First Horizon Corporation Releases Corporate Social Responsibility and Environmental, Social and Governance Impact Report

Rhea-AI Summary

First Horizon Corporation (NYSE: FHN) has published its Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) Impact Report for 2021 and early 2022. The report outlines progress across five key pillars: Governance, Associates, Clients, Communities, and Environment. Notable achievements include assigning ESG oversight to the board, calculating GHG emissions, and investing over $19 million in community initiatives. The company emphasizes its commitment to sustainable economic growth and enhancing stakeholder value.

Positive

• Assigned ESG oversight to the board, enhancing governance.
• Distributed over $19 million to nonprofits for community support.
• Expanded Diversity, Equity, and Inclusion (DEI) team, with women in key leadership roles.

Negative

• None.

MEMPHIS, Tenn., June 29, 2022 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") today released its Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) Impact Report highlighting progress made in 2021 and in the first few months of 2022. The report focuses on five interrelated pillars - Governance, Associates, Clients, Communities and Environment - that guide the company's business.

"As the world continues to change and our company grows, the role we play in supporting sustainable economic growth and societal progress remains critically important" said Bryan Jordan, President and Chief Executive Officer. "Being HERE FOR GOOD for all our stakeholders is at the core of our organization, and I am excited to share the progress we have made in advancing our ESG strategy and priorities and understanding the correlation with business resiliency, value creation and long-term organizational success."

Highlights over the past year include:

Governance

• Assigned ESG oversight to the Nominating and Corporate Governance Committee of the board of directors with regular updates to the full board of directors
• Developed focus areas aligned with our ESG pillars
• Operationalized ESG priorities through CSR Working Group and Task Forces
• Started alignment with Task Force on Climate-related Financial Disclosures (TCFD) recommendations and Sustainability Accounting Standards Board (SASB) disclosures

Environment

• Calculated and reported Scope 1 &2 location-based GHG emissions using 2019 as baseline year
• Conducted initial loan portfolio analysis looking at physical and transition risks and opportunities
• Continued to support environmental, community and nature-based projects

Associates, Communities and Clients

• Distributed over $19 million in 2021 through nonprofits to fund opportunities for growth and development and to address important issues prevalent in our communities
• Continued to provide tools, resources and support to promote associates' financial, mental and physical well-being
• Supported financial literacy through Operation HOPE, Junior Achievement and other programs
• Refined and enhanced our cyber risk management practices and provided tools to clients and associates to help mitigate risks

Diversity, Equity and Inclusion

• Expanded DEI team and launched enterprise-wide DEI Council
• Committed to the CEO Action for Diversity & Inclusion ^TM
• Named women to key leadership roles: COO, CFO and CHRO

To read the full report, visit https://www.firsthorizon.com/First-Horizon-Corporation/Corporate-Social-Responsibility

First Horizon Corp. (NYSE: FHN), with $88.7 billion in assets as of March 31, 2022, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

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SOURCE First Horizon Corporation

FAQ

What is the focus of First Horizon's recent ESG Impact Report?

The report focuses on Governance, Associates, Clients, Communities, and Environment.

How much did First Horizon invest in community initiatives in 2021?

First Horizon distributed over $19 million through nonprofits to support community growth.

What governance changes were made by First Horizon related to ESG?

ESG oversight was assigned to the Nominating and Corporate Governance Committee.

What is First Horizon's total asset value as of March 31, 2022?

First Horizon has $88.7 billion in assets as of March 31, 2022.

How has First Horizon addressed Diversity, Equity, and Inclusion?

First Horizon expanded its DEI team and launched an enterprise-wide DEI Council.