American Express announced the release of its first Environmental, Social, and Governance (ESG) report, which outlines the company’s approach to responsibly back its colleagues, customers and communities. The report is an evolution of American Express’ Corporate Social Responsibility report and includes updated and enhanced disclosures on a number of key topics, such as the diversity of the company’s workforce, its efforts to support its various stakeholders through the COVID-19 pandemic, continued progress toward its environmental sustainability goals and philanthropic initiatives.
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“At American Express, we believe the fundamental purpose of a corporation is to serve the needs of society and that backing our colleagues, customers and communities so they can thrive is critical to our success”
“At American Express, we believe the fundamental purpose of a corporation is to serve the needs of society and that backing our colleagues, customers and communities so they can thrive is critical to our success,” said Stephen J. Squeri, Chairman and Chief Executive Officer. “These beliefs have been our North Star for 170 years and through many challenging times, and they continue to guide us today in the face of the current global health crisis. Moving forward, we remain committed to implementing strong ESG policies and practices and delivering on our refreshed priorities detailed in our ESG report.”
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The report’s publication follows an analysis of opportunities and risks as it relates to American Express’ ESG strategy to better understand the expectations of internal and external stakeholders, including shareholders, customers, colleagues, business partners, regulators, suppliers, community organizations and others. Based on these valuable insights, the company developed a refreshed ESG framework and set of priorities that will drive its strategy moving forward. To further facilitate the execution of its ESG priorities, the company established a new ESG Steering Committee, comprised of senior leaders from across the business, which will be responsible for driving the development of new ESG goals and metrics.
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