American Express (NYSE: AXP) today announced the release of its first Environmental, Social and Governance (ESG) report, which outlines the company’s approach to responsibly back its colleagues, customers and communities. The report is an evolution of American Express’ Corporate Social Responsibility report and includes updated and enhanced disclosures on a number of key topics, such as the diversity of the company’s workforce, its efforts to support its various stakeholders through the COVID-19 pandemic, continued progress toward its environmental sustainability goals and philanthropic initiatives.
“At American Express, we believe the fundamental purpose of a corporation is to serve the needs of society and that backing our colleagues, customers and communities so they can thrive is critical to our success,” said Stephen J. Squeri, Chairman and Chief Executive Officer. “These beliefs have been our North Star for 170 years and through many challenging times, and they continue to guide us today in the face of the current global health crisis. Moving forward, we remain committed to implementing strong ESG policies and practices and delivering on our refreshed priorities detailed in our ESG report.”
The report’s publication follows an analysis of opportunities and risks as it relates to American Express’ ESG strategy to better understand the expectations of internal and external stakeholders, including shareholders, customers, colleagues, business partners, regulators, suppliers, community organizations and others. Based on these valuable insights, the company developed a refreshed ESG framework and set of priorities that will drive its strategy moving forward. To further facilitate the execution of its ESG priorities, the company established a new ESG Steering Committee, comprised of senior leaders from across the business, which will be responsible for driving the development of new ESG goals and metrics.
Report highlights include:
BACKING OUR COLLEAGUES
American Express is committed to delivering a great colleague experience, growing the best talent and developing new ways of working to unlock enterprise value. The company’s focus includes:
BACKING OUR CUSTOMERS
American Express has taken a number of steps to help its customers – including consumers, small businesses, corporate clients and merchants – navigate the financial disruptions caused by the COVID-19 pandemic, such as:
BACKING OUR COMMUNITIES
The ESG report outlines how American Express is working to help address the most pressing societal issues in the communities it serves around the world. Throughout 2019 and to date this year, the company has leveraged its philanthropic and civic engagement initiatives to further empower the people and organizations on the front lines addressing society’s most complex challenges, including:
American Express’ ESG report responds to the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD) reporting guidelines. To learn more about American Express’ approach to corporate responsibility and ESG, visit https://about.americanexpress.com/corporate-responsibility/default.aspx.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products, services and corporate responsibility information: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, Accertify, InAuth, corporate card, business travel, and corporate responsibility.
Source: American Express Company