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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-re...
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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...
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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...
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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.
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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 ...
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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 man...
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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 ...
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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 ful...
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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 appr...
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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...
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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 acqu...
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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 ...
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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 ...
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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 rep...
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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.
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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 Inv...
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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 acqui...
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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.
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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...
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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.
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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 Uni...
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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 sc...
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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.
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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 effor...
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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.
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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 ...
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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.
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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 ...
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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.
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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 area...
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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 su...
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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.
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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.
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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 Ca...
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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...
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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 ...
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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.
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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 EP10...
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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 Sustain...
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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.
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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 ...
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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...
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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 kilom...
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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.
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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, ...
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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.
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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.
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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 operat...
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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.
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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.
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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-dr...
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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 Gov...
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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 res...
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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 ...
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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 we...
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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 discl...
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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...
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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 Nat...
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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.
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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.
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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.
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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 t...
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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...
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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 stakeho...
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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).
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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 ins...
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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 ...
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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 c...
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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 th...
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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...
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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.
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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...
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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...
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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 o...
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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.
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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.
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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 contin...
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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 off...
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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, consider...
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- 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.
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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 differ...
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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 ...
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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 Gov...
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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 e...
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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 encour...
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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.
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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...
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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
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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.
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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.
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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 ...
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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 footpri...
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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 cont...
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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.
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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.
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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 ye...
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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. - S...
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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 ...
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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 ...
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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.
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