Comerica Bank Recognized by Carbon Disclosure Project
DALLAS, Sept. 20, 2011 /PRNewswire/ — Comerica Bank has been commended by the Carbon Disclosure Project (CDP), which represents 551 institutional investors with $71 trillion in assets under management, for its approach to the disclosure of climate change information.
For the fourth consecutive year, Comerica is featured in CDP’s “Carbon Disclosure Leadership Index.” This index, a key component of CDP’s annual S&P 500 report, highlights the constituent companies within the S&P 500 Index which have displayed the most professional approach to corporate governance regarding climate change information disclosure practices. Companies are scored on their climate change disclosure. High scores indicate good internal data management and understanding of climate change-related issues affecting the company.
The index, compiled by PwC (PricewaterhouseCoopers LLP) on behalf of CDP, provides an evaluation tool for institutional investors and other stakeholders. In 2011 it comprises 55 companies from the S&P 500 Index and is based on analysis of responses to CDP’s questionnaire, which focused on greenhouse gas emissions, emissions reduction targets, and risks and opportunities associated with climate change.
“Comerica is pleased to have been recognized again this year by the CDP for its management of climate change-related risks and opportunities,” said Richard Plewa, senior vice president and national director, Corporate Sustainability. “We view our energy and climate change strategies as a key part of our efforts to create sustainable, long-term value for our shareholders and other stakeholders. This includes our continued focus on developing deposit and loan relationships with ‘clean tech’ and ‘green tech’ companies.”
Paul Simpson, chief executive officer of the Carbon Disclosure Project, commented:
“Companies that make the Carbon Disclosure Leadership Index have demonstrated good internal data management practices for understanding greenhouse gas emissions. They have shown a strong awareness of the business issues related to climate change including climate-related risks and opportunities. Those organizations that give clear consideration to measuring and reporting on climate change issues will be best placed to capitalize on the opportunities from managing them.”
The S&P 500 report, including names of companies featured in the Carbon Disclosure Leadership Index, can be found at www.cdproject.net.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $54.1 billion at June 30, 2011. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.
The Carbon Disclosure Project (CDP) is an independent not-for-profit organization holding the largest database of primary corporate climate change and water information in the world. Some 3,000 organizations across the world’s largest economies now measure and disclose their greenhouse gas emissions and assessment of climate change risk and opportunity through CDP, in order that they can set reduction targets and make performance improvements. This data is gathered on behalf of 551 institutional investors, holding US $71 trillion in assets. For more information visit www.cdproject.net.
SOURCE Comerica Bank