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Since 2008, we have invested more than $43 billion in environmentally beneficial business opportunities. We embrace a balanced approach that is centered on learning and partnering with our stakeholders as we address climate change and the needs of our communities, customers, employees and shareholders. This approach is one of the reasons why we were named a World’s Most Ethical Company by the Ethisphere Institute for the eighth year in a row.
We’re continuously working on reducing our impact on the environment. We do this by decreasing our use of natural resources, implementing environmentally responsible business practices, developing products and services that help our customers reduce their carbon footprint, investing in new products, services, and partnerships like renewable energy, and increasing our due diligence around lending in high impact industries. Our approach isn’t just better for the environment, it’s also a smarter way of doing business.
“We strive to be a responsible steward of the environment and acknowledge that we have a responsibility to our customers, employees, investors and the communities that we serve to better understand the impact of our operations on global climate change and to help reduce that impact.”
U.S. Bank Chairman, President and CEO
We are dedicated to operating in a more sustainable manner. Under a 2014 baseline, we set a goal to reduce our operational greenhouse gas (GHG) emissions by 40% by 2029 and 60% by 2044.
Within our own operations we reduced GHG emissions by over 40% as of the end of 2019 (reaching our first GHG target 10 years earlier than goal) and have reduced emissions 54% as of the end of 2020. We continue to make progress toward reaching our 60% target (which we expect to occur ahead of our 2044 target date).
The Environmental and Social Risk Policy Statement is the centerpiece for our sustainability governance and guides us in improving our sustainability efforts today and in the future. We review our practices and policy every quarter and look for additional opportunities to make a positive impact.
We work hard to continuously strengthen our environmental governance and programs, and it's been noticed. CDP, a global environmental nonprofit organization, consistently recognizes U.S. Bank for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy. We're proud to have earned a score of A- in 2021 – our sixth year scoring an A- or higher.
You can read more about our overall environmental, social and governance (ESG) work in our Annual 2020 ESG Report. Additionally, our 2021 ESG Highlights Report is now available, with a full report coming this summer.