July 8 - Comerica Incorporated has announced the release of its 2013 Sustainability Progress Report on comerica.com. The online report, which updates progress made in several key sustainability areas of focus, highlights Comerica's achievement of its first greenhouse gas (GHG) emissions reduction goal.
"In 2009, we set a goal to reduce our legacy Comerica real-estate related GHG emissions by 15 percent at the end of 2014, compared to our 2008 baseline," said J. Scott Beckerman, senior vice president and Chief Sustainability Officer for Comerica. "We are delighted to report that as of the end of 2013, we have reduced those emissions by 18.9 percent. Exceeding our goal and doing so a full year ahead of schedule is a reflection of the incredible efforts of our colleagues across the bank."
In addition to progress on environmental performance, the report provides updates on Comerica's supplier engagement on sustainability, employee sustainability involvement, and profiles several successful sustainability initiatives, as well as focusing on the social aspects of sustainability, including diversity and community.
"Whether we are helping the community prevent identity theft at our shred days, volunteering in our host communities, or supporting diversity in our supply chain, Comerica colleagues are embracing all aspects of what it means to be a company that has made sustainability a priority," said Kristin Bloser, Comerica's senior sustainability officer.
Comerica's latest sustainability report also provides an assessment of priorities and challenges for 2014.
"As with any journey, there are bound to be obstacles and we've highlighted those in our report as well," said Beckerman. "With sustainability, there is always progress to be made and new challenges to address. We look forward to setting new goals around further limiting GHG emissions and achieving additional resource use reductions. By integrating sustainability into our business, we not only serve the best interests of people and the planet, but also enhance our company's business performance. Doing so enables us to create long-term value for our various stakeholders, while raising the expectations of what a bank can be."
Comerica was recently ranked as highest scoring U.S. company in the banking sector in Newsweek's 2014 Green Rankings. The Newsweek ranking continues Comerica's positive recognition for its sustainability performance and leadership. In 2013, Comerica achieved a position in the Carbon Disclosure Project (CDP) Performance Leadership Index, recognizing its ongoing progress in reducing emissions and reducing resource consumption. In addition to an ongoing listing on the FTSE4Good Index, Comerica was included in the Thomson Reuters Corporate Responsibility Indices in both the Environmental and Governance categories. Regarding ongoing efforts to green the supply chain, Comerica was recognized by Office Depot with its Leadership in Greener Purchasing award for the second time in three years. Comerica was also the only U.S. bank to be listed as a 2014 Natural Capital Efficiency Leader in GreenBiz's Natural Capital Leaders Index.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $65.7 billion at March 31, 2014.