Financial Sector Climate Change Question 7

From RankaBrand

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Question

Does the brand measure its 'financed' or ‘underwritten’ emissions of at least one portfolio and does it aim to reduce this?

Dutch version:

German version: Misst das Unternehmen Emissionen, die es finanziell oder anderweitig unterstützt, in mindestens einem Geschäftsbereich? Plant es, diese zu reduzieren?

References:

Financed emissions by far exceed a bank’s operational emissions. Banks should require their clients to adopt a greenhouse gas accounting and public reporting system such as the GHG Protocol. Greenhouse data from every client need to be evaluated in every lending and financing decision and an appropriate carbon price needs to be reflected in every business calculation. In doing so, banks can build upon the work of the Carbon Disclosure Project, a coalition of institutional investors which regularly asks the world’s largest companies to report their annual investment-related and emissions information relating to climate change. Even though the CDP is an important initiative to promote more transparency and disclosure on climate change, the responses are voluntary and the quality of the responses varies widely. (Ceres Report on Climate Change)

Ranking guidelines:

Financing and Underwriting – Reward ‘yes’ when the brand has a clear measuring system which shows a breakdown of its financed emissions for at least one portfolio, eg utilities.

Investing – Answer yes when brand does not actively invest in companies in the oil and gas sector (same as question 2) OR only invests in best in class in a climate change context to encourage best practice.