Comerica Releases Corporate Responsibility Progress Report
Announces New Greenhouse Gas Reduction Goals and Ongoing Diversity Activities
Jun 29, 2018
DALLAS, June 29, 2018 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today announced the publishing of its 2017 Corporate Responsibility Progress Report at www.comerica.com/sustainability. The report updates the company's Global Reporting Initiative (GRI)-based comprehensive corporate responsibility report, published in 2017, and addresses Comerica's diversity and inclusion program.
"Comerica takes its leadership as a responsible company seriously and I'm pleased to share this update, which specifically focuses on our environmental progress as well as an overview of our active diversity and inclusion program," said Ralph W. Babb, Jr., chairman and chief executive officer of Comerica.
The report covers Comerica's environmental progress, including the launch of Comerica's third generation greenhouse gas reduction goals; updates on diversity and inclusion, including coverage of our workforce, board, customers, communities, and suppliers; highlights our support for military veterans, hurricane relief, and green lending; and Comerica's corporate responsibility efforts link to the United Nations 17 Sustainable Development Goals (SDGs).
"Comerica is excited to announce our latest GHG reduction goals which will take us to zero emissions by 2050," said Scott Beckerman, Comerica's director of corporate sustainability. "The new GHG reductions include a 50 percent reduction by 2025, 65 percent by 2030, and 100 percent by 2050 (all referenced to a baseline of 2012). In addition to these new GHG reduction goals, Comerica continues to close in on the achievement of our water and paper use reduction goals."
Regarding Comerica's diversity and inclusion strategy, providing our colleagues with varying levels of education is at the core of all our efforts.
"We define diversity as creating an environment that celebrates the differences among our colleagues and customers, knowing that such differences make us a stronger company," said Comerica's Chief Diversity Officer Nathan Bennett. "What makes our efforts so successful today is the understanding that diversity training is an ongoing process, not a one-time module or initiative. Comerica's Masters of Diversity Awareness program continues to offer our colleagues education and engagement options to learn about and celebrate our differences."
Comerica's performance as a responsible company was recently affirmed by a number of awards and recognition, including our listing on The Civic 50 as one of the 50 Most Community-Minded Companies by Points of Light, attaining Silver Status as a Veteran-Friendly Employer by the Michigan Veterans Affairs Agency, a 2018 Climate Leadership Award for Excellence in Greenhouse Gas Management, and a fourth consecutive perfect rating on the Human Rights Campaign 2018 Corporate Equality Index. In addition, both Bennett and Beckerman have recently been honored as outstanding leaders in their fields; Bennett having been named to the 2018 Black Enterprise's Top Executives in Corporate Diversity List and Beckerman having been recognized as one of the 2018 top 75 environmental leaders and a finalist for the Person of the Year award from Environmental Leader Magazine.
Also posted to Comerica.com is a stand-alone report ESG Impact Assessment: Comerica's Stakeholder Engagement Process and Evaluation of Environmental, Social and Governance Issues. This report details Comerica's process and evaluation of the key ESG issues affecting our business, as determined through our ongoing stakeholder engagement work. The report summarizes our previous work in this area and includes the results of our most recent ESG stakeholder engagement event hosted at the New York Stock Exchange.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
SOURCE Comerica Incorporated
For further information: MEDIA CONTACT: Yolanda Walker, (214) 462-4463; INVESTOR CONTACTS: Darlene Persons, (214) 462-6831 or Chloe Dankworth, (214) 462-4132