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U.S. Bank shares Task Force on Climate-Related Financial Disclosures Report

December 22, 2023

Man on roof with solar panels. — The TCFD Report offers a look at how U.S. Bank is further developing its climate strategy and focusing on three areas of work to support the strategy

2022 report provides updates on climate-related activities

U.S. Bank today released its 2022 Task Force on Climate-Related Financial Disclosures (TCFD) Report, which shares the progress the bank has made in identifying and addressing climate change through risk management practices and commercial strategy.

This is the bank’s second TCFD Report following its 2021 commitment to align climate-related disclosures with the TCFD recommendations.

Covering governance, strategy, risk management, and metrics and targets, the report offers a closer look at how U.S. Bank is further developing its climate strategy and focusing on three areas of work to support the strategy. That includes reducing the bank’s environmental footprint; identifying and managing climate-related risks; and supporting a balanced transition to a net zero economy through client engagement and sustainable finance.

“We are focused on driving long-term success by offering innovative products and services and prudently managing climate risk while supporting our customers and the communities where we do business,” said Reba Dominski, senior executive vice president and chief social responsibility officer at U.S. Bank.

In 2021, U.S. Bank announced a series of environmental goals including: achieving net zero greenhouse gas emissions by 2050, sourcing 100% renewable electricity in U.S. Bancorp operations by 2025 and setting an environmental finance goal of $50 billion by 2030.

Visit the 2022 TCFD Report site to access the full report..

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U.S. Bank releases Task Force on Climate-related Financial Disclosures report

The 2021 report details the bank’s progress on climate-related disclosures.

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