Environmental responsibility

Investing in sustainable business opportunities

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We care deeply about promoting sustainable business practices while supporting economic growth.
It’s one of the reasons we have invested $20.5 Billion in green initiatives since 2008

We embrace a balanced approach while addressing climate change and the needs of our communities, customers, employees and shareholders. Environmental sensitivity is an important component of our credit, investment, underwriting and payment procedures and is integrated into our overall risk management philosophy.

In 2017, we joined the Ceres Company Network to engage with more than 50 companies in more than 20 sectors on environmental issues.

Through this partnership, we recently completed a detailed materiality assessment, which offers valuable insight on how to address critical sustainability issues such as:

This assessment will guide our Environmental, Social and Governance priorities and investments, as well as facilitate stakeholder dialogue and feedback. Our partnership with Ceres will also help us improve our understanding of how our work supports and advances the recommendations from the Task Force on Climate Related Financial Disclosures (TCFD) and the United Nations Sustainable Development Goals (SDGs).

We are committed to partnerships that support renewable energy efforts and sustainable business practices, while promoting job growth.

In 2018, we partnered with GRID Alternatives, a nonprofit and national leader in making clean, affordable solar power and solar jobs accessible to disadvantaged communities, in order to help fund the expansion of their Tribal Program.

This partnership will bring solar power and solar job training to more than 40 tribes across the United States.

During 2018, U.S. Bank provided $1 billion to help finance the development of over 1.5 gigawatts of solar energy across the country. The construction of these facilities supported 17,000 jobs and created enough renewable energy
to power more than 240,000 homes. The carbon offset of these investments is equal to: removing 377,000 passenger vehicles
from the road, or planting 2 million acres of forest.

Finally, we are committed to operating in a more sustainable manner.

Our goal is to reduce operational greenhouse gas (GHG) emissions

40% by 2029

and

60% by 2044

As of year-end 2017, we have reduced our emissions by 18%.

We’re proud to have received a score of A- from CDP (formerly known as the Carbon Disclosure Project) in 2016, 2017 and 2018.