Comerica Recognized As Global Sustainability Leader For Third Consecutive Year
"We are proud to receive the recognition from Corporate Knights and honored to be considered a global leader on sustainability," said Curt Farmer, Chairman and CEO, Comerica Incorporated and Comerica Bank.
DALLAS, Feb. 2, 2021 /PRNewswire/ -- For the third consecutive year, Comerica Incorporated (NYSE: CMA) earned a place on the 2021 Global 100 list of the most sustainable corporations by Corporate Knights. Comerica is one of 20 companies headquartered in the United States on the list and the only U.S. bank represented with a ranking of 52nd.
The Global 100 list is the result of a rigorous analysis of nearly 7,500 companies across the world with more than $1 billion in annual revenue. Companies are evaluated on 24 key performance indicators that include resource management, employee management, financial management and supplier performance. This year's ranking was also based on several new performance indicators that reflect social concerns highlighted by the pandemic and racial justice movement. They include paid sick leave, executive and board racial diversity, and clean revenue and investments.
"We are proud to receive the recognition from Corporate Knights and honored to be considered a global leader on sustainability," said Curt Farmer, Chairman and CEO, Comerica Incorporated and Comerica Bank. "We've discovered as we navigate through the COVID-19 pandemic and continue to push for racial justice and equity, our commitment to the environment, social and governance (ESG) issues has been a force of stability and resilience."
Despite the challenges presented in 2020 by the COVID-19 pandemic, Comerica continued to make strides in reaching its sustainability goals. Its GHG reduction efforts reached nearly 52 percent through the third quarter, putting it in preliminary achievement of its 2025 GHG reduction goal of 50 percent. And at year-end, the organization had more than $1.2 billion in green loans and commitments to customers in 13 different environmentally beneficial categories.
Inclusion on the 2021 Global 100 Most Sustainable Corporations by Corporate Knights is the latest in a string of recognitions the organization has received in recent months for its sustainability initiatives. In December, Comerica ranked 51st on Newsweek's list of America's Most Responsible Companies for 2021 and recently CDP awarded Comerica with an A- rating on its climate change questionnaire.
Comerica has also served as a leader in the field of diversity, equity and inclusion as it ranked third on the DiversityInc 2020 list of Top Regional Companies for Diversity. And most recently, it secured a 100 percent on the 2021 Corporate Equality Index (CEI) related to LGBTQ workplace equality for the eighth consecutive year.
"The Global 100 has demonstrated companies committed to ESG topics are more likely to deliver superior financial performance," said Scott Beckerman, Comerica Bank Director of Corporate Sustainability. "We believe in the importance of ESG issues and remain dedicated to leadership amongst our peers, demonstrating to our stakeholders the value of a triple-bottom-line approach to business."
For the complete 2021 Global 100 Most Sustainable Corporations by Corporate Knights, visit www.corporateknights.com/global100.
About Comerica:
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial 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.
About Corporate Knights & the Global 100 Most Sustainable Corporations in the World:
Corporate Knights Inc. includes the sustainable business magazine Corporate Knights and a research division that produces rankings and financial produce ratings based on corporate sustainability performance. The Global 100 is an annual project initiated by Corporate Knights, the company for clean capitalism. Launched in 2005, the Global 100 is announced annually on the sidelines of the World Economic Forum in Davos.
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SOURCE Comerica Incorporated
