Posted 3 hours ago
Submitted by the regional bank
BIRMINGHAM, Alabama, July 6, 2022 /CSRwire/ — Regions Financial Corp. (NYSE:RF) on Thursday announced the release of its 2021 Annual Valuation and ESG Report and Task Force on Climate Change Financial Disclosure (TCFD) Report 2021. Together, these two disclosures are intended to provide stakeholders in the regions with a comprehensive view of the company’s financial performance, along with its customer service, commitment to employee well-being, support for the communities in which the regions do business, and adherence to strong governance principles and advances in this area. ongoing efforts towards environmental sustainability.
“The 2021 ESG Annual Report and 2021 TCFD Report reflect important milestones in fulfilling Regions’ mission to improve the lives of our customers, employees, communities and shareholders,” said John Turner, President and CEO of Regions Financial corp We are proud to share our progress and ongoing priorities in the key areas of customer and community support, prudent and effective management, and environmental sustainability. In addition, these reports illustrate key elements of our strong corporate culture, including sound risk management; promoting greater diversity, equality and inclusion; promoting associated well-being; Promote education and development and prioritize business ethics.”
The 2021 ESG Annual Report, entitled Strong Foundation, brings together details of the bank’s financial performance and ESG performance in one document. This latest version also includes the release of the SASB (Regions’ Sustainability Accounting Standards Board), the 2021 Global Reporting Initiative (GRI) Index and the 2021 Demographic Workforce Index (EEO-1). Previously, this information was published separately; With the consolidation of these disclosures along with the latest version of the TCFD, most of the ESG region disclosures will be published concurrently.
Highlights of the 2021 annual ESG assessment and report include:
- The store: The report provides an overview of the regions’ solid performance in 2021, including the acquisitions of EnerBank, Sabal Capital Partners, LLC and Clearsight Advisors, Inc., as well as the regions’ focus on growing banking through investments in technology and digital skills simplify .
- Management: Regions’ values-based management strives to ensure that its businesses are conducted in accordance with the highest ethical standards, from the company’s board of directors to employees, suppliers and vendors. The 2021 report announces improvements to ESG governance, including the establishment of the ESG Leadership Council, a cross-functional decision-making body reporting to the Regions Executive Leadership Team.
- Planet: The regions’ environmental strategy is explained, including updates on Scope 1 and Scope 2 greenhouse gas emissions performance and how the company measures and assesses Scope 3 portfolio emissions, which are emissions from plant activities that the regions do not own or control. Regions are actively working to identify climate-related opportunities. This includes supporting clients by providing them with sustainable investment and financing opportunities related to their transition to a more sustainable future.
- Persons: The report tracks the performance of the regions in relation to peers, customers and communities. Highlights include the Regions Bank and Regions Foundation’s commitment to areas such as diversity, equity and inclusion; human rights; supplier diversity; employee involvement; Community support and talent recruitment and development.
- Prosperity: The report details the regions’ product and service offerings that address a wide range of customers and prospects and their changing needs, as well as new and updated financial wellness programs and significant community investments.
The TCFD Regions 2021 report shows progress towards the bank’s climate strategy, which is built on three pillars: helping the regions’ clients make the transition to a low-carbon economy, reducing the environmental footprint of operations and managing climate-related risks.
Highlights of the 2021 TCFD report include:
- Customer service: Regional bankers continue to offer innovative sustainable finance products to support clean energy solutions for customers, such as B. EnerBank’s point-of-sale financing for energy-efficient home improvement projects.
- Ecological Footprint: The Bank met its 2023 energy consumption target early (in 2021) and continues to monitor performance to ensure ongoing reductions. Progress has also been made on the new Scope 1 and Scope 2 gross greenhouse gas emissions targets, updated in last year’s TCFD report, to reduce emissions by 50% by 2030 compared to the 2019 baseline. Regions continue to implement new and innovative energy efficient approaches in existing and new facilities to help achieve this goal.
- Management of climate-related risks: The regions continue to advance their environmental and risk efforts in executing climate-related initiatives, including developing new analytics capabilities to improve the bank’s assessment of transient and physical risks across its portfolio. Improvements in geospatial analysis allow for more accurate analysis of sea level rise and help assess potential risks to the region’s facilities and their customers.
“We know that our stakeholders are increasingly interested in regions’ ESG priorities, and we continually look at ways to improve the timing and content of our ESG disclosures to provide this information,” said Andrew Nix, Senior Director for the regions. “With the broad overview that our annual ESG report and report offers, including our SASB disclosure, the GRI Index and the Workforce Demographic Index, and the deeper insight into the climate that our TCFD report offers, this one offers coordinated report provides a holistic view of the work we are doing to advance our ESG priorities for all our stakeholders.”
About the Regions Foundation
Based in Alabama, Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation participates in a grant program focused on priorities including economic and community development; willingness to learn and work; and financial health. The Foundation is a 501(c)(3) not-for-profit corporation funded primarily by contributions from Regions Bank.
About Regions Financial Corporation
With $164 billion in assets, Regions Financial Corporation (NYSE:RF) is a member of the S&P 500 and one of the largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers in the South, Midwest and Texas and, through its subsidiary Regions Bank, operates approximately 1,300 bank branches and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and a member of the FDIC. For more information about regions and their full range of products and services, visit www.regions.com.
Forward-Looking Statements
This statement may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which reflect the regions’ current views with respect to future events and financial performance. The words “future”, “anticipate”, “anticipate”, “intend”, “plan”, “aim”, “believe”, “predict”, “potential”, “goal”, “estimate”, “expect”, “Goals”, “projects”, “outlook”, “forecast”, “would”, “will”, “may”, “may”, “could”, “should”, “may” and similar expressions often mean “forward”. “ – looking statements. Forward-looking statements are not based on historical information, but rather relate to future operations, strategy, financial results or other developments. Forward-looking statements are based on management’s expectations, as well as certain of management’s assumptions and estimates and information available to management at the time the statements are made, and are subject to various known and unknown risks, uncertainties and other factors that could cause actual results to differ differ materially from the views, beliefs and projections expressed in such statements. Factors that could cause actual results to differ from those described in the forward-looking statements include risks discussed in the regions’ annual report on Form 10-K for the year ended December 31, 2021 and in subsequent filings with the Securities and Exchange Commission have been identified. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Regions undertakes no obligation to update or revise any forward-looking statements made from time to time.
Bank of Regions
Bank of Regions
With $147 billion in assets, Regions Financial Corporation (NYSE:RF) is a member of the S&P 500 and one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers in the South, Midwest and Texas and, through its subsidiary Regions Bank, operates more than 1,300 bank branches and 2,000 ATMs. Regions Bank is a home equity lender and a member of the FDIC. For more information about regions and their full range of products and services, visit www.regions.com.
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