Four Canadian financial services companies have been recognized as leaders for the depth and quality of climate change data they disclosed to investors and the global marketplace through CDP (Carbon Disclosure Project) the international non-governmental organization (NGO) that drives sustainable economies.
The companies were awarded with a position on the Climate Disclosure Leadership Index (CDLI), released Wednesday in the 2014 Canada Climate Change Report.
The four companies are: Bank of Montreal (TSX:BMO); Great-West Lifeco Inc. (TSX:GWO); IGM Financial Inc. (TSX:IGM) and TD Bank Group (TSX:TD).
The companies earned leadership status by submitting climate change information through CDP’s global environmental disclosure system for independent assessment against CDP’s widely respected scoring methodology. Company disclosures to CDP are marked out of a total of 100. Those organizations graded within the top 10% constitute the CDLI.
The index highlights companies providing a high level of transparency in their disclosure of climate-related information.
CDP disclosure scores are provided to investors and other decision makers through various channels, including Bloomberg terminals, to help them assess corporate preparedness for changing market demands and emissions regulation.
Paul Simpson, chief executive officer of CDP, says: “Global greenhouse gas emissions continue to rise and we face steep financial risk if we do not mitigate them. The need for data on corporate climate change impacts and strategies to reduce them has never been greater. For this reason we congratulate those businesses that have achieved a position on CDP’s Climate Disclosure Leadership Index. These companies are responding to the ever-growing demand for environmental accountability and should inspire others to follow suit.”