Corporate Responsibility

 

Corporate Responsibility

For detailed information on Key’s corporate responsibility efforts, we encourage you to read our recent Environmental, Social, and Governance Reports.

2021 Environmental, Social, and Governance Report Key’s annual Environmental, Social, and Governance (ESG) Report describes performance and activities related to the sustainability and societal impact of our business and investments. It is a companion piece to our Annual Report to shareholders, providing our stakeholders with an update on the company’s priorities and progress as both a responsible bank and citizen.

The data reported in the 2021 ESG Report covers the period between January 1 and December 31, 2021. In instances where programs or initiatives were enhanced or introduced in the first quarter of 2022, the narrative description reflects those changes. In this document, Key reports on the ESG and corporate responsibility (CR) progress of KeyCorp, including KeyCorp’s subsidiary bank, KeyBank National Association.

ESG 2021 Highlights The 2021 ESG Report details for the first time, Key’s new multi-year commitments around climate stewardship, including:

  • Sustainable finance: Key will finance or facilitate $38 billion to address climate change and support green initiatives by year-end 2026.
  • Carbon neutral operations: Achieve carbon neutral operations across Key’s scope 1 direct emissions and scope 2 indirect emissions by year-end 2030.
  • Financed emissions: Key will join the Partnership for Carbon Accounting Financials and complete the necessary measurement and evaluation of scope 3 financed emissions

The ESG Report also highlights Key’s focus on social responsibility in 2021. This includes investing $6.9 billion into the communities it proudly serves through the National Community Benefits Plan. Key surpassed its aggregate commitment of $16.5 billion under the plan and has invested more than $26 billion over the past five years in affordable housing, mortgages and small businesses in low- and moderate-income communities, and transformational philanthropy.

Environmental Key is committed to expanding our strong legacy of climate stewardship – taking bold actions to reduce greenhouse gas emissions, become carbon neutral in our operations, and support environmental equity. Our responsible business practices and investments are making a measurable impact on reducing our environmental footprint and building more sustainable communities. We aim to deepen our impact by activating those around us, encouraging teammates, suppliers, and other stakeholders to practice more sustainable behaviors. We monitor risks related to climate change and are in the process of adapting our operational practices to reduce our environmental footprint.

Social Responsibility Key is committed to fostering diversity, equity, and inclusion throughout the entire enterprise – from the teammates we hire and the clients we serve, to the suppliers we use and the communities that welcome us. Our employees are engaged with and committed to our mission of helping our clients and communities thrive. We are more focused than ever on participating in the economic expansion, revitalization, and resurgence of the communities we so proudly serve, as well as strengthening the financial wellness of our clients.

Governance Accountability, integrity, leadership, respect, and teamwork are core values at Key, driving our daily actions and decisions. We hold ourselves – and the third-party suppliers with whom we work – to high standards of corporate governance and ethical business practices. Our culture of continuous improvement and strong risk management are strategic priorities. We continuously invest in new tools, technology, and processes that enable us to better manage the changing risk environment, from data security to anti-money laundering to evolving regulations.

Awards and Recognitions The awards and recognitions Key receives are clear testament to our purpose and focus on responsible banking, responsible citizenship, and responsible operations. KeyBank received its tenth consecutive “Outstanding” rating for lending under the Community Reinvestment Act. We were recognized for the eight consecutive time as one of America’s 50 most community-minded companies by The Civic 50, and were named for the twelfth time as one of DiversityInc’s Top 50 Companies for Diversity. Learn more about KeyBank’s Awards and Recognitions. Learn more about KeyBank’s Awards and Recognitions.