Comerica Incorporated Recognized by CDP For Commitment to Reduce Environmental Impacts
DALLAS, Sept. 25, 2013 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) has achieved a position in the CDP S&P 500 Climate Performance Leadership Index. This annual index highlights those companies listed on the Standard & Poor's 500 Index (S&P 500), including Comerica, that demonstrate strategies committed to improving their impact on the environment. While Comerica achieved a position in the CDP S&P 500 Climate Leadership Index related to climate change disclosure in four previous years, this is the first time the company has been listed on the Climate Leadership Index related to its environmental performance.
Comerica's actions to reduce carbon emissions and mitigate the risks of climate change have been recognized by CDP, the world's only global environmental disclosure system. The achievement is announced in the CDP S&P 500 Climate Change Report 2013, which tracks how America's largest listed companies are responding to a changing climate.
At the request of 722 investors representing $87 trillion in assets, Comerica took part in CDP's climate change program, designed to increase awareness of how to achieve efficiencies, realize monetary savings and capitalize on commercial opportunities from the management of energy, carbon emissions and climate change.
Achieving an 'A band' for climate performance is a prerequisite for a position on the leadership index, which is based on a number of criteria associated with measuring, verifying and managing carbon footprints. Some 36 S&P 500 companies are featured in the 2013 Climate Performance Leadership Index.
"Comerica is pleased with the recognition by CDP for our bank's management of climate change-related risks and opportunities," said J. Scott Beckerman, senior vice president and director of Corporate Sustainability for Comerica. "We are proud to be recognized in this exclusive group of companies committed to creating sustainable, long-term value for shareholders and other stakeholders. Our commitments to reduce greenhouse gas emissions and resource consumption are being realized and it is due to colleagues across Comerica that have been involved in these efforts."
Comerica's senior sustainability officer, Kristin Bloser added, "We've made good progress in expanding our emissions management and reporting initiatives, including our work with business partners in our supply chain and our efforts to provide environmentally beneficial loans to our customers. Comerica looks forward to further embedding sustainability into our organization and continued progress towards meeting our emissions reduction goal."
Tom Carnac, President for CDP in North America said: "American companies protecting themselves against climate risks and preparing to capitalize on the opportunities a changing climate presents are building competitive advantage. Increasingly we are seeing that taking action to address climate change is good for business, so I am very pleased to see more US companies recognized in the CPLI than ever before."
The S&P 500 report including names of companies featured in the CPLI can be found at www.cdp.net.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $62.9 billion at June 30, 2013. To find us on Facebook, please visit www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares and follow Comerica Chief Economist Robert Dye on Twitter at @Comerica_Econ.
CDP 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. CDP works with market forces, including 722 institutional investors with assets of US$87 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions. Please visit www.cdp.net or follow us @CDP to find out more.
SOURCE Comerica Incorporated