SOURCE: KeyBank
DESCRIPTION:
Highlighting its purpose to help clients and communities thrive, KeyCorp has released its 2020 Environmental, Social, and Governance (ESG) report. The report includes the results from the first four years of the National Community Benefits Plan. Under this plan, KeyBank has provided more than $18 billion focused on economic access and equity for underserved communities and populations. The report also includes Key’s progress towards attainment of long-term environmental goals.
KeyBank’s 2020 Environmental, Social, and Governance Report can be found here.
“Corporate citizenship matters. It especially matters in a year when our entire country faced unprecedented challenges due to a global pandemic,” said Chris Gorman, KeyCorp’s Chairman and CEO. “Throughout 2020, we have taken countless steps to ensure that our clients, our colleagues, and our communities are safe and well-served. Our purpose to help clients and communities thrive means KeyBank will continue to provide our neighbors and neighborhoods with the support and services they need.”
KeyCorp’s annual Environmental, Social, and Governance report has been significantly expanded and includes measurements associated with the sustainability and social impact of the company’s investments. The report provides an update on the company’s priorities and progress as both a responsible bank and corporate citizen. Highlights of the report include:
- In 2020, KeyBank invested $6.5 billion into the communities it proudly serves through its National Community Benefits Plan. Key surpassed its aggregate commitment of $16.5 billion under the Community Benefits Plan and has invested more than $18 billion over the past four years in affordable housing, mortgages and small businesses in low- and moderate-income communities, and transformational philanthropy.
- KeyBank processed more than 66,000 loans for small businesses and nonprofits with critical funding through the Paycheck Protection Program. KeyBank also provided $18 million in philanthropy to support individuals and communities impacted by COVID-19.
- KeyCorp’s Board of Directors is 47% diverse and 25% of external manager and executive-level hires in 2020 were People of Color.
- Key provided $5.2 billion in renewable energy projects and was a top provider of renewable energy financing in North America in 2020.
- KeyBank continues to reduce its environmental footprint, with 2020 greenhouse gas emissions decline 24% compared to 2016.
“The Environmental, Social and Governance landscape continues to evolve at an incredible and necessary pace,” said Eric Fiala, Key’s Head of Corporate Responsibility. “KeyBank’s ESG legacy is strong, as highlighted in our 2020 report, but we know our work is far from done. The 2020 report provides a detailed look at the past year as well as a roadmap to where we’re headed.”
KEYWORDS: keybank, 2020 ESG Report, NYSE:KEY
