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Thursday, November 20, 2008

CLIMATE COUNTS RELEASES BANKING SCORE CARD-Research Shows Some Banks’ Money is Greener Than Others

CLIMATE COUNTS RELEASES BANKING SCORE CARD

Research Shows Some Banks’ Money is Greener Than Others

Energy Efficiency and Savings Key to Survival in Crisis



MANCHESTER, NH – HSBC, Bank of America and CitiGroup are the banks with the best performance on climate issues according to Climate Counts, which released its first scorecard ranking the climate protection efforts of major commercial banks. The scorecard is a reminder to institutions and consumers alike that energy conservation and waste reduction are important cost-saving measures in times of economic uncertainty.



“These challenging times represent a unique opportunity for the financial sector: consumers and investors have known for years that progress on climate issues can help bring down costs, bolster savings and streamline operations,” said Wood Turner, Climate Counts Project Director. “With the coming turnover in Washington, action on global warming is imminent, and financial institutions can be pacesetters on these issues, given growing consumer demand for climate progress even amidst continued economic uncertainty,” he added.



HSBC leads other major banks with a score of 65 out of a possible 100 points, with Bank of America and CitiGroup not far behind with scores of 60 and JP Morgan Chase in third with a score of 59. Three banks managed to earn just a single point, landing them at the bottom of the scorecard: National City, Regions and SunTrust banks.



Climate Counts’ company scores are on a 0-to-100 point scale and based on 22 criteria, measuring companies’ efforts to assess their climate “footprints,” reduce their global warming pollution, support (or oppose) progress on major climate legislation, and communicate their efforts clearly and comprehensively.



The Climate Counts Company Scorecard was developed with oversight from a panel of business and climate experts from leading non-governmental organizations and academic institutions. Criteria were chosen for their effectiveness at accomplishing a single goal – stopping global warming. Climate Counts researchers used these criteria to rate companies based on a point system for climate-related actions. Companies were given the opportunity to confirm and/or provide additional public data sources.



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About Climate Counts

Climate Counts is a non-profit organization bringing consumers and companies together in the fight against global climate change. It was launched and funded by Stonyfield Farm. Please visit www.climatecounts.org for more information.

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