KeyCorp’s 2022 ESG Report Highlights Climate Stewardship

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04/28/2023 - 09:15 AM

Originally published in Key's 2022 Environmental, Social, and Governance report

NORTHAMPTON, MA / ACCESSWIRE / April 28, 2023 / With each wildfire, flood, and extreme storm, it is increasingly clear that our planet is under stress. Given the devastating impacts related to climate change, investors, clients, regulators, public officials, and employees expect the financial services industry to drive climate action.

Key is committed to leveraging our expertise, relationships, market influence, and resources to help address the pressing challenge of climate change. For this reason, we expanded our climate commitments to further minimize the environmental impact of our operations, provide more solutions to our clients, and support environmental equity.

As we continue to build internal knowledge and awareness of climate risks and opportunities, we are taking action. We are pleased to share our progress toward the environmental targets we announced in April 2022:

To date, Key has financed or facilitated $5 billion toward our $38 billion sustainable finance commitment to address climate change and support green initiatives by year-end 2026.
Notably, we have reached 36% of our goal to achieve carbon neutral operations across our scope 1 direct emissions and scope 2 indirect emissions¹, by year-end 2030.
Joined the Partnership for Carbon Accounting Financials (PCAF) and completed an initial assessment of financed emissions.

To learn more about Key's ESG efforts, read the 2022 Environmental, Social, and Governance Report here.

¹Refer to The Greenhouse Gas Protocol for scope definitions.