Comerica's Latest Corporate Responsibility Report Demonstrates Progress on Environmental and Social Issues

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Aug 05, 2019, 15:46 ET

DALLAS, Aug. 5, 2019 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) recently released its 2018 Comerica Corporate Responsibility Report, which can be found at comerica.com/sustainability.

"Corporate responsibility is a fundamental part of Comerica's culture," Comerica President and CEO Curtis C. Farmer. "Our Corporate Responsibility Report provides insights on how we support a successful business climate, the environment and our communities, all of which combined put us on a path towards a thriving future."

This year's report is a comprehensive look at Comerica's environmental, social, and governance (ESG) performance. The report includes detailed reporting on Comerica's Impact Topics, those ESG issues most important to Comerica and our stakeholders. The current assessment of stakeholder priorities was supported through advanced data analytics and artificial intelligence combined with traditional individual interviews and surveys. This approach of technology-driven and stakeholder-verified priorities provides Comerica a confirmation of current expectations and a roadmap for future performance and disclosure.

"Our report goes far beyond the basic metrics on our Impact Topics and delves into the real-life stories that demonstrate how Comerica helps people and businesses thrive," said Senior Vice President and Director of Corporate Sustainability Scott Beckerman. "We also relate our progress to the United Nations 17 Sustainable Development Goals (SDGs) and support investor ESG interest by publishing extensive metrics, a GRI standards index and, for the first time, a Sustainability Accounting Standards Board (SASB) index."

While Comerica's footprint is important, its ability to impact social and environmental issues through customers and communities greatly expands the organization's network of positive impact. Accordingly, three key progress areas include reducing environmental impact, advancing diversity and inclusion and supporting our customers and communities.

Comerica's progress on real estate greenhouse gas (GHG) emissions accelerated in 2018 with an additional 20.5% reduction, bringing our emissions reductions since 2012 to 43.5%. The company met its 2020 goals for GHG emissions and reduction in waste sent to the landfill and remain on target to meet our remaining 2020 goals around water and paper use reductions.

Comerica's long-standing commitment to diversity and inclusion is demonstrated in this year's report with metrics such as 40% of Comerica colleagues representing racial or ethnic minorities and 66% of our workforce being comprised of women. Comerica has also seen a 54% increase in the number of colleagues who are military veterans in the last five years.

Comerica is dedicated to helping people and businesses be successful and we do that by supporting our customers and communities in which we live, work and play. Financial education plays a big role in that success, from our Money $ense program for youth education to delivering Comerica Insights to our customers. We also continued our highly acclaimed Women's Business Symposium events to combine authentic and engaging peer discussions with insights from world-class speakers and local business leaders.

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 $73 billion at June 30, 2019.

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SOURCE Comerica Incorporated