve and reduce our carbon footprint even further,” Mr Hall said.
Paul Simpson, CDP’s Chief Executive Officer commented, “We congratulate Commonwealth Bank on its actions to mitigate climate change and reduce its emissions; making it the highest scoring Australian bank included on the 2013 CPLI.”
Commonwealth Bank took part in CDP’s climate change assessment program, designed to increase awareness of how to achieve efficiencies, realise monetary savings and capitalise on commercial opportunities from the management of energy, carbon emissions and climate change.
The CDP Global 500 Climate Change Report 2013 tracks how the world’s largest listed companies are responding to a changing climate. The Global 500 report including names of companies featured on the CPLI can be found at www.cdp.net
About Commonwealth Bank
The Commonwealth Bank is Australia's leading provider of integrated financial services, including retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and share-broking products and services.
As Australia’s largest bank, we have more branches, ATMs, EFTPOS networks, agencies and 24/7 call centres, as well as an internationally-recognised internet banking service. The Bank’s vision is to excel at securing and enhancing the financial wellbeing of people, businesses and communities. The Commonwealth Bank is a long-standing supporter of the community and contributes to individuals, schools, communities and organisations through the Staff Community Fund, sponsorship programs, volunteering and community grants.
Commonwealth Bank commenced operations in 1912 and today the Group has grown to a business with over 800,000 shareholders, 52,000 employees and offers a full range of financial services to help Australians build and manage their wealth, with established businesses in New Zealand, US, Europe and the Asia-Pacific region.
CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 722 institutional investors with assets of US$87 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions. Please visit www.cdp.net or follow us @CDP to find out more.
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