Score places Huntington in top quartile of Financial Services Activity Group and reflects Huntington’s focus on ESG, key climate and environmental related efforts and initiatives
Huntington Bank achieved an A- in CDP’s climate change rating, placing it in the top quartile of CDP’s Financial Services Activity Group. The score recognizes Huntington as one of a small number of high-performing companies out of over 13,000 that are leading actions to mitigate climate risks, reduce emissions and transition to a low-carbon economy. Huntington’s improvement from last year’s B rating illustrates the company’s increased focus on Environmental, Social and Governance (ESG), key climate and environmental related efforts and initiatives.
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CPD is a non-profit charity, formerly known as the Carbon Disclosure Project, that runs a global disclosure system to score companies and cities on the level of environmental management. CDP’s annual climate disclosure and scoring process, from a scale from A to D-, is widely recognized as the gold standard of corporate environmental transparency.
“Addressing the climate crisis requires action from all levels of society and the economy, and banks have a vital role to play,” said Simon Fischweicher, head of corporations and supply chains for CDP North America. “We congratulate Huntington for its achievement of moving from a B to an A- this year, proving that a company committed to climate action can improve its environmental awareness and quickly pivot its business strategy to do its part in limiting dangerous global warming.”
Huntington acknowledges that climate change is a serious issue and is committed to doing more to accelerate meaningful progress by reducing its carbon footprint and providing guidance to clients as they transition to a low-carbon economy. Additional commitments and accomplishments include:
- Reduced greenhouse gas emissions by 35% since 2017 benchmark.
- Established a renewable energy goal to shift 50% of its electricity usage to renewable sources by 2035.
- Implemented 284 environmental sustainability projects.
- Achieved 75 new ENERGY STAR certifications.
- Provided comprehensive, customized solutions for businesses innovating in the green technology market.
- Announced Climate Risk Director and Environmental Strategy & Sustainability Director
- Established climate risk governance and reporting structure, including the formation of a Climate Risk Management Working Group.
“As a growing bank dedicated to supporting people, businesses and communities throughout our expanded footprint, we recognize the responsibility we have to work together to address the challenges of climate change,” said Steve Steinour, chairman, president and CEO. “In reviewing our own environmental performance, we see an opportunity to be a catalyst to build a more sustainable world. We’re confident our enhanced strategy and transparent reporting will create long-term value for our stakeholders.”
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Led by its purpose to make people’s lives better, help businesses thrive and strengthen the communities it serves, Huntington is investing in its communities to address the environmental challenges faced by under-resourced communities. The bank recently announced a new $40 billion Strategic Community Plan, which includes programs intended to address environmental and racial equity challenges and to help make customers more financially secure in the future
Huntington’s approach to environmental sustainability is guided by its Environmental Policy Statement, which outlines the bank’s pledge to protect the environment, address climate change and manage environmental risks.
Huntington is committed to a strong ESG program. Earlier this year, Huntington issued its fifth ESG report, along with first-time reporting to the Sustainability Accounting Standards Board (SASB) standards for Commercial Banks and Consumer Finance, and second annual reporting to the Task Force on Climate-related Financial Disclosures (TCFD) framework.
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