text
stringlengths 92
3.18k
| label
class label 2
classes |
|---|---|
We have developed two new portfolio metrics to provide greater transparency to the alignment of our power generation and commercial building portfolios with climate scenarios. These two sectors were chosen because electricity generation is responsible for around a third of Australia's national emissions with the non-residential buildings sector among the largest final end users of electricity. Supporting our customers' efforts to decarbonise the electricity supply and reduce the energy needs of commercial buildings will be key focus areas for ANZ over the coming decades. | 0non-specific
|
The Group carried out a variety of initiatives with investment clients throughout 2019: - The Group launched 10 Climate indices which raised over $750 million in 2019, and the green funds managed by BNP Paribas Asset Management (primarily invested in alternative energies and energy efficiency) totalled $11.6 billion in AuM at 31 December 2019. - BNP Paribas Cardif, the insurance subsidiary of BNP Paribas, more than doubled its green investments in the general funds of its domestic countries (France, Italy, Luxembourg). | 1specific
|
Ping An owns multiple working premises and properties in China, and the majority of resource consumption comes from the use of electricity, water, and paper in daily operations. Thus, the effective implementation of green office program and promotion of energy conservation and emission reduction at these workplaces and properties are emphasized in Ping An's sustainability transformation. Ping An constantly promotes innovative measures in business operations. It ensures that its operations would not result in direct damage to the environment by means of energy-saving renovations and behavioral change. In addition, it realizes energy and carbon reduction through directly curbing emissions (e.g. Ping An's smart office) and indirect offset. Ping An is committed to adhering to relevant laws and regulations in operations and services, as well as advocating green operation to minimize the direct impacts towards the environment. This includes: | 0non-specific
|
The long-term ambition is clear (to align its businesses with the Paris Agree- ment goals), but to achieve that ambition calls for short and medium-term targets in more specific bu- siness lines, allowing the Group to steer its various business operations with greater precision. | 0non-specific
|
Electricity Electricity is another significant source of carbon emissions. Since we began tracking our electricity use in 2014, our electricity consumption has decreased by 1% despite a 15% expansion in square footage and a 40% increase in headcount.49 Because of this growth, we were unable to achieve our initial 2020 goal of an 18% reduction. However, we continue to focus on reducing electricity through partnering with our landlords and leveraging energy efficiencies. Exhibit 10 provides additional data on our change in headcount versus electricity consumption. We improve energy efficiency through the consolidation of our data centers, retrofitting for LED lighting, redesigning our office space use, and adjusting our heating, ventilation, and air conditioning systems to more closely correlate to occupancy. | 1specific
|
The Technology and Operations and Enterprise Services teams work with Corporate Sustainability to implement initiatives to reduce the environmental impact of BlackRock's operations. In addition, BlackRock's Business Continuity Management and Disaster Recovery planning, strategy, and crisis management activities are managed by the Business Continuity Management team, which sits within Enterprise Services. | 1specific
|
The Bank is also a signatory to the Equator Principles III (EPIII) - a global set of principles and guidance to assess, mitigate, manage and monitor environmental and social risks in project-related financing. CBA co-leads the Climate Change Working Group to develop additional climate change assessment requirements in the next iteration of the Equator Principles (EPIV). This will include deeper guidance to support implementation of the principles by global financial institutions. | 0non-specific
|
We participate in the Carbon Disclosure Project Climate Change programme to disclose our climate strategy and performance to a collaboration of institutional investors. In 2019, our score dropped to B from A- in 2018, mainly due to our score for governance of climate-related issues and being unable to report on our full scope 3 inventory at the time of reporting. While disappointing, we now have measures in place to help to restore our score. These measures include strengthened governance through our new Board-level Sustainability Committee, and the work on scope 3 emissions described on page 40. | 1specific
|
Credit In 2019, DNB committed to a second phase of United Nations Environment Programme FI's Task Force on Climate-related Financial Disclosures banking pilot, which will run to mid-2020. In this Phase 2 pilot DNB will prioritise the power and renewables and oil, gas and offshore sectors. We expand on the scenario approach developed in United Nations Environment Programme FI's Task Force on Climate-related Financial Disclosures banking pilot Phase 1, and quantify climate risk in credit portfolios for climate scenarios with temperature increases of 1.5, 2 and 4 degrees Celsius. The scenarios describe a range of severe climate-related changes, against which we stress-test our portfolio resilience in the short, medium (2030) and long (2040) term. | 1specific
|
In addition to reductions in our vending and cooler equipment footprints, emission reductions have also been achieved through our progress towards sustainably sourcing palm oil, reducing added sugar in our beverages, increasing recycled content in our packaging, establishing partnerships on soil health practices within our value chain, and eliminating waste went to landfill from our facilities. | 1specific
|
The Bank acknowledges that climate change may have an impact on its financial planning process. As a result, it will roll out a scenario analysis program over the coming years to account for how environmental impacts may affect analyses of income and operating expenses, investments, capital distribution, potential acquisitions or divestitures and access to capital, among other factors. | 0non-specific
|
We are Australia's largest corporate purchaser of electricity from renewable projects connected to the grid under project specific agreements. While the output from these projects goes into the total grid pool, rather than directly into our facilities, these agreements play a role in providing the investment certainty to enable these projects to proceed. As the grid itself increases its proportion of renewable energy due to agreements with us and others, the power that flows into our facilities from the grid also becomes greener. The projects we have agreements with, including the Murra Warra Wind Farm and the Emerald Solar Park, generate renewable energy equivalent to the energy consumption of 255,000 households. We will continue to build on this work and invest in renewable energy generation. | 1specific
|
Since November 2019, Aviva France has committed to not invest in companies developing new coal mining projects or are planning a substantial increase of its annual (thermal) coal production volume; companies with 20% of their revenue coming from coal-related Aviva Investors' $44bn Real Assets platform comprises equity and debt investments in both real estate and infrastructure, with a concentration of assets in Europe and a growing interest in developing countries. | 1specific
|
BNP Paribas conducted two studies in 2019 to as- sess the resilience of its loan books to transition risks and physical risks. - The Industry Research Department (EIS) of the Group Risk Department performed an internal analysis on five-year energy and climate-related risks, physical risks and transition risks. This report is part of the Group's standard analysis of syste- mic risks, inter alia in the context of the analyses conducted by EIS on the impact of different risk factors on economic sectors. The purpose of the analysis was to identify and assess the main en- ergy transition and climate change risks incurred by BNP Paribas. It notably examined the impact of climate change on sovereign risk and the more or less significant exposure of various economic sectors to energy transition risks and opportuni- ties. This broad, detailed study found BNP Pari- bas' business model to be resilient to these risks, with respect to: o its businesses, and the sector and geographic classifications of its portfolios; o the measures taken to mitigate these risks. - For the first time, in 2019 and with the help of external specialists, BNP Paribas performed an assessment, on a sample of clients in its portfolio, of physical risks covering the consequences of cli- mate change (extreme weather events) on the as- sets of Group clients. They generate financial risks for companies not only through direct impacts on their assets, but also in terms of indirect impacts through their supply chains and markets. For each counterparty analysed, the final score of exposure to physical risks is based on three risk factors: operational risks, supply chain risks (upstream) and risks of market share losses (downstream). | 1specific
|
The following additional restrictions are in place for clients active in mountaintop removal mining (MTR): Barclays does not directly finance MTR projects or developments; We apply EDD to financing facilities involving clients which practice MTR. | 1specific
|
In January 2020, GSF and Morgan Stanley Research convened our inaugural Cross-Divisional Forum on Climate Change. This collaboration brought together Morgan Stanley's experts on climate-related risks and opportunities across business units, including: - Institutional Securities Group: divisions represented included Investment Banking, Global Capital Markets, Institutional Equities, Fixed Income, Public Finance and Commodities - Wealth Management: joined by Wealth Management Investment Resources and Capital Markets - Investment Management: joined by portfolio managers from Private Credit and Equity, Real Assets and Alternative Investment Partners | 1specific
|
Equator Principles (EP) within the scope covered by this initiative. Moreover, Societe Generale has voluntarily expanded the scope of application of the EP to include a range of transactions likely to present E&S challenges, such as equity capital market transactions, debt capital market transactions, mergers and acquisitions, and acquisition financing. Even beyond this scope, any financial transaction entered into by Corporate and Investment Banking involves the identification of any E&S risks relating to the client, other than financial institutions. | 0non-specific
|
Potential risk Disruptions to operations and client services Actions to mitigate risk - We identify properties that we lease or own, which contain business processes and supporting applications that require enhanced facility infrastructure to mitigate site disruptions, such as those caused by extreme weather events. | 0non-specific
|
In 2019, and continuing throughout 2020, we have rolled-out a comprehensive climate change training programme. In 2019 we published an internal briefing paper focused on climate change science facts, its geopolitical and macro- economical implications, as well as commercial impacts on companies. This provided the basis for a training session attended by over 200 staff in Head Quarters. This training has now been converted into an on-line course which has now been shared with local units to incorporate as part of their training programmes. Further training activities are currently being planned including additional awareness raising and specific topics on business opportunities. | 1specific
|
For example, in 2019 CN spent $0.9 billion on the acquisition of 154 efficient highhorsepower locomotives, as well as fuel conservation practices, such as locomotive shutdowns in yards, streamlined railcar handling, train pacing, coasting and braking strategies. | 1specific
|
The PJM average emissions rate has declined from 1,092 lbs/MWh in 20125 to 851 lbs/MWh in 2019 (22% reduction).5 We continue to make improvements to our existing plants to make them more fuel-efficient, and our recent investments in Keys Energy Center (Maryland), Sewaren 7 (New Jersey) and Bridgeport Harbor Station Unit 5 (Connecticut) further advance our overall efficiency. | 1specific
|
One of our We Mean Business commitments was to set a science-based emissions target independently approved by the Science- Based Target initiative (SBTi), and in 2017, we became the first company in Australia to do so. To date, we remain the only company in the Australian energy sector to have validated and approved science-based targets. Our targets cover not only Scope 1 and Scope 2 emissions but also Scope 3 emissions. We have also long supported a net-zero emissions target for the electricity sector by 2050 or earlier. | 1specific
|
Offsetting our Greenhouse gas emissions In addition to continuously investing in projects that mitigate our impact on climate change, in 2015 we launched the Itau Unibanco's Greenhouse Gas (GHG) Emissions Offset Program. | 0non-specific
|
BlackRock's public policy efforts primarily focus on advocating for the Sustainability Accounting Standards Board and Task Force on Climate-related Financial Disclosures frameworks in support of consistent reporting standards for corporate issuers. In 2020, BlackRock provided comments in support of several policy efforts to encourage Task Force on Climate-related Financial Disclosures reporting. For example, we responded to the UK Financial Conduct Authority ('FCA') proposal to apply the Task Force on Climate-related Financial Disclosures framework to UK publicly listed issuers.57 We welcomed the subsequent announcement by the UK Government to introduce mandatory Task Force on Climate-related Financial Disclosures reporting by 2025. In our response to the FCA, we advocated for mandatory reporting on all publicly listed companies from 2021. We also submitted comments to the UK Department for Work and Pensions regarding proposed mandatory Task Force on Climate-related Financial Disclosures Reporting for large occupational pension schemes.58 | 0non-specific
|
In the 2019 nancial year, the Group announced two portfolio transition commitments: - Supporting current coal-red power generation customers implementing transition pathways aligned with Paris Agreement goals of 45% reduction in emissions by 2030 and net zero emissions by 2050. | 1specific
|
The ERMC is supported by multiple committees, including the Corporate Responsibility & Reputation Committee (CRRC), Corporate Credit, Operational Risk, Management Compliance, and Asset/Liability. The CRRC is responsible for providing oversight and review of policies, programs, practices, and strategies that refect the company's core values and impact our reputation. It is also responsible for overseeing the identifcation and mitigation of top reputation risk issues and negative public perceptions. The CRRC charter explicitly includes environmental matters, including climate change. The CRRC includes the following roles: the Chief Communications and Reputation Ofcer, the Chief Enterprise Responsibility Ofcer, the Environmental Sustainability Director, Chief Ethics Ofcer, the Deputy General Counsel, and many others. Additional corporate policies and processes help identify, assess, and manage risk, including a new products and services risk assessment, self- identifed issues management program, reputation risk councils, vendor due diligence, and credit risk review. | 0non-specific
|
BNP Paribas seizes climate-related opportunities with corporate clients The Group acted on the following climate-related opportunities in the corporate clients segment in 2019: - Renewable energy financing reached $15.9 bil- lion. | 1specific
|
BMO's Chief Risk Officer (CRO) reports directly to the CEO and is head of Enterprise Risk and Portfolio Management and chair of the Risk Management Committee (RMC). The CRO is responsible for providing independent review and oversight of enterprise-wide risks and leadership on risk issues, developing and maintaining a risk management framework and fostering a strong risk culture across the organization. ERPM provides risk management oversight, supporting a disciplined approach to risk-taking for independent transaction approval and portfolio management, policy formulation, risk reporting, stress testing, modelling and risk education. ERPM is responsible for conducting climate change scenario analysis to identify potential risks in BMO's lending portfolio. | 0non-specific
|
At the Telefonica, S.A. Group, the strategy includes adaptation measures relating to physical and transitional changes. The main measures include the Business Continuity Plan for Climate Disasters and the Energy Efficiency and Renewable Energy Plan. | 0non-specific
|
Since 2016 we have also been working with the Australian Bureau of Meteorology (BOM), using their mapping to identify parts of Australia with low rainfall and those areas more likely to experience rainfall variation. (Fig 1 - Rainfall Annual 30-year average (1986-2015)). When customers purchase properties in these areas, we test their financial resilience to climatic events like rainfall variation and drought. Customers with lower resilience may be subject to enhanced underwriting standards, for example, loan approval may be dependent on a lower loan to valuation ratio, higher repayments, or evidence of savings or equity. Our bankers also need to document the customer's knowledge of recent rainfall and climate trends where their farm is located and, if relevant, how they manage water budgets for irrigation. | 1specific
|
We manage these risks in each stage of the building cycle: We conduct deep due diligence during the acquisition phase which includes building resiliency, energy and water consumption, building safety and materials, social impacts on the local community, certifications, environmental regulations and risk of disasters such as earthquakes and flooding. | 1specific
|
In addition, we have established new medium- to long-term targets to be achieved by fiscal 2030 under KV30. We are now in the process of formulating specific action plans to reduce Greenhouse gas emissions by 26% compared to the fiscal 2013 level in Japan. | 1specific
|
Its main priorities in 2019 were initiating investigations into new opportunities, reviewing existing proposals, examining and challenging our quarterly climate change reports and ensuring Trafigura is positioned to adapt as the world transitions to a low carbon economy. | 0non-specific
|
Several tools and methodologies aimed at assessing the exposure of loan books and investment portfolios to climate risks (transition risks and physical risks) are currently being examined across the Group. - BNP Paribas has made a commitment to the Science-Based Target initiative (SBTi). This coalition comprises the Carbon Disclosure Project (CDP), the UN Global Compact, the World Resources Institute (WRI) and the WWF, with the aim of supporting companies interested in setting environmental targets in line with the Paris Agreement goals. As Science Based Targets Initiative - Climate Change has not yet determined a methodology for setting such targets for companies in the financial sector, BNP Paribas is participating in Science Based Targets Initiative - Climate Change working groups to help develop one; - The Group signed the Katowice Commitment in 2018, and the Collective Commitment to Climate Action signed, in September 2019, by 33 banks that are also signatories of the Principles for Responsible Banking (PRB) under the aegis of United Nations Environment Programme FI (United Nations Environment Programme Finance Initiative). The Group has thus undertaken to develop tools that can be used to align its loan book with the goals of the Paris Agreement. In 2019, BNP Paribas tested the methodology developed by the think tank '2 Degrees Investing Initiative'26. - Lastly, in December 2019, BNP Paribas signed the Poseidon Principles promoting decarbonisation of the maritime transport industry by encouraging banks to incorporate climate considerations in their portfolios and credit decisions. Their objective is to meet the goal set by the International Maritime Organization (IMO) to reduce Greenhouse gas emission in maritime transport by at least 50% by 2050 (compared to 2008 levels). They will serve to measure and oversee the Carbon dioxide intensities of shipping finance portfolios, with a methodology used by all signatory banks. | 0non-specific
|
ENBW Amounting to EUR 1.5 billion, this deal was the first sustainable finance transaction closed since the COVID-19 crisis began, where BBVA acts as the sole sustainable coordinator, and in which the economic conditions are linked to the performance of three sustainability indicators for the company (two environmental and one social), in addition to the company's credit rating. | 0non-specific
|
Mizuho Bank (formerly Mizuho Corporate Bank) became the first Asian financial institution to adopt the Equator Principles in 2003. Since our adoption of the Equator Principles in October 2003, Mizuho Bank has remained actively engaged with the Equator Principles Association as a member of the Steering Committee, which consists of 10 international financial institutions. Mizuho Bank has also played a leadership role, serving as Chair of the Steering Committee, the first Asian bank to do so, from 2014 to 2015 and serving currently as regional representative for Asia & Oceania. | 0non-specific
|
R$1.745 billion) in bonds distributed in the U.S. market and maturing in 2027. In addition to the green bonds mentioned above, we carried out a social and environmental due diligence process to enable the issue of R$7.67 billion in bonds to be used for long-term investments in specific projects. | 1specific
|
In December 2019, we established a new suite of 2025 operational sustainability goals with a focus on strategic, collaborative partnerships that drive market transformation, as outlined in our Sustainability Report. The firm has been a member of RE100 since 2015 and recently joined additional initiatives EV100 and EP100 with ambitious commitments to electrify transport and deploy smarter energy use - making us the first US company to become a member of all three of The Climate Group's global corporate leadership initiatives to accelerate the clean energy transition. https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement https://obamawhitehouse.archives.gov/climate-change/pledge https://obamawhitehouse.archives.gov/climate-change/pledge https://bteam.org/our-thinking/news/30-major-ceos-call-on-trump-stay-in-paris https://www.unitedforparisagreement.com/ https://www.linkedin.com/pulse/our-commercially-driven-plan-sustainability-david-m-solomon/ https://clcouncil.org/ https://www.bloomberg.com/cfli/ https://data.bloomberglp.com/company/sites/55/2019/09/Financing-the-Low-Carbon-Future-CFLI-Full-Report-September-2019.pdf https://oneplanetswfs.org/download/23/online-publication/810/one-planet-asset-managers-statement-19-07-10.pdf https://www.goldmansachs.com/s/sustainability-report/ http://there100.org/ https://www.theclimategroup.org/project/ev100 https://www.theclimategroup.org/ep100 https://www.theclimategroup.org/ | 0non-specific
|
Sustainable Development Goals ('SDGs') Analytics In 2020, Trucost launched a Sustainable Development Goal analytics tool allowing financial institutions to assess portfolio alignment to the UN Sustainable Development Goals (SDGs). Trucost's Sustainable Development Goal analysis tool is an extension of Trucost's Sustainable Development Goal Evaluation tool launch in 2018 to help companies align business strategies with the goals. The Sustainable Development Goals are a global blueprint adopted by the world's governments to achieve a better and more sustainable future for all. | 0non-specific
|
Peru is also committed to increasing mortgage supply for high energy-rated properties. Currently, it offers 'Mi vivienda verde,' a state- subsidized mortgage loan for the purchase of a property certified as a green project that includes sustainability criteria in its design and construction. | 0non-specific
|
Detailed information on emissions is provided under the sustainability risk management heading in the Risk review section of this report, as well as in the bank's 2019 Non-Financial Data & Engagement report; A Our commitment for renewable energy to comprise at least 20% of our energy portfolio in 2022 with the help of our Energy Transition Fund. | 1specific
|
Dialogues with companies and decision-makers In addition to investing in sustainable strate- gies, AP2 has dialogues with companies and decision-makers to influence the transition to a low-fossil society. AP2 has in recent years, together with other investors, presen- ted a number of shareholder proposals on climate to several fossil energy companies (BP, Shell, Statoil) and the mining sector (Glencore, Rio Tinto, Anglo American). In addition to the shareholder proposals, the Fund also uses its voting rights to support other investors' shareholder proposals on climate. Over the past year, the Fund has noted that many company boards under- take to improve their climate reporting both in terms of emissions and in evaluation of the companies' projects/activities regarding climate scenarios. | 0non-specific
|
The COO's Employee Performance Scorecard (EPS) includes improvements in CN's fuel efficiency, in line with the Canadian rail industry medium-term emission intensity reduction target of 6% by 2022 from a 2017 baseline and the company's long-term sciencebased target to reduce Greenhouse gas emission intensity (tCO2 kilometres) by 29% by 2030, based on 2015 levels. | 1specific
|
Key objectives to address IAG's strategic focus area for disaster risk reduction and climate change are captured and disclosed in its Climate Action Plan and Scorecard, which has five areas of focus: 1. | 0non-specific
|
We have defined key sustainability areas in our 5-Year Business Plan in line with the expectations and requirements of stakeholders and based on the importance and affinity of such initiatives with our strategy, as well as on the medium- to long-term impact on our corporate value. Based on this, each in-house company, unit, and group will establish a strategy incorporating sustainability initiatives. Additionally, we have set targets/KPIs based on our key sustainability areas. The key sustainability areas and other items are revised each fiscal year and reflected into our business plan. | 0non-specific
|
Work on our approach to becoming a net zero carbon business will include the development of new targets to replace and supplement our existing ones. These will be set and made public during the current financial year. | 0non-specific
|
In SMBC's Credit Policy, which contains our overall financing policy, guidelines and rules, we declare that we will cease to provide financial support to borrowers engaged in businesses contrary to public responsibility, or which may have a significant negative impact on the global environment. | 0non-specific
|
Operations and Greenhouse gas Emissions: To ensure we remain a leader in implementing sustainability practices and reducing operational risk, our Services Division is committed to minimizing the impact of our operations on the environment and adopting best practices. We have been carbon neutral across our global operations and business travel since 2015, and are progressing on our 2020 operational goals. Additionally, alongside the sustainable finance target, we announced new operational goals for 2025, with a focus on strategic, collaborative partnerships that drive market transformation. See Our Operational Impact. | 1specific
|
The strategy involves not only a reduction of the Carbon dioxide footprint of the portfolio but also an innovative approach to aligning the portfolio with the two degree carbon reduction scenario in the future. | 0non-specific
|
We are developing this approach through a pilot study to better understand the impact of different climate change pathways on our mortgage securities, housing association exposures and branch network to enable us to estimate the financial impact this may have. | 0non-specific
|
We contract the delivery of our raw materials and products to transportation companies and are striving to reduce Carbon dioxide emissions as a specified consigner designated under the Japanese Energy Saving Act. Major efforts include implementing a plan to transport goods on return trips, encouraging drivers to eco-drive, and promoting energy efficient devices such as digital tachometers and eco-tires on vehicles. In shipping we continue to pursue energy efficiency technologies and operate new ships that are equipped with many energy-saving features. We are also supporting energy-saving operations for conventionally powered ships. | 1specific
|
Supporting the Low-Carbon Transition Our business units are on pace to meet our commitment to mobilize $250 billion to support low-carbon solutions by 2030. They are building expertise, supported by GSF and the Institute for Sustainable Investing, to serve our clients' growing interest in Environmental, Social, and Governance issues and in climate change specifically. Survey data from the Institute suggests rapidly accelerating interest in climate-focused solutions among asset managers, asset owners and individual investors. In response, we are developing accessible new products, such as Morgan Stanley Impact Quotient (see page 15). Our early work in 2013 in scaling green- bond financing has catalyzed new opportunities and continues to drive sector innovation in green and sustainable bonds. | 1specific
|
2 footprint of the portfolio but also an innovative approach to aligning the portfolio with the two degree carbon reduction scenario in the future. - AM engages with companies in which it invests on behalf of clients to discuss approaches to mitigating climate-related risk, as well as actively voting on shareholder resolutions to improve transparency and disclosure around climate-related reporting. Specif- ically in the context of the Climate Aware fund, UBS Asset Management has implemented an engagement program with 50 oil & gas and utilities companies under- weighted in the fund. Dialogue with companies aims at improving companies' disclosure and performance alignment with the Task Force on Climate-related Financial Disclosures recommendations. Engage- ment makes it possible to share the results of the quanti- tative and qualitative assessments included in the fund methodology with investee companies too. This allows for the verification of company performance with additional information collected before and after meetings. It also means AM can collect feedback, explicitly com- municate objectives for change in corporate practices and further enhance the model used to inform the under / overweights in the strategy. | 0non-specific
|
The extent to which climate-related factors will impact our clients, customers and the Firm remains uncertain; however, JPMorgan Chase has several initiatives underway that focus on understanding risks that may be driven by climate change. In the following section we outline our approach to risk management and discuss some of the efforts we are undertaking to better understand climate-related impacts within our current risk management framework. | 0non-specific
|
United Nations Environment Programme FI LENDING PILOT CASE STUDY: TD and Bloomberg Testing Geospatial Mapping for Physical Risk Assessment1 TD collaborated with Bloomberg and Acclimatise to use an innovative geospatial solution for assessing physical risks of climate change (from both incremental changes and extreme weather events) to borrower credit ratings within the bank's lending portfolio. | 0non-specific
|
During 2019, we participated in the Carbon Disclosure Project and aligned our responses to the Task Force on Climate-related Financial Disclosures recommendations. Our 2019 score was B (Global average is C), consistent with the previous year but with improvements in scores on a number of dimensions including risk disclosure and risk management processes. | 1specific
|
Thanks to these investments, we are able to swiftly transfer work to unaffected locations if required and to keep potential financial impacts to a minimum.Based on our proprietary loss modelling, we calculate the annual expected losses (AEL) and loss-frequency distributions of major weather-related natural catastrophes. | 0non-specific
|
UBS is also involved in other activities to reduce gaps in climate-related financial data. We support the CDP, as an investor member as well as a questionnaire respondent, in their aim to improve company disclosure of risks and op- por tunities related to natural resources. We were also on the advisory panel of the Natural Capital Finance Alliance's advancing environmental management project. The pro- ject tool ENCORE, which maps how industry sectors depend on nature, was launched in November 2018. | 0non-specific
|
In addition to consumer loans aimed at improving the energy efficiency of properties, Argentina is focusing on promoting electric mobility by offering different financing products for cars, bicycles and electric scooters. | 0non-specific
|
Announced by CEO Mike Roman on Investor Day in November 2018, the Framework directs our efforts to areas where we can make the greatest impact: Science for Circular, Science for Climate, and Science for Community. | 0non-specific
|
Assessment of resilience to physical risks for the asset management business BNP Paribas Asset Management BNP Paribas Asset Management works with a spe- cialist research firm that provides it with physical risk scores, which are used to improve its investment analysis. | 0non-specific
|
The inte- rest rate on the loan is tied to two key perfor- mance indicators: (i) achieving a net positive impact on biodiversity in UPM's Finnish forests; (ii) reducing Carbon dioxide emissions generated from pur- chased fuel and electricity 65% by 2030 (com- pared to 2015 levels), in accordance with UPM's commitment to aligning its business with the 1.5 C climate scenario. | 1specific
|
PUBLIC POSITIONS AND PARTNERSHIPS ON ENERGY AND CLIMATE-RELATED ISSUES BNP Paribas firmly believes it is more effective to address the complex and global challenges of climate change by working together. With that in mind, the Group is a member of several coalitions on the front line of the fight against climate change, such as: - The Group belongs to the Breakthrough Energy Coalition, which supports innovation in the interest of deve- loping clean energy. Launched by Bill Gates during the Conference of the Parties - Climate Change 21 conference, the coalition combines innovative re- search funded by public-private partnerships; - BNP Paribas helped draft the Charter for Engagement 'Women leading climate action', of the Women's Forum, a charter that has now been signed by nearly 400 corporations, opinion leaders and other organisations. | 0non-specific
|
In addition to its efforts to develop sustainable products and services, the Bank has identified opportunities to be greener in its operations. The actions we have taken to improve the energy efficiency of our buildings have enabled us to currently exceed regulatory requirements and meet the expectations of our stakeholders. Over the past 20 years, the Bank has voluntarily adopted various measures to considerably improve the energy efficiency of its buildings. As a member of the Energy Savers Circle of Hydro-Quebec (a public utility that manages the transmission and distribution of electricity in Quebec), the Bank has set up an innovative web-based interface to remotely manage energy use at over 100 of its branches. This system allows the Bank to oversee its facilities and make sure they meet energy efficiency goals, year after year. The Bank also implements the criteria for Leadership in Energy and Environmental Design (LEED) certification in its buildings and aims for LEED v4 Gold certification for its new head office to be completed in 2023. Among other things, this allows the Bank to reduce its Greenhouse gas emissions despite an increase in activities. Our Greenhouse gas emissions for 2019 have been calculated at 9,732 tonnes of CO2-down 16% compared to 2017. The Bank has renewed its commitment to carbon neutrality by buying carbon credits to offset emissions that can't be eliminated. This year, the Bank has set a target to reduce its Greenhouse gas emissions by 25% by 2025. This science-based target aims to help limit global warming to 1.5 C, the most ambitious goal of the Paris Agreement. | 1specific
|
National Bank Investments Inc. National Bank Investments Inc. (NBI), a Bank subsidiary, is a signatory of the UN Principles for Responsible Investment (PRI) and a member of the Responsible Investment Association (RIA). | 0non-specific
|
Achieving carbon neutral operations will involve three steps for us. First, we will continue to reduce the energy consumption of our stabilized properties and entire announced development pipeline through maximizing onsite energy reductions. Second, we will continue to take advantage of all onsite solar and battery installation opportunities. Finally, we will make the remainder of the energy consumption | 0non-specific
|
For investment real estate in Switzerland, we apply the following sustainability criteria: analysis of energy sources as a percentage of market value and MINERGIE certifications. MINERGIE is a Swiss sustainability label for new and refurbished buildings. By the end of 2019, the combined value of our MINERGIE-certified buildings reached USD 0.4 billion, or 23% of our Swiss portfolio of direct real estate | 1specific
|
While the Trustee considers the impact of climate-related risks on all of the assets within which it invests, the primary focus has been on its equity exposure (although steps are being taken to extend this to the Scheme's holdings in publicly-traded corporate credit). The section above explained how the Trustee have co-developed the LGIM Future World Fund, its climate-related engagement activities and how the fund is used in both DB and DC strategies. | 0non-specific
|
Energy reductions from LEED certification retrofits are expected to be between 18-39%iii since the energy consumption starting point varies for every building. As energy is typically 25% of a residential building's total operating expenses, energy savings from LEED certification are expected to be between 4.5-10% of the total operating expenses. | 0non-specific
|
The very high-risk categories encompass risk exposure to counterparties mainly in Central Asia and Turkey and several countries outside the Bank's regions (mainly in the Gulf). The risk assessment is done based on the key risk counterparty. In particular, where a project has a guarantee, the physical risk assessment is based on the guarantor, which is considered to be the key risk party in such circumstances. | 0non-specific
|
In order to achieve Environmental Future Vision 2050, we set out the following breakdown of greenhouse gas (GHG) reduction targets for FY2030 and are promoting initiatives to achieve such targets. In 2020, we also acquired approval of the Science Based Targets (SBT) initiative regarding our FY2030 target. | 0non-specific
|
Climate resilience In October 2019, we updated our scenario analysis on the value of our generation portfolio, to evaluate the impact of the more ambitious Paris Agreement goal of a 1.5 C carbon reduction pathway.14 Our generation portfolio represented 84 per cent of our operated Scope 1 and Scope 2 emissions in FY2020. | 1specific
|
BNP Paribas Asset Management has committed to align its portfolios with the goals set out in the Paris Agreement. To that end, in 2019 BNP Paribas Asset Management announced that it would be implementing a new, more restrictive coal policy, which took effect on 1 January 2020. The policy applies to all open-ended funds actively managed by BNP Paribas Asset Management, and is set to become the standard for mandates as well. As of 2020, BNP Paribas Asset Management no longer invests in companies generating more than 10% of their revenue from thermal coal operations and/or for which thermal coal represents 1% or more of their total global production. Electricity producers with a carbon intensity exceeding the global average of 491 gCO2e/kWh in 2017 will also be ruled out, as BNP Paribas Asset Management aligns itself with the path set to reach the Paris Agreement goals, as determined by the IEA in its Sustainable Development Scenario (SDS). This scenario calls for electricity producers to reduce their carbon intensity to 327 gCO2e/kWh by 2025. Accordingly, BNP Paribas Asset Management will require the companies it invests in to reduce their carbon intensity to an SDS-compatible rate between 2020 and 2025, excluding those who fail to do so. | 1specific
|
NEW SOLUTIONS FOR SUSTAINABLE MOBILITY In addition to the research projects already mentioned on biofuels and hydrogen, Eni is investing in new fuels produced from waste: in this area a project is currently being assessed at the Livorno Re- finery involving production of methanol by high temperature gasification with oxygen of solid urban waste, made up of non-recyclable plastic waste (Plasmix, a mix of plastics not currently recyclable and SSF, Secondary Solid Fuel). The process is based on production of a synthetic gas from carbon-based material. The synthetic gas produced in this way is first purified so that it can subsequently be used to synthesise methanol or to produce pure hydrogen. Methanol produced using waste as a raw material could be considered as a Recycled Carbon Fuel, as provided for by the RED II European directive on renewable energy, and therefore assimilable to a biofuel. It can be used in petrols by transformation into MTBE, or mixed with experimental high alcohol content petrols together with bioethanol (A20 pet- rol). A new fuel, A20, based on a mix containing 15% methanol and 5% bioethanol has been developed with the FCA Group and subjected to a 13-month test in which five Fiat 500s of the Enjoy fleet travelled about 50,000 km, when rented out for a total of 9,000 times, without encountering any problems. A Waste to Fuel technology has also been developed that is able to convert the organic fraction of solid municipal waste (OFMSW) into bio-oil (see box on p. 39 of Eni for 2019 - A just transition). | 1specific
|
As an outcome of the nanced emissions and low-carbon scenario work, the Group has committed to work closely with 100 of its largest greenhouse gas emitting customers to support them in developing or improving their low carbon transition plans by 2023. | 0non-specific
|
In 2019, Bankinter committed to including the Task Force on Climate-related Financial Disclosures recommendations in its business model and drew up a road map for this purpose. Further, a sustainable finances work group was created to address future EU regulatory requirements. | 0non-specific
|
However, Iberdrola has plans, technology and predictive systems that allow for the impacts arising from these events to be minimised, some of which we describe below: o Meteoflow predictive system, the main purpose of which is to predict the electricity production of renewable facilities, which, as part of their continuous improvement, has included the functionalities of predicting extreme meteorological phenomena, which allows for the activation of emergency plans sufficiently in advance and better management of maintenance equipment and emergency retainers to increase their resiliency. o The importance of smart grids to respond to extreme events like what occurred in | 0non-specific
|
In addition, BlackRock's operations are carbon neutral. This achievement includes Scope 1, Scope 2, and Scope 3 employee business travel, serviced offices,2 and co-located data center emissions. We have achieved this milestone by employing energy efficiency strategies, achieving our 100% renewable energy goal,3 and offsetting emissions we could not otherwise eliminate.4 | 1specific
|
In addition to the carbon risk scenario analysis, S&P Global took steps to further explore the risks and opportunities presented above to assess and plan for a range of potential scenarios. The CFO convened a Scenario Discussion Workshop where members of senior leadership discussed the Company's current state, considered possible future scenarios, identified different risks and opportunities within these scenarios, and discussed the financial implication of these impacts on the Company. | 0non-specific
|
- For the first time, in 2019 and with the help of external specialists, BNP Paribas performed an assessment, on a sample of clients in its portfolio, of physical risks covering the consequences of climate change (extreme weather events) on the assets of Group clients. | 0non-specific
|
In 2019, HSBC participated in the Carbon Disclosure Project (formerly the Carbon Disclosure Project) working group to develop financial sector disclosure. We also partnered with climate change experts at MIT to produce exploratory transition scenarios. These scenarios were used to raise internal awareness of the different speeds with which transition could occur, the resulting investment requirements, the implications for energy system configuration and the broad macroeconomic costs. | 0non-specific
|
Furthermore, again in 2019, the following plants were completed: - the Adam plant in Tunisia (5 MWp with energy storage, 2.5 MWp Eni share) which will power the facilities at the Adam oilfield operated by Eni; - the photovoltaic plant at Katherine in Australia with a capacity of 34 MWp and energy storage; - 70% of the Badamsha wind farm in Kazakhstan, which is also an absolute first for Eni, with a total capacity of 50 MW (completed in February 2020). | 1specific
|
Environmental, Social, and Governance Data Factory S&P Global's cross divisional effort to identify opportunities and risks in Environmental, Social, and Governance is supported by a common data and technology backbone. Environmental, Social, and Governance Data Factory feeds S&P Global's Environmental, Social, and Governance offerings. Data sets include public- and private- company data, asset level | 0non-specific
|
A global product line was co-built with other Group business lines (Arval, BNP Paribas Rental Solutions and BNP Paribas Leasing Solutions, and the Group's partner Economie D'Energie (EDE)) centred on three of the company's areas of focus in order to reduce energy use: real estate, transport and mobility, and non-real es- tate assets. | 0non-specific
|
Loan Business In line with the Group Credit Policy adopted based on the Board of Directors resolution, 'Our Fundamental Stance of Loan Business' clarifies the Group's intention to maintain a dialogue with customers who have not yet fully committed to addressing social and environmental issues with the purpose of encouraging their involvement. In addition, it explains the Group policy of abstaining from extending new loans to projects deemed to be exerting a major negative impact on the environment. Specifically, the Group will no longer finance projects associated with coal-fired thermal power generation, except when it finds compelling reasons for financing such projects, such as to realize economic restoration following a disaster. The Group is engaged in the screening and selection of candidate projects accordingly. | 0non-specific
|
The aggregated estimate for the ve selected segments of the Group's Australian lending portfolio indicates that the Group lends approximately $23,320 to these sectors in Australia for every tonne of Greenhouse gas emissions released to the atmosphere by customers in these industry segments. | 1specific
|
Additionally, IEA scenarios provide a 2050 timeframe but considering the average transaction profile timeline, a shorter timeframe had to be considered when defining operational targets for the Bank. This timeframe should be short enough to allow the monitoring of the Bank portfolio and long enough to absorb short term evolutions. This timeframe should also allow readapting the Bank's targets to updated or new IEA scenarios to come. | 0non-specific
|
We plan to achieve these targets through two key thrusts. 1. Reduce negative impact by reducing emissions; 2. Move towards a balanced portfolio of low-carbon energy assets by growing our renewables capacity | 0non-specific
|
Over the last two years, the CGEN has encouraged the Group to make strong com- mitments when it comes to managing climate-re- lated risks and opportunities, in various ways: re- ducing support for the coal sector, strengthening the Group's climate goals, etc. | 0non-specific
|
e/million tonne The Employee Performance Scorecards (EPS) of the CFO and VicePresident Financial Planning include improvements in CN's fuel efficiency, in line with the Canadian rail industry medium-term emission intensity reduction target and the company's long-term science-based target. | 1specific
|
BNP Paribas has analysed climate scenarios developed by several external organisations and selected a few. The Group predominantly uses the scenarios developed by the IEA and the IPCC22 and, for France, the EpE's ZEN2050 analysis, which modelled a possible pathway enabling France to become carbone neutral by 2050. For several years, BNP Paribas has published, in its Registration Document, a yearly comparison of the energy mix that the Group finances with the energy mix in the IEA scenario compatible with the Paris Agreement goal. This scenario includes only energy-related emissions, but is one of the most widely recognised scenarios used around the world. For 2018 and 2019, | 0non-specific
|
Protecting our clients' assets: We offer innovative products and services in investment, financing and research. Examples include: - Our Asset Management (AM) business has developed the capability for equity portfolio managers to examine the carbon footprint of their portfolios and comparing the relative carbon footprints of their company holdings to that of the benchmark. Carbon emissions data is also made available to all equity portfolio managers through the Portfolio Optimization Platform, which allows portfolio managers and analysts to download carbon and carbon intensity data on over 6,000 companies. - In 2018, AM followed its successful UK Climate Aware rules-based fund with an Irish based fund that is available for international investors outside of the UK. The port folio is oriented towards companies that are better prepared for a low carbon future while reducing exposure to, rather than excluding, companies with higher carbon risk, in order to pursue strategic engagement with these companies. The strategy involves not only a reduction of the CO | 1specific
|
Paired with BlackRock's leadership in financial modeling and the power of Aladdin as a platform, Rhodium's data provides important new risk capabilities for our clients and for the industry.33 Aladdin Climate will power new Aladdin capabilities and add new risk metrics to BlackRock's modeling platform, and we will continue to extend our research across asset classes and geographies over time.34 Risks, opportunities & scenario analysis BlackRock recognizes the importance of effective identification, monitoring, and management of climate- related risks and opportunities across its global business. | 0non-specific
|
Insights or commitments we have gained from these early customer conversations include: Energy: our engagement in this sector has initially focused on customers with thermal coal operations; however, we are broadening this to include major upstream oil and gas producing customers. | 0non-specific
|
Anticipated major impacts on the Group There are risks that the Group becomes unable to continue its business operations due to a disaster that strikes our head office or branch offices and a risk of the increase in costs due to countermeasures and recoveries. | 0non-specific
|
In addition, a dedicated team within Group Risk Management analyses Emerging Risks (oft en related to long term Environmental, Social, and Governance issues) via a specifi c framework, tools and local network in order to monitor their materiality and manage their potential impact on the AXA Group in the next 5 to 10 years. Regular reviews and in-depth analyses of emerging risk topics are shared with the Group-wide Emerging Risks community. | 0non-specific
|
In 2019, PME redesigned the passively managed equity portfolio of equities in developed countries. The starting point of the new portfolio is that PME knows what we are investing in and why. The contribution of beneficiaries was important in this matter, as was the reduction of climate risk in the equity portfolio. - Since the beginning of 2018, PME no longer invests in coal producers. PME is convinced that the business operations of mining companies that focus solely on coal are not future-proof and these producers therefore represent a risk to PME's investment portfolio. Investments are also no longer made in producers of tar sand oil. Its production is seen as too harmful to the environment by PME, and the fund cannot identify with this. - Engagement. MN conducts a dialogue on behalf of its clients with companies in the equity portfolios that, in absolute terms, contribute a great deal to the portfolio's carbon footprint. MN does so in collaboration with Climate Action 100+. - Mandatory participation in the GRESB sustainability benchmark for real estate investments. | 1specific
|
Mobilizing private and institutional capital: We mobilize capital to support environmental and social issues, including the transition to a low carbon economy. For example: - We offer 100% sustainable cross-asset portfolios for private clients in Wealth Management, currently available in Switzerland and Germany. - Our wealth management business is developing a range of new thematic and pooled impact investments. - We participated in launching Align17 - a WEF Young Global Leaders initiative - an independent platform which stands out in connecting a wider range of public, institutional, and private wealth investors with investment opportunities related to the Sustainable Development Goals. - Our Asset Management business established a comprehensive approach to environmental and social factors, and to corporate governance, across investment disciplines. The 2017 Global Real Estate Sustainability Benchmark (GRESB) awarded ten of UBS Asset Management's real estate and infrastructure funds 5-star ratings, and seven funds ranked first in their respective peer groups. - Our Investment Bank provides capital-raising and strategic advisory services globally to companies offering products that make a positive contribution to climate change mitigation and adaptation, including those in the solar, wind, hydro, energy efficiency, waste and biofuels, and transport sectors. - We strive to be the preferred strategic financial partner relating to Switzerland's energy strategy 2050. And the UBS Clean Energy Infrastructure Switzerland strategy offers institutional investors unprecedented access to a diversified portfolio of Swiss infrastructure facilities and renewable energy companies. Due to client's demand, a successor strategy was launched in September 2017. | 0non-specific
|
We embrace our responsibility to understand and manage our own carbon footprint. Our approach is to limit and minimise our direct carbon impact and create awareness to encourage positive sustainable behaviour. We have achieved net-zero carbon emissions status in February 2020 within our global operations and committed to ongoing carbon neutrality in all our direct global operations. Over the short-term we are looking into sourcing our energy from renewable sources. | 1specific
|
We have made significant progress towards the goals we set out, including achieving our 100% Environmental, Social, and Governance integration goal for active strategies. For more detail on our progress, see 2020 sustainability actions. | 0non-specific
|