American Express Company

RATING

SECTOR

Financial Services

WEBSITE

CONTACT

American Express Company
200 Vesey Street
New York, NY 10285-3106

STOCK EXCHANGE

LISTING

  • CDP  A List
  • AA MSCI (ESG) Rating
  • Inclusion in FTSE4Good Index Series
  • 100% score on the Human Rights Campaign’s Corporate Equality Index since 2004
  • Named to Bloomberg’s Gender-Equality Index since its inception in 2016
  • Named one of Fortune’s Best Workplaces for Diversity in 2019

EMPLOYEES

64,500

CHIEF SUSTAINABILITY OFFICER

Myrian Coneim

AWARDS

N/A

CONTENT SOURCE

FURTHER READING

Report created by Maribel Sabino

American Express Company

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch  •  Overview

Company Activity

The American Express Company is an American multinational financial services corporation dedicated to providing customers with access to products, insights and experiences that enrich lives and build business success.

American Express Co. engages in the provision of charge and credit card products, and travel-related services.

It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services and Corporate & Other.

  • The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.
  • The Global Commercial Services segment provides proprietary corporate and small business cards, payment and expense management services, and commercial financing products.
  • The Global Merchant and Network Services segment operates a global payments network that processes and settles card transactions, acquires merchants, and provides multi-channel marketing programs and capabilities, services, and data analytics.
  • The Corporate & Other segment covers corporate functions and certain other businesses and operations.

Company Sustainability Activity

Climate change represents one of the greatest challenges facing the planet, and American Express is committed to supporting the transition to a low-carbon economy to meet the science-based recommendations of the Intergovernmental Panel on Climate Change (IPCC) as a way to combat climate change.

As a financial services company, the company’s primary environmental impacts and source of GHG emissions come from the operation of our internal data centers and office facilities, as well as colleague business travel and direct mail marketing activities.

American Express aims to minimize the effects our operations have on the physical environment and our climate. To reach this goal, American Express has a longstanding focus on increasing energy efficiency, promoting renewable energy, reducing greenhouse gas (GHG) emissions and investing in sustainable and safe workplaces.

In 2018, American Express became a CarbonNeutral company and began powering all operations with 100% renewable electricity through on-site solar, renewable energy credits, carbon offsets and reduced greenhouse gas (GHG) emissions.

In 2019, the company set new 2025 environmental goals focused on key operational issues including energy use, waste generation, water use, green building certifications, removing single-use plastics and sourcing paper responsibly.

Highlights

Remain carbon neutral 

  • Zero net carbon emissions for our operations since 2018
  • 100% renewable electricity has powered the company’s operations since 2018

Engage colleagues in sustainability

  • 115+ Earth Month activities were held for colleagues across more than 15 countries, including educational fairs, tree planting projects and coastal and river clean-ups

Commit to responsible sourcing

  • 100% of paper used in the company’s U.S. direct marketing efforts was certified from responsibly managed forests

Reduce waste and conserve water

  • Established baselines for tracking waste and water to support the company’s 2025 environmental goals

Targets

Energy & Emissions

  • Remain carbon neutral for American Express’ operations
  • Continue to power the operations with 100% renewable electricity
  • Reduce energy use by 35% across the managed facilities compared to 2011

Waste

  • Reduce waste generated from their managed facilities by 10% per colleague compared to 2019
  • Divert 60% of office waste generated from their managed facilities away from landfills
  • Achieve zero waste certification for American Express’ U.S. headquarters

Water

  • Reduce water use from our managed facilities by 10% per colleague compared to 2019

Sourcing

  • Eliminate single-use plastics across our operations
  • Source 100% of the company’s direct marketing, customer communications and office paper from certified sustainably managed forests

Green Building

  • Achieve Green Building certifications19 for 60% of their operations

Progress

Energy & Emissions

  •  Zero net GHG emissions

Waste

  • Established baseline of 135kg of waste per colleague
  • Implemented composting program
  • Removed single-use plastic cups.

Water

  • Established baseline of 4,367 gallons of water per colleague

Sourcing

  • Eliminated single-use plastic from all Centurion lounges
  • Eliminated single-use plastic straws and stirrers across our operations
  • Sourced 100% of our U.S. direct marketing paper from certified sustainably managed forests

Green Building

  • On track with goal

Certificates

UN Sustainable Development Goals

UN SDG Compliances

SDG 3

  • 100% of American Express’ colleagues had access to at least one Healthy Living program or service
  • 24 on-site Healthy Living Wellness Centers were available around the world

SDG 5

  • Commitment to pay equity
  • 20 weeks of gender-neutral paid parental leave for U.S.-based regular full-time and part-time salaried colleagues
  • Launched the Office of Enterprise Inclusion, Diversity and Business Engagement to expand upon our successful inclusion and diversity programs and create new initiatives to drive meaningful, long-term change
  • 23,000+ women entrepreneurs participated in the workshops hosted by the ChallengeHER initiative since 2013 to help boost government contracting opportunities for women-owned small businesses

SDG 8

  • Committed more than $200 million as part of our largest-ever global Shop Small campaign to support a Card Member offer and the associated marketing campaign to help jumpstart spending at small merchants
  • Pledged $10 million to support Black-owned small businesses over the next four years through a coalition that we built with the U.S. Chamber of Commerce Foundation that brings together four major Black Chambers: the National Black Chamber of Commerce, the National Business League, the U.S. Black Chambers, Inc. and Walker’s Legacy
  • 1,000+ professional and personal development opportunities offered through trainings and other programs

SDG 12

  • American Express has committed to responsible sourcing with 100% of paper used in their U.S. direct marketing efforts was certified from responsibly managed forests

SDG 13

  • American Express is remaining carbon neutral, having zero net carbon emissions for their operations since 2018
  • The company’s operation have been powered by 100% renewable energy since 2018

SDG 14

  • In 2019, American Express provided nearly $2 million in grants to the Ocean Conservancy and National Geographic Society to support their programs addressing marine plastic pollution

SDG 17

  • American Express has collaborations with Parley for the Oceans to address the issue of marine plastic pollution and remove single-use plastics from our operations, The New York Women’s Foundation,  Women Impacting Public Policy (WIPP), United Way Worldwide, and Center for Creative Leadership and the Stonewall Community Foundation to help reach their goals

Evaluation

American Express Company is dedicated to addressing the company’s environmental impacts and contribution to climate change. Their goals include minimizing the effects their operations have on the physical environment and our climate by focusing on increasing energy efficiency, promoting renewable energy, reducing greenhouse gas (GHG) emissions and investing in sustainable and safe workplaces.

American Express holds certificates and labels such as the CarbonNeutral certification, LEED, BREEAM, and HQE, as well as various listings. Despite not receiving any awards, American Express has clear targets that align with specific Sustainable Development Goals.

American Express has been given a rating of B.

Analyst Outlook: Neutral

American Express has set an environmental reporting and management system to measure, reduce and report on its environmental footprint.

Key Points

  • American Express’ ESG report responds to the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD) reporting guidelines
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