RBC named to Carbon Disclosure Leadership Index 2008
Ranked #1 among Canadian financial institutions; tied for second among North American
TORONTO, September 22, 2008— RBC is among 67 companies
and one of only 18 financial institutions worldwide named
to the Carbon Disclosure Leadership Index 2008, a prestigious
honour roll of world leaders at understanding and managing
the financial risks and opportunities resulting from climate
change. Among financial institutions, RBC was ranked #1 in
Canada, tied for second both in North America and globally.
The ranking was carried out by PricewaterhouseCoopers (PwC)
on behalf of the Carbon Disclosure Project (CDP), an initiative
sponsored by a coalition of 385 institutional investors and
asset managers representing $57 trillion in assets under management.
These investors believe they can make better investment decisions
by assessing the degree to which large companies are exposed
to climate change risks, and how they are managing them. RBC
Asset Management was a signatory to the 2008 CDP request.
"Good corporate governance in respect of climate change
disclosure will inevitably reap its rewards. As carbon regulation
increases, those companies that have implemented climate change
related strategies are clearly going to be in a far better
position to meet the challenge of higher carbon prices than
companies that have procrastinated. Good disclosure practices
are synonymous with good management," said CDP chief
executive, Paul Dickinson.
Since 2002, the CDP has sent out annual information requests
to the largest companies in the world measured by market capitalization.
Each company was judged on its governance and strategy with
respect to managing greenhouse gas emissions, emissions reduction
targets, risks and opportunities associated with climate change.
In the banking sector, climate change risks (or carbon risks)
can include credit risk management procedures for carbon constrained
sectors such as energy and natural resource clients and carbon
management of lending portfolios.
Since its inception, CDP has become the gold standard for
carbon disclosure methodology and process and its website
is the largest repository of corporate greenhouse gas emissions
data in the world.
RBC is listed on the 2008 Dow Jones Sustainability Index,
the Jantzi Social Index and the FTSE4Good Index, recognizing
the world's financial, social and environmental corporate
leaders. In 2007, RBC released the RBC Environmental Blueprint,
containing the company's commitment to reduce its greenhouse
gas emissions and energy use and outlining how RBC will approach
new, existing and emerging environmental issues in its lending
activities.
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