Being a responsible corporate citizen is part of our plan, and we sweat the details. With products and services that support green buildings, energy efficiency, high efficiency vehicles, and renewable energy, we’re helping create a more sustainable economy.
Building a Sustainable Community through Responsible Actions
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.
We are pleased to share our progress toward the environmental targets we announced in April 2022:
- To date, Key has financed or facilitated close to $10 billion toward our $38 billion sustainable finance commitment to address climate change and support green initiatives by year-end 2026.
- Notably, we have reached 48% of our goal to achieve carbon-neutral operations across our Scope 1 direct emissions and Scope 2 indirect emissions by year-end 2030.
- Joined the Partnership for Carbon Accounting Financials (PCAF) and completed an initial assessment of financed emissions.
Mobilizing capital to support our clients and communities
Key supports clients in their transition to a low-carbon economy through our market-leading position in renewable energy finance and a variety of other product offerings. Key expanded into new markets over the past decade, providing clients and customers with unique, renewable energy and environmental investment options or financing. How we invest is essential to supporting strong and resilient communities.
Key’s $38 billion sustainable finance commitment includes financing for business in the following industries:
- Battery storage and manufacturing
- Clean transportation
- Clean water
- Climate change resiliency and adaptation
- Climate risk management
- Conservation
- Energy efficiency
- Green buildings
- Green, social, sustainable bonds
- Pollution prevention and control
- Renewable energy
- Sustainable agriculture and forestry
Achieving operational sustainability
Key is focused on enhancing our operational sustainability. Reducing the environmental impact associated with our real estate footprint is an ongoing effort and maintaining and operating efficient workspaces remains a priority.
In April 2022, we amplified our ambitions and committed to achieving carbon neutrality from our Scope 1 direct and Scope 2 indirect emissions by 2030. While we strive for carbon neutrality, we recognize that reducing absolute emissions is critical for the planet; for this reason, we continue to monitor progress toward our previously announced Scope 1 and 2 emission reduction goals. Our ambition is to source 20% of our energy from renewable sources by 2030 and 60% by 2050 and reduce our Scope 1 and 2 emissions 40% by 2030 and 80% by 2050. Together, these goals will make sure that we not only achieve carbon neutrality, but also continue to reduce our overall emissions.
