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KeyCorp’s 2022 ESG Report Highlights Climate Stewardship

KeyCorp’s 2022 ESG Report Highlights Climate Stewardship

Published 05-01-23

Submitted by KeyBank

Solar panel array and windmills.

Originally published in Key’s 2022 Environmental, Social, and Governance report

With each wildfire, flood, and extreme storm, it is increasingly clear that our planet is under stress. Given the devastating impacts related to climate change, investors, clients, regulators, public officials, and employees expect the financial services industry to drive climate action.

Key is committed to leveraging our expertise, relationships, market influence, and resources to help address the pressing challenge of climate change. For this reason, we expanded our climate commitments to further minimize the environmental impact of our operations, provide more solutions to our clients, and support environmental equity.

As we continue to build internal knowledge and awareness of climate risks and opportunities, we are taking action. We are pleased to share our progress toward the environmental targets we announced in April 2022:

  • To date, Key has financed or facilitated $5 billion toward our $38 billion sustainable finance commitment to address climate change and support green initiatives by year-end 2026. 
  • Notably, we have reached 36% of our goal to achieve carbon neutral operations across our scope 1 direct emissions and scope 2 indirect emissions1, by year-end 2030. 
  • Joined the Partnership for Carbon Accounting Financials (PCAF) and completed an initial assessment of financed emissions.

To learn more about Key’s ESG efforts, read the 2022 Environmental, Social, and Governance Report here.

1Refer to The Greenhouse Gas Protocol for scope definitions.

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KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $176.2 billion at March 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit KeyBank is Member FDIC. 

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