Comerica

RATING

SECTOR

Major Bank 

WEBSITE

CONTACT

1717 Main Street

Comerica Bank Tower MC 6578

Dallas, TX 75201

United States

Phone Number: +1 214-462-4000

Fax Number: 214-462-4010

STOCK EXCHANGE

LISTING

  • MSCI (Morgan Stanley Capital International) ESG
  • Dow Jones Sustainability Index (DJSI)
  • One of Barron’s 100 Most Sustainable Companies in the U.S.
  • Black Enterprise “50 Best Companies for Diversity”
  • 10th consecutive year on FTSE4Good Index and continued listing on Thomson Reuters Corporate Responsibility Indices

EMPLOYEES

8,051

CHIEF SUSTAINABILITY OFFICER

J. Scott Beckerman

AWARDS

  • Silver-level veteran-friendly employer by the Michigan Veterans Affairs Agency

CONTENT SOURCE

FURTHER READING

Comerica

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch  •  Overview

Company Activity

Comerica’s Business Bank provides companies of all sizes with an array of credit and non-credit financial products and services. The Retail Bank delivers personalized financial products and services to consumers. Wealth Management serves the needs of high net worth clients and institutions.

At 12/31/2018, Comerica had total assets of approximately $US 70.8 billion, total loans (net of unearned income) of approximately $US 50.2 billion, total deposits of approximately $US 55.6 billion, and 7,865 employees on a full-time equivalents (FTE) basis (source: Comerica’s 2018 Annual Report). In addition to Texas, Comerica Bank is also located in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. As of 12/31/2018, Comerica had 435 U.S. banking centres (193 in Michigan, 122 in Texas, 96 in California, 17 in Arizona, and 7 in Florida) and one banking centre in Canada. T

Comerica’s approximately 8,000 colleagues focus on relationships and helping people and businesses be successful. Comerica operates in seven of the 10 largest U.S. cities, with more than 430 banking centres in its primary markets of Texas, Arizona, California, Florida, and Michigan. Select businesses operate in several other states, as well as in Canada and Mexico. Comerica is among the 25 largest U.S. banking companies, with $71 billion in total assets reported at Sept. 30, 2018.

Company Sustainable Activity

According to the company: “We recognize that the prosperity and well-being of the people, businesses, and communities we serve today – as well as those we will serve tomorrow – depend on sustained access to:

  • Natural resources provided by a healthy environment
  • Social and human resources provided by healthy communities

Comerica is committed to:

  • Protecting and preserving the environment
  • Enhancing the human and social capital of the communities in which they do business

ENERGY MANAGEMENT :

In 2018, their key energy management initiatives include:

  • Energy efficiency projects designed to provide significant energy usage reductions, including their enterprise-wide Building Management System (BMS)/Smart Thermostat project and LED lighting upgrade project (See feature boxes on these projects for more details).
  • An in-depth energy audit performed at one of their largest facilities, which identified opportunities for improved energy efficiency (recommendations being reviewed for possible implementation in 2019 or 2020).
  • Expanding their collaborative CoWork office design to eleven buildings across the country, by adding four more locations in 2018. CoWork spaces have removed 347,992 square feet (-7.3 per cent) of occupied real estate space from 2017 and increased energy efficiency per employee, with more open space to allow air circulation, natural lighting, and zone HVAC controls.
  • Continuing company-wide Temperature Standards Policy whereby standards for set-point and set-back temperatures have been established and are monitored so Comerica maintains operational control overheating, ventilation and air conditioning (HVAC) systems. In 2018, they began an energy-focused review of all buildings with new BMS or Smart Thermostats to ensure settings are correct and sensors are operating properly.
  • Implementing the Mission Control team’s Comprehensive Management Plan to manage energy usage in their data centres. Through their regular monitoring of consumption patterns and trends following energy conservation measures being implemented, they can assess the environmental impacts of their investments.

ENVIRONMENTAL RESOURCES MANAGEMENT 

They are committed to managing resources wisely by minimizing operational waste. Comerica has three main solid waste streams: paper, electronics and general office. An intermittent waste stream consisting of excess furniture, office equipment and some construction-related materials is generated during office renovations or real estate rationalization (RaCC) projects, but they work to minimize waste from these intermittent streams through reuse and donations, such as those detailed in the overview of their CoWork program efforts in 2018.

WATER STEWARDSHIP

They track their water consumption at locations where they are responsible for water utility bills (their metered sites) by evaluating water bills for any anomalies in consumption or spend, which may indicate leaks or theft. This consumption data is then added to their energy management system, which they use to evaluate data trends quarterly. The trend data helps us understand weather-related impacts on their water consumption, impacts associated with water efficiency measures and impacts resulting from property leaks. In 2018, Comerica’s locations with metered water totalled more than 3.1 million square feet, representing 71 per cent of their total occupied square footage.

COMMUNITY 

The health of the communities they serve is vital to their growth and economic development in these communities is a central pillar of their mission. Their ongoing vision to assist entrepreneurs in starting and managing their businesses has been realized through initiatives, such as their MicroEnterprise Loan Funds, Technical Assistance Providers, CRA lending, affordable housing tax credit investments and new market tax credit programs. Additionally, they partner, volunteer with and donate to nonprofit organizations in the communities where they operate to maximize their positive impact.”

Certificates

  • LEED Buildings

Sustainable Development Goals

How company covers SDGs

N/A

Progress

TARGETS 2020 (2012 Baseline)

  • 20% reduction in GHGs → Goal achieved in 2016
  • 30% reduction in water consumption 
  • 20% reduction in waste to landfill → Goal achieved in 2015
  • 50% reduction in office copy paper usage 

HIGHLIGHTS 2018 (2012 Baseline)

  • 43.5% reduction in GHGs 
  • 27.6% reduction in water consumption 
  • 29.1% reduction in waste to landfill 
  • 48.5% reduction in office copy paper usage

Comerica, as a financial service company, is very dedicated to announcing their improvements towards their sustainability activity, and how they run it on their own (great management of their buildings for example with LEED Buildings). They have been clear and open about their contribution in various sectors, and the company took great initiatives towards climate change. They are therefore rated as a B.

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