DALLAS, Sept. 29, 2014 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) has been recognized as a leader among S&P 500 companies by environmental non-profit CDP for its actions to reduce carbon emissions and mitigate the business risks of climate change. This is the second consecutive year Comerica has achieved a position in the CDP S&P 500 Climate Performance Leadership Index (CPLI).
In addition to the inclusion in the CPLI, Comerica has previously achieved four listings in CDP's S&P 500 Climate Disclosure Leadership Index. This annual index spotlights companies listed on the Standard & Poor's 500 Index (S&P 500) that have demonstrated a commitment to managing climate change by integrating it into their business strategy and taking actionable steps to their impact on the environment.
CDP, the world's only global environmental disclosure system, is announcing the achievement in the CDP S&P 500 Climate Change Report 2014, which presents new analysis linking S&P 500 industry leaders with financial outperformance. Comerica provided information at the request of 767 investors, representing more than $92 trillion in assets, through CDP's climate change program. The program facilitates corporate management and reporting of greenhouse gas emissions and climate-related risks and opportunities.
Company disclosures to CDP are assessed against CDP's respected scoring methodology. The CPLI showcases companies that receive the highest band of "A" for their climate performance assessment. This score evaluates how companies are measuring, verifying and managing their carbon footprints. Sixty-three S&P 500 companies are featured in the 2014 S&P 500 CPLI.
"At Comerica, we believe a credible approach to sustainability can both improve our operating performance and increase stakeholder's trust in our company," said J. Scott Beckerman, senior vice president and Director of Corporate Sustainability for Comerica. "In line with our value creation approach to sustainability, we are pleased to see this year's CDP report link climate change management of leading companies to superior financial performance, including generating superior profitability, lower volatility of earnings, and stronger dividend growth."
Comerica's senior sustainability officer, Kristin Bloser added, "I am very happy with the sustainability progress our colleagues have made, including our reduction in real estate portfolio emissions through energy efficiency improvements and engagement with our supply chain. This focus helped us to exceed our first emissions reduction goal one year earlier than planned." Comerica announced earlier this year that it had reduced real-estate related GHG emissions by 18.9 percent at the end of 2013 (compared to 2008), well ahead of its goal of a 15 percent reduction by the end of 2014.
Paul Simpson, Chief Executive Officer of CDP, said: "Global greenhouse gas emissions continue to rise, and we face steep financial risk if we do not mitigate them. The business case for action to reduce climate change has never been stronger or more urgent. For this reason we congratulate those businesses that have achieved a position on CDP's S&P 500 Climate Performance Leadership Index. These companies are responding to market demand for environmental accountability and at the same time are making progress towards the realization of sustainable economies."
About Comerica
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 $65.3 billion at June 30, 2014. 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.
About CDP
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 767 institutional investors with assets of US$92 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.
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