National Bank recognized by CDP for climate change disclosure
Montreal, 18 October 2011 -
National 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 second consecutive year, National Bank is featured in CDP’s “Carbon Disclosure Leadership Index.” This index, a key component of CDP’s annual Canada 200 report, highlights the constituent companies within the Canada 200 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 and high scores indicate good internal data management and understanding of climate change related issues affecting the company.
The index, compiled by Accenture on behalf of CDP, provides an evaluation tool for institutional investors and other stakeholders. In 2011 it comprises the leading 10% of companies (20) from the Canada 200 Index based on analysis of the responses to CDP’s questionnaire which focused on greenhouse gas emissions, emissions reduction targets and risks and opportunities associated with climate change.
“Climate change is one of the most important environmental issues of our time. It represents both risks and opportunities. Corporations like National Bank that provide high quality corporate disclosure of their emissions are being proactive towards managing these risks”, declared Ghislain Parent, Chief Financial Officer and Executive Vice President, Finance and Treasury, National Bank. “By reducing our ecological footprint, we are working together to make a difference for our clients, our employees and our communities.”
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 Canada 200 report including names of companies featured in the Carbon Disclosure Leadership Index can be found at www.cdproject.net/canada.
About National Bank of Canada
National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has over $153 billion in assets and, together with its subsidiaries, employs 19,217 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at www.nbc.ca. To access National Bank’s financial education portal, visit www.clearfacts.ca.
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.
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