The sustainability nonprofit organization Ceres and Regions Financial Corporation (NYSE: RF) announced today that Regions has joined the Ceres Company Network.
As a new member of the Ceres Company Network, Regions joins approximately 50 companies, including dozens of Fortune 500 firms, committed to achieving sustainability goals and improving resiliency in their operations and supply chains. Through the Network, Regions will gain unique access to a breadth of external perspectives and Ceres’ guidance to advance the ongoing transition to a more sustainable, low-carbon economy.
"Regions has a long-standing commitment to building a sustainable business that benefits our customers, associates, shareholders, and the communities we serve, and partnering with Ceres will allow us to further that commitment," said John Turner, Regions' President and CEO. "Over the last few years we have taken significant steps to advance our sustainability practices and disclosures, and we look forward to working with Ceres and its members collectively to make a positive impact."
Regions has formally placed the authority for the oversight of environmental, social, and governance matters with its board of directors, with various responsibilities delegated to the Nominating and Corporate Governance Committee and the Compensation and Human Resources Committee. Last year, Regions adopted an Environmental Sustainability Policy Statement and Environmental Sustainability Goals, building upon the company’s ongoing efforts to manage its operations effectively and responsibly. Regions set the goals of achieving a 30 percent reduction in both greenhouse gas emissions and energy use by 2023, using a 2015 baseline. The company has already reduced its greenhouse gas emissions by more than 45 percent since 2008.
The company further invested in its capacity to provide financial support for community programs that create inclusive growth by contributing $100 million to the Regions Foundation. Regions is also investing in its associates and has recently enhanced its parental leave policy, increased the 401(k) company match and increased its entry-level wage to $15 an hour.
“Regions recognizes the importance of adopting corporate governance and sustainability best practices and that this is a pathway to creating significant shareholder value,” said Mindy Lubber, President and CEO of Ceres. “I am looking forward to working with them to further embed sustainability into their business strategy."
To join the Ceres Company Network, members must have executive-level, public-facing sustainability commitments. Learn more: https://www.ceres.org/networks/ceres-company-network.
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About Ceres
Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy. For more information, visit www.ceres.org and follow @CeresNews.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $126 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.