RBC named to Climate Disclosure Leadership Index 2007
Ranked first among Canadian financial institutions; second among North American
TORONTO, September 25, 2007 — RBC is among 68 companies
and one of only 15 financial institutions worldwide named
to the Climate Disclosure Leadership Index 2007, 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 first in Canada, second in North America and tied for
fifth place globally.
The ranking was carried out by Innovest Strategic Value Advisors
as part of the Carbon Disclosure Project (CDP), an initiative
sponsored by a coalition of 315 institutional investors and
asset managers representing $41 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. In
2007, RBC Asset Management became a member of the coalition
and signatory to the CDP request.
"RBC has set itself apart from its peers by disclosing
the information required by investors to judge its readiness
for the challenges and opportunities posed by climate change,"
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.
In 2007, the request was sent to 2,400 companies worldwide.
Each company was judged on its governance and strategy with
respect to managing climate change issues, as well as its
ability to measure and reduce greenhouse gas emissions, and
its capability to quantify both the competitive and financial
costs and benefits of these actions. 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.
These two honours add to a growing suite of awards and recognition
garnered by RBC for sustainability and corporate responsibility,
including being named the top large company in the world at
effectively managing environmental risks and opportunities
by Newsweek magazine in 2007.
RBC is listed on the 2007 Dow Jones Sustainability Index,
the Jantzi Social Index and the FTSE4Good Index, recognizing
the world's financial, social and environmental corporate
leaders.
RBC considers corporate responsibility to include ethical
business practices, having a positive economic impact, operating
with integrity in the marketplace, providing a supportive
workplace, being environmentally sustainable and contributing
to communities.
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