Firm Signs onto White House’s American Business Act on Climate Pledge in Lead Up to COP21
Continuing its leadership in corporate social responsibility (CSR) and carbon reduction, BNY Mellon has been named to CDP's global Climate “A” List for climate performance leadership and its S&P Climate Disclosure Leadership Index (CDLI). For the third consecutive year, BNY Mellon has received perfect scores on both climate change disclosure and performance. The company's "A" for performance and score of 100 for disclosure make it the only financial institution globally and one of two S&P 500 companies to receive a perfect score for the past three years. CDP – formerly the Carbon Disclosure Project – is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information.
The disclosure and performance scores reflect BNY Mellon's assessment of potential risks and opportunities associated with climate change, management of corporate greenhouse gas (GHG) emissions and progress toward emission reduction goals. Since 2008, BNY Mellon has reduced its scope 1 and 2 GHG emissions by 32 percent, excluding data centers. It also continues to offset over 60 percent of its global electricity consumption through the purchase of renewable energy, on-site solar generation, and renewable energy credits.
BNY Mellon's recognition by CDP's Climate “A” List and CDLI is the latest top CSR ranking for the firm. Within its peer group, it was the only firm named to the DJSI World Index, one of the most highly regarded global sustainability indices, in both 2014 and 2015 and has the top ranking from Bloomberg for CSR disclosure.* BNY Mellon has also been included three years in a row in the FTSE4Good Index of firms demonstrating strong CSR performance.
“Our very strong CDP scores over the past three years demonstrate our well-established commitment to the highest standards of environmental performance in the actions we take to reduce our carbon impact and to transparency in the disclosure of climate change-related information,” said Karen B. Peetz, President of BNY Mellon. “Beyond our recognition by CDP, we’re proud of our leading performance across CSR rankings from respected industry organizations. Taken together, these ratings show that BNY Mellon is a leader in responsible business practices, benefiting both our stakeholders and society.”
Furthering its leadership in climate change accountability, BNY Mellon is encouraging others to act strongly and swiftly to create a low-carbon future. In the lead up to COP21, the United Nations’ Climate Change Conference in Paris, BNY Mellon has signed the White House’s American Business Act on Climate Pledge to voice support for a strong outcome from the climate negotiations in Paris and commit to ongoing support for climate action.
“Businesses, in partnership with governments, non-governmental organizations and others, have an important role to play in shaping a low-carbon future. Taking strategic action to mitigate climate change is good for our clients, our investors, our people and our world,” said Peetz.
BNY Mellon’s pledge builds on its successful track record of environmental stewardship and can be viewed here.
*As of September 2015