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A Look Forward

We’re excited about the opportunity we have to get better every day and to strengthen our communities through strategic investments and productive partnerships.

I never thought I would be a banker. My family still glances over skeptically when I offer to be the banker when we play board games like Monopoly or the Game of Life. But in my role as chief social responsibility officer at U.S. Bank, I have come to understand that banking is really about people and helping them achieve their possible. I have learned that bankers are in the business of economic development, community development and workforce development. And I have the privilege of shaping, organizing and bringing to life the stories of 74,000 U.S. Bankers working hard every day to make people, families and communities stronger. And for that, I’m proud to be a banker.

At U.S. Bank, we call our approach to corporate social responsibility “Community Possible.” Community Possible is focused on closing the gaps between people and possibility, gaps that are far too wide for too many people in this country. Across the company, we are constantly looking for ways to bring our CSR commitment to life through opportunities to make community possible in moments big and small.

It’s the big moments, such as our announcement in January 2018 that we would be using tax reform savings to raise wages, provide bonuses to many of our employees, and invest in community through a $150 million contribution to the U.S. Bank Foundation. These investments will help us drive meaningful community impact for years to come.

It’s also the small moments that do not make headlines. Every week, our senior leaders and front-line bankers reach out to understand how a project they are working on might have a positive impact on our employees, our customers and the world they live in. Or when I work with our impact investing team to help clients invest funds to drive a financial return as well as a positive social and environmental impact.

I am proud of what we accomplished in 2017, but there is still so much work to be done. In the year ahead, we will focus on our Environmental, Social and Governance (ESG) efforts and getting better every day by listening and learning from key stakeholders.

Reba Dominski
Chief Social Responsibility Officer, U.S. Bank
President, U.S. Bank Foundation

One of our new initiatives to do just that is the formation of an external Community Advisory Council (CAC), a group made up of diverse, respected community leaders. We launched the CAC to create a forum and ideas exchange between bank and community leaders to help advance our community efforts.

Another new element to our CSR work is a partnership with Ceres. Ceres is a nonprofit whose mission is to integrate sustainability into capital markets. U.S. Bank joined the Ceres Company Network in July of 2017. We are working with Ceres on a materiality assessment to help guide our ESG priorities and investments and facilitate stakeholder dialogue and feedback.

Our partnership with Ceres also will 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). U.S. Bank discloses much of the TCFD recommended qualitative material annually through the CDP reporting process, including climate change risk and opportunities to our business and our governance structure to identify and react to those risk and opportunities. We are actively looking at ways to better align with the recommendations and will continue to evaluate ways to improve our reporting and disclosure. Some ways we are already driving progress toward the UN 2030 agenda include:

  • Our investments in renewable energy projects support Goal 7 – Affordable and Clean Energy.
  • Our business activities fundamentally contribute to Goal 8 – Decent Work and Economic Growth.
  • We aim to contribute to communities in ways that advance Goal 10 – Reduced Inequalities.
  • Our investments in affordable housing drive towards Goal 11 – Sustainable Cities and Communities.
  • Our work internally to reduce waste and energy use moves us toward Goal 12 – Responsible Consumption and Production.
  • Our GHG reduction commitment addresses Goal 13 – Climate Action.

We look for continued opportunities to support these movements and to engage stakeholders throughout this process.

As we look forward, I’m excited about the opportunity we have to get better every day and to strengthen our communities through strategic investments and productive partnerships. Together, we make community possible.

Reba Dominski Chief Social Responsibility Officer, U.S. Bank
President, U.S. Bank Foundation

 

Contributed
$150M
to U.S. Bank Foundation in January 2018

ESG: Environmental, Social, Governance - An Integrated Part of How We do Business

In the year ahead, we will focus on our Environmental, Social and Governance (ESG) efforts and getting better every day by listening and learning from key stakeholders.

Environmental

  • Our employees are leading the way. U.S. Bank has more than 30 employee green teams which lead sustainable volunteer efforts across the company.
  • We have committed to reducing our operational greenhouse gas (GHG) emissions by 40 percent by 2029 and 60 percent by 2044, using a 2014 baseline.
  • We’re proud to have received an A- from CDP in both 2016 and 2017 in our climate change disclosure.
  • Our environmental commitments align closely to the United Nations Sustainable Development Goals (UNSDG).

Social

  • In recognition of our commitment to a diverse workplace, we have been named to the 2018 Forbes Best Employers for Diversity List.
  • For 11th year in a row, U.S. Bank received a score of 100 on the Human Rights Campaign’s (HRC) Corporate Equality Index.
  • U.S. Bank was named to the Military Times “Best for Vets Employer” 2010-2017.
  • In 2017, over 15,000 employees belonged to one of our 10 Business Resource Groups, a 40 percent increase over 2016.

Governance

  • Our Board’s Public Responsibility Committee oversees our policies related to corporate social responsibility matters, including environmental sustainability.
  • We are committed to diversity in our leadership: 42 percent of our directors are people of color or women.
  • U.S. Bank is proud to have been named one of the Most Trusted Companies for Retail Banking by the Ponemon Institute for the 11th year in a row, one of the World's Most Ethical Companies® Ethisphere® Institute for the fourth consecutive year, and the Most Admired Superregional Bank by FORTUNE for the eighth year in a row.

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