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The 2022 ESG report offers a comprehensive look at how the bank is doing business in an environmentally sustainable and socially responsible manner while driving growth and innovation  

Today U.S. Bank released its 2022 Environmental, Social and Governance (ESG) Report, which showcases the bank’s commitment to being a responsible corporate citizen to meet the evolving needs of our customers, employees, communities and other stakeholders.

The report covers the bank’s efforts throughout 2022 to advance initiatives, such as:

• Providing $410 million in capital to Black, Indigenous and people of color-owned or -led clients through U.S. Bancorp Impact Finance
• Investing $2.7 billion in renewable energy tax equity
• Contributing $64 million in corporate donations and U.S. Bank Foundation grants
• Increasing the minimum hourly wage for its employees in the U.S. to $20
• Receiving an Outstanding rating from the most recent Community Reinvestment Act exam

“Helping people, businesses and communities thrive is an important part of who we are at U.S. Bank,” said Andy Cecere, chairman, president and CEO of U.S. Bank, in the report. “When we lead with our core values, work to increase equity, access and economic empowerment, and enable a more sustainable world, we are helping to create a prosperous future for us all.”

U.S. Bank takes an enterprise-wide approach to ESG by engaging its business line; risk and governance; corporate social responsibility; and diversity, equity and inclusion teams to drive progress. Its ESG focus areas include U.S. Bank Access Commitment™, the Community Reinvestment Act, U.S. Bancorp Impact Finance and the U.S. Bank Foundation – helping the bank stay true to its core values and address complex issues by leveraging expertise across its businesses.

“From our long-term, broad-scope sustainability commitments to the things we do every day to keep people and information safe, we’re powering opportunities for growth and innovation within U.S. Bank, our industry and the communities we serve,” said Reba Dominski, senior executive vice president and chief social responsibility officer. “This work helps us evolve our business and have a positive impact on people and the planet.”

The report has been informed by external frameworks such as the Sustainability Accounting Standards Board standards and the Global Reporting Initiative reporting standards.