RiskMetrics Group, a leading provider of risk management and corporate governance services to the global financial community, announced today it will be holding a webcast on Friday, January 11 at 11 a.m. EST on how the financial services sector is addressing climate change. The webcast, part of the firm's What You Need to Know for 2008 educational program, will specifically cover key findings from a new report, entitled, Corporate Governance and Climate Change: The Banking Sector, authored by RiskMetrics Group and released today by Ceres and the Investor Network on Climate Risk.
With nearly $6 trillion in market capitalization, the global financial sector will play a vital role in supporting timely, cost-effective solutions to reduce global greenhouse gas emissions. This report examines how forty of the largest institutions in the banking sector are preparing to face the challenges of minimizing climate risks. Findings from the report reveal that European banks are at the forefront of integrating climate change into environmental policies, risk management and product development. The forty banks analyzed include sixteen U.S., five Asian, three Canadian and one Brazilian bank. Banks' climate governance practices were measured using a Climate Governance Index, developed by RiskMetrics Group in conjunction with Ceres and the Investor Network on Climate Risk.
See full Press Release.
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