KeyCorp Issues 2022 Environmental, Social, and Governance Report

Rhea-AI Summary

KeyCorp has published its 2022 Environmental, Social, and Governance (ESG) Report, showcasing its commitment to helping clients, colleagues, and communities thrive. The report highlights achievements in four key areas: climate stewardship, financial inclusion, diversity, equity, and inclusion, and data privacy and security.

In 2022, Key deployed $5 billion to support a low carbon economy and invested over $6 billion in affordable housing and small business lending. The company also made significant strides in enhancing diversity, increasing representation of people of color in senior leadership by 36% within 18 months. Additionally, it reinforced data safeguards to protect client information. These efforts underline KeyCorp's dedication to responsible corporate citizenship and creating shared value.

Positive

• Deployed $5 billion for a low carbon economy in 2022.
• Invested over $6 billion in affordable housing and small business lending.
• Increased representation of people of color in senior leadership by 36% in 18 months.
• Recognized for Supplier Diversity Program and named in DiversityInc's Top 50 Companies for Diversity.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / April 18, 2023 / KeyBank:

Highlighting its purpose to help clients, colleagues, and communities thrive, KeyCorp has released its 2022 Environmental, Social, and Governance (ESG) Report. The report includes updates on Key's sustained progress against each of the company's ESG priorities: climate stewardship; financial inclusion; diversity, equity, and inclusion; and, data privacy and security.

KeyCorp's 2022 ESG report can be found here.

"I am proud of the notable progress and advancements we made in support of our ESG priorities in 2022," said Chris Gorman, KeyCorp's Chairman and CEO. "Responsible corporate citizenship is foundational to who we are, how we do business, and how we deliver value to all of our stakeholders: our clients, our teammates, our communities, and our shareholders.

KeyCorp's 2022 report details progress on the company's ESG priorities:

Climate Stewardship: Key is taking action on climate stewardship. This includes deploying $5 billion of new capital in 2022 to support a low carbon economy as well as making measurable progress against company emission reduction and carbon neutral operations pledges.

Financial Inclusion: In 2022, Key invested more than $6 billion to support low- and moderate-income neighbors and neighborhoods through: affordable housing projects; mortgages; small business lending; and, transformational philanthropy.

Diversity, Equity, and Inclusion: KeyCorp made significant progress on its 10-year commitment to increase representation of people of color in senior leadership by 50%, increasing representation by 36% in the first 18 months of this commitment. Key was also recognized as one of the Best of the best for its Supplier Diversity Program and was named to DiversityInc's Top 50 Companies for Diversity for the 13th time.

Data, Privacy, and Security: Keeping the personal and financial information of clients and teammates protected and secure is one of Key's highest priorities. In 2022, Key strengthened data safeguards and controls from enhancing fraud detection capabilities to improving customer service in case management and dispute resolution.

"As we move forward, we'll continue our focus on creating shared value. From investing in communities to reducing our own carbon footprint to deploying a workforce representative of the communities we serve - our business model and strategy lifts neighbors and neighborhoods by providing financial advice, expertise, and capabilities to the clients we serve," said Eric Fiala, Head Of Corporate Responsibility and Community Relations, KeyCorp.

About KeyBank

KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $190 billion at December 31, 2022. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com. KeyBank Member FDIC.

View additional multimedia and more ESG storytelling from KeyBank on 3blmedia.com.

Contact Info:

Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: info@3blmedia.com

SOURCE: KeyBank

View source version on accesswire.com:
https://www.accesswire.com/749807/KeyCorp-Issues-2022-Environmental-Social-and-Governance-Report

FAQ

What are the key highlights of KeyCorp's 2022 ESG Report?

The report highlights $5 billion deployed for climate stewardship, over $6 billion for financial inclusion, and a 36% increase in diversity within senior leadership.

When was KeyCorp's 2022 ESG Report released?

The report was released on April 18, 2023.

How much did KeyCorp invest in financial inclusion in 2022?

KeyCorp invested over $6 billion in financial inclusion initiatives in 2022.

What efforts did KeyCorp make towards climate stewardship in 2022?

KeyCorp deployed $5 billion to support a low carbon economy as part of its climate stewardship efforts.

What recognition did KeyCorp receive for diversity in 2022?

KeyCorp was recognized in DiversityInc's Top 50 Companies for Diversity and for its Supplier Diversity Program.