BIRMINGHAM, Ala. – Nov. 20, 2018 – Regions Financial Corporation today announced the adoption of its Environmental Sustainability Policy Statement and Environmental Sustainability Goals, formalizing and building upon the company’s ongoing efforts to manage its operations effectively and responsibly.
“Being good stewards of our resources, including natural resources, benefits the communities where we live and work and is simply good business,” said Brett Couch, head of Corporate Real Estate and Procurement. “Since 2008, we have reduced our electricity use across the company by 35 percent, and we are challenging ourselves to do more. Regions is adopting smart technology, employing green building techniques, and taking practical steps to conserve energy and reduce waste. We are also engaging our associates and customers as we strengthen our commitment to operating in an environmentally sustainable manner.”
In conjunction with the policy statement, Regions has established Environmental Sustainability Goals for reducing the company’s own operational greenhouse gas emissions and energy use over an eight-year period. Using 2015 as the base year, Regions has set goals to achieve a 30 percent reduction in both greenhouse gas emissions and energy use by 2023.
“Regions’ focus on environmental sustainability is consistent with the company’s mission to create shared value for customers, associates, communities and shareholders,” added Hope Mehlman, Chief Governance Officer. “We understand that corporations have a unique opportunity to accelerate positive change, and our newly established policy statement and goals are important components of our overarching environmental, social and governance efforts.”
The Nominating and Corporate Governance Committee of Regions’ Board of Directors has oversight for the company’s environmental, social and governance efforts, including the policy statement and goals.
A document outlining the policy statement, goals and related environmental performance metrics, is available on the company’s website. The policy statement and goals were developed in consideration of Regions’ ongoing initiatives:
- The Regions corporate headquarters in Birmingham, Ala., has been ENERGY STAR certified since 2012, and in 2018, Regions initiated a program to bring additional facilities into ENERGY STAR certification.
- Regions constructs and renovates buildings using best practices for energy and water efficiency, including high-efficiency lighting, windows and mechanical systems, along with lighting and HVAC controls, low-flow toilets and small water heaters.
- Regions is increasing landfill diversion rates. In 2017, the company recycled 11.4 million pounds of paper and other materials and reduced internal paper use by 25 percent since 2014.
- Regions supports the development and implementation of clean energy solutions for Corporate Banking clients. Since 2015, Regions has provided capital in the form of sale-leasebacks to leading developers of utility scale photovoltaic (PV) solar projects across the U.S. In 2017, Regions provided $347 million in funding for 17 individual PV solar projects. Overall generating capacity from these solar projects exceeded 125 megawatts – an amount sufficient to power over 20,000 homes.
- Regions’ Natural Resources and Real Estate group within Regions Wealth Management brings a commitment to sustainability and forestry best practices to clients needing land and timber management services. Relying on a staff of natural resource professionals and registered foresters, Regions is responsible for the sustainable management of more than 1 million acres of timberland and adheres to all applicable State Best Management Practices for Forestry developed to improve water quality, carbon sequestration and wildlife habitat.
More information about Regions’ environmental sustainability efforts is available in the company’s 2017 Sustainability Report.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $125 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.