Environmental Responsibility

Environmental responsibility is integral to the success of our business.

Wyatt Atkinson installs solar panel photo
U.S. Navy veteran and Assiniboine and Sioux tribal member, Wyatt Atkinson, installs solar panels as part of the U.S. Bank partnership with GRID Alternatives.

Since 2008, we’ve invested: 20.5 billion dollars 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.

Environmental responsibility is a 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. Our partnership with Ceres helps us create a framework to 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).

Throughout 2018, we provided $1 billion to help finance the development of:

The carbon offset of these investments is equal to removing 377,000 passenger vehicles from the road or planting two million acres of forest.

We support renewable energy development through our investments and continue to be an active investor in community solar gardens.

We are dedicated to operating in a more sustainable manner.

Using a 2014 baseline, we have set a goal to reduce our operational greenhouse gas (GHG) emissions by: 40%by 2029 and 60%by 2044

As of year-end 2017, we have reduced our emissions by 18% and we are continuing to build new branch locations to the Leadership in Energy and Environmental Design (LEED) certified standards. To date, we have 26 LEED certified branches with plans to build more locations in the future.

We are committed to providing a culture that inspires and facilitates environmental responsibility and recognizes that our employees are vital to our success.

We currently have over 30 employee green teams throughout the company who lead efforts to engage employees in local and community environmental efforts. We’re proud to have received a score of A- from CDP (formerly known as the Carbon Disclosure Project) in 2016, 2017 and 2018.

Boys and Girls Clubs of Cleveland cultivate plant photo
U.S. Bank partnered with Boys & Girls Clubs of Cleveland to expand the organization’s horticulture program.

Environmental responsibility is crucial in helping close the gap between people and possibility.

U.S. Bank is a national leader in financing renewable energy which makes communities more environmentally sustainable as well as more economically resilient through access to affordable energy and the promotion of job growth.

As a leader in this space, we are committed to financing solar in a way that promotes the highest degree of access possible for all people. Our mission is to expand the opportunity for affordable, clean energy to more communities.

Zack Boyers
CEO of U.S. Bancorp Community Development Corporation

Villa Hermosa — Santa Fe

Access to the benefits of renewable energy is often out of reach for many low- and moderate-income (LMI) communities.

Neighborhoods like Villa Hermosa provides solutions that close that gap.

Genevieve Maes remembers the first time she noticed solar panels on the roof of the newly rehabbed Villa Hermosa affordable housing complex for seniors where she lives in New Mexico.

With temperatures soaring into the 90s during the summer, New Mexico’s elderly residents can find themselves doubly vulnerable: seniors are often more susceptible to heat illness and living on a fixed income might make them reluctant to incur high utility costs to keep cool.

The Santa Fe Civic Housing Authority, an agency created to build and operate low- and moderate-income housing, has already began to focus on sustainability for its residents.

“Our goal is to keep utility costs as low as possible for our tenants, who can face eviction if they cannot pay for their utilities,” explains Ed Romero, Executive Director of the Santa Fe Civic Housing Authority. “To support this community, it was critical to create our own energy through solar applications.”

Understanding the need for environmentally sustainable housing, USBCDC partnered with the housing authority in 2011. Since then, both entities have completed five projects, including Villa Hermosa, which provides affordable, energy efficient housing units for almost 300 seniors and 200 low-income families.

USBCDC has invested more than45 million dollars in
low-income housing
and renewable energy tax credits in all projects.

Completed in 2018, the Villa Hermosa project focused on renovating almost 120 affordable, energy-efficient apartments spread across one-story buildings. The project meets the LEED green construction standards, including solar panels on the buildings’ roofs, LED lighting, ENERGY STAR appliances, energy efficient cooling and heating systems, and courtyards landscaped with drought-tolerant plant species.

“Affordable housing projects serve a population that has a limited budget,” Romero says. “Therefore, we see sustainability as a great opportunity to manage costs and to share those benefits with our residents.”

Genevieve Maes photo
Villa Hermosa resident Genevieve Maes.