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HSBC responding to the risks and opportunities of climate change
19 May 2004
HSBC was named as one of the top fifty companies in the Climate Leadership Index at the launch of the Carbon Disclosure Project’s (CDP) second report on climate change and shareholder value.
The CDP is a group of institutional investors representing assets in excess of US$10 trillion. The second report has seen an increase in response from the FT500 Global Index of companies, up from 47% for CDP1 to 59% for CDP2. Based on the responses the Climate Leadership Index (CLD) comprises the 50 companies whose responses best addressed the breadth of climate change issues.
In a keynote speech at today’s launch of the CDP report HSBC Group Chairman, Sir John Bond said; ‘I am delighted that HSBC has today been named as one of the top 50 companies in the Climate Leadership Index by the Carbon Disclosure Project. We have made a start, a good start. But I know how far we have to go in the coming years to play our part in slowing global warming. We have recognised the problem. We have plenty of learning to do and we believe that financial institutions will play an important role in the shift to cleaner energy.’
Notes:
Carbon Disclosure Project
The CDP is the world’s biggest collaborative investor initiative on a corporate responsibility issue. CDP was launched in December 2000. The first cycle of the project (CDP1) involved sending an information request signed by 35 institutional investors representing US$4.5 trillion to the FT500 companies. The CDP1 report and responses from corporations were launched in February 2003. The CDP2 information request, singed by 95 institutional investors with assets in excess of $10 trillion, was sent on 1 November 2003. The CDP report and responses from corporations were launched in May 2004. The first and second CDP reports ere prepared by Innovest Strategic Value Advisors (www.innovestgroup.com).
The number of leading institutions from the FT500 backing CDP has nearly tripled to 95 from 35 and represents assets which have more than doubled to over US$10 trillion from US$4.5 million.
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