U.S. Bancorp shares Task Force on Climate-Related Financial Disclosures Report

2023 report provides updates on climate-related activities

U.S. Bancorp today released its 2023 Task Force on Climate-Related Financial Disclosures (TCFD) Report, which shares the progress the company has made managing climate risk and driving sustainable growth through risk management practices and commercial strategy. This is the company’s third TCFD Report following its decision to align climate-related disclosures with the TCFD recommendations.

Covering governance, strategy, risk management, and metrics and targets, the report offers a closer look at how U.S. Bancorp is further developing its climate strategy and focusing on three areas of work to support the strategy. That includes reducing the bank’s environmental footprint; identifying and managing climate-related risks; and supporting a balanced transition to a net zero economy through client engagement and sustainable finance.

“We strive to be a responsible steward of the environment, and we believe continually enhancing our ability to manage our business in an environmentally sustainable manner is integral to our long-term success,” said Reba Dominski, senior executive vice president and chief social responsibility officer at U.S. Bank.

The company’s climate-related goals include achieving net zero greenhouse gas emissions by 2050, sourcing 100% renewable electricity in U.S. Bancorp operations by 2025, and setting an environmental finance goal of $50 billion by 2030.

Visit 2023 TCFD Report to access the full report.