DALLAS, June 9, 2014 /PRNewswire/ -- Comerica Incorporated today announced it has been rated the highest scoring U.S. bank in the recently released Newsweek 2014 Green Rankings U.S. 500 list, which ranks the 500 largest publicly-traded companies in the United States by market cap. Overall, Comerica was rated #138, up from #372 in 2012, the last time Newsweek completed its green rankings.
The Newsweek 2014 Green Rankings evaluate companies using eight metrics that collectively provide a transparent measurement of overall corporate environmental performance. Companies were scored on each metric against their industry peers using a 0-100% scale. Using an industry-relative scale provides a chance for companies in every industry to score high or low depending on the choices they have made. To assess companies on corporate reputation and environmental risks and litigation, Newsweek research partner Corporate Knights Capital partnered with RepRisk, a business intelligence provider on environmental, social and governance risks.
"We are pleased to be the highest rated U.S. bank on the list this year," said J. Scott Beckerman, senior vice president and Chief Sustainability Officer for Comerica. "Though the methodology has changed since the last ranking in 2012, we believe our significant improvement demonstrates the ongoing commitment of our colleagues to increase Comerica's focus on sustainable business practices. Sustainability and 'green' rankings have moved beyond just emissions and reflect our commitment to sustainability as a driver of business value that helps to support our role in our host communities and retain our position as our customers' trusted advisor in a greening economy.
"Our overall score, and scores of other banks, reflect the need for additional progress," added Beckerman. "At Comerica, we will work diligently to continue our sustainability performance improvement in the years to come. We look forward to sharing the results of our emissions reductions progress in our 2013 Sustainability Progress Report to be published in the coming weeks."
The Newsweek ranking continues Comerica's positive recognition for its sustainability performance and leadership. In 2013, Comerica achieved a position in the Carbon Disclosure Project (CDP) Performance Leadership Index, recognizing its ongoing progress in reducing emissions and reducing resource consumption. In addition to an ongoing listing on the FTSE4Good Index, Comerica was included in the Thomson Reuters Corporate Responsibility Indices in both the Environmental and Governance categories. Regarding ongoing efforts to green the supply chain, Comerica was recognized by Office Depot with its Leadership in Greener Purchasing award for the second time in three years. Comerica was also the only U.S. bank to be listed as a 2014 Natural Capital Efficiency Leader in GreenBiz's Natural Capital Leaders Index.
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 $65.7 billion at March 31, 2014.
SOURCE Comerica Incorporated