Company plans to introduce new digital
solutions to help corporate clients better understand their carbon
footprint and expand the availability of its recycled plastic
cards
As part of its $10 million philanthropic
commitment toward climate action, the company is providing $2.25
million in grants to American Forests, National Park Foundation,
and Earthwatch Institute
American Express (NYSE: AXP) today announced plans to introduce
new digital solutions to enable corporate clients to better
understand and manage their carbon footprint, including digital
carbon tracking and offset solutions, and the expansion of its
recycled plastic cards. To celebrate Earth Month, the company is
also launching “Shop with Purpose” Amex Offers to reward eligible
customers for shopping with purpose throughout April. In addition,
as part of its $10 million grant commitment announced last year,
American Express is also providing $2.25 million to organizations
tackling the effects of climate change in local communities,
particularly urban areas.
“We’re excited to kick off Earth Month by introducing our new
suite of offerings that will enable our corporate clients to make
carbon conscious decisions and support community organizations
doing important work to promote a low-carbon future,” said Jennifer
Skyler, Chief Corporate Affairs Officer. “These new initiatives
build on the work we have done to reduce our own carbon footprint
by engaging our colleagues, customers and community partners in
initiatives that address the climate crisis.”
The company previously committed to net-zero carbon emissions by
2035, aligned with the Science Based Targets initiative, and has
been a carbon neutral company powered by 100% renewable electricity
across its global operations since 20181.
INTRODUCING LOW-CARBON SOLUTIONS FOR CUSTOMERS
According to the latest Amex Trendex2, a trend report from
American Express, 76% of consumers surveyed feel a greater urgency
to address climate change than they did a year ago. Yet, 84% of
consumers surveyed agree they would like to better understand their
carbon footprint, and 65% agree they are unsure of what actions
they can personally take to reduce it.
Last year, American Express announced a goal to pilot low-carbon
product innovations for its customers as part of its Advancing
Climate Solutions initiatives, which is a core pillar of the
company’s ESG strategy. In support of that goal, the company plans
to make new digital products and services available later this year
to help customers understand their carbon footprint.
To help corporate clients better understand their impact and
take action to manage their carbon footprint, American Express is
developing the following solutions:
- An Expanded Carbon Footprint Dashboard for global Corporate
clients to help track estimated carbon emissions associated
with certain categories of their employees’ spend - including air
travel, ground transportation, hotel stays, restaurants and retail
- letting them better understand behaviors so they can find
opportunities to manage carbon emissions.3
- A Carbon Offset Referral suite for U.S. Corporate
clients to find and connect with carbon offset providers who
can help them manage their footprint via offset solutions that
include investments in large-scale carbon removal and reduction
projects, avoidance projects, and more.
HELPING CARD MEMBERS SHOP WITH PURPOSE
American Express is launching a selection of “Shop with Purpose”
Amex Offers for the duration of Earth Month to eligible U.S.
Consumer and Small Business Card Members to support spending on
eligible purchases from select Certified B Corporations™ like
Avocado Green Mattress, Stumptown Coffee Roasters and pre-loved
designer fashion marketplace, Vestiaire Collective, and other
brands committed to making a difference.
The Amex Trendex found that 79% of consumers surveyed would be
more loyal to a company that works to address environmental issues
and 76% of consumers surveyed are interested in shopping at
Certified B Corporations.
EXPANDING AVAILABILITY OF RECYCLED PLASTIC CARDS
To reduce the company’s consumption of virgin plastic, in 2019
American Express launched the first-ever Card manufactured
primarily from reclaimed plastic collected from beaches and coastal
communities. Since then, teams at American Express have been
working to expand the availability of recycled plastic cards
globally. The company’s goal is to have the vast majority of
plastic cards issued by American Express be made of at least 70%
recycled or reclaimed plastic by the end of 2024, which can help
avoid nearly 160,000 pounds of virgin plastic from being used
annually.
American Express’ Card Take Back program enables U.S. Card
Members to return both plastic and non-plastic cards by mail for
recycling. Since the launch of this program in 2019, American
Express has recycled more than 1.3 million cards, including cards
returned by Card Members.
BACKING LOW-CARBON COMMUNITIES
Beyond efforts to reduce its own carbon footprint, American
Express is committed to supporting climate action through community
giving efforts. As part of its commitment to provide at least $10
million in funding for projects and initiatives that advance
climate solutions by 2025, the company today announced $2.25
million in grants to American Forests, National Park Foundation,
and Earthwatch Institute. These grants support nature-based
solutions and sustainability efforts in local communities,
particularly in urban areas.
- A $1.1 million grant to American Forests will support
its Tree Equity program by bringing more native and
climate-resilient trees to four U.S. cities where American Express
has offices – Phoenix, AZ, New York, NY, Sunrise, FL, and Salt Lake
City, UT. The grant will help identify potential nursery locations
and increase the number of local nurseries, support the planting of
urban forests, and create entry-level jobs to help historically
marginalized populations transition into the tree care industry.
Additionally, the grant will help expand Tree Equity Score to its
first international location where it will indicate whether there
are enough trees in neighborhoods for everyone to experience the
health, economic and climate benefits that trees provide.
- A new multi-year partnership with the National Park
Foundation will provide funding over the next three years for a
total of $1 million to support service corps programs, which will
provide job opportunities for young people of diverse backgrounds
and identities to experience careers in the outdoors. Service corps
members will engage in essential preservation projects that help
alleviate the effects of climate change in national parks across
the U.S.
- A $145,000 grant to Earthwatch Institute will fund the
planting of several hundred trees in the United Kingdom to help
mitigate the impacts of climate change, enhance biodiversity, and
provide planting, maintaining and monitoring volunteer
opportunities to American Express colleagues. In addition, the
grant will support the creation of a Climate Change Master Class
that will be accessible virtually later this year to American
Express colleagues. The class, led by scientists, will provide
education and tools to help colleagues reduce the impacts of
climate change in their personal lives and communities.
ENGAGING COLLEAGUES THROUGH GREEN2GETHER
Throughout the month, as part of the company’s Green2Gether
program, American Express colleagues around the world passionate
about the environment can participate in dozens of
company-sponsored activities, such as recycling drives, online
lectures, community clean-ups, and food sustainability awareness
campaigns.
As part of its ESG strategy, the company is working to engage
thousands more of our colleagues globally in sustainability
initiatives through Green2Gether, which includes workplace climate
education, waste and energy-reduction efforts, and volunteering
with non-profit partners.
To learn more about American Express’ approach to ESG to support
colleagues, customers and communities, check out its 2020-2021
Environmental, Social, and Governance (ESG) Report.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company,
providing customers with access to products, insights and
experiences that enrich lives and build business success. Learn
more at americanexpress.com and connect with us on
facebook.com/americanexpress, instagram.com/americanexpress,
linkedin.com/company/american-express, twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products, services and corporate responsibility
information: personal cards, business cards, travel services, gift
cards, prepaid cards, merchant services, Accertify, Kabbage, Resy,
corporate card, business travel, diversity and inclusion, corporate
responsibility and Environmental, Social, and Governance
reports.
FOOTNOTES
1 Achieved carbon neutral operations for Scope 1 (direct
emissions from sources owned or controlled by American Express),
Scope 2 (indirect location-based and market-based emissions), and
Scope 3 (waste and employee business travel, including third-party
air, rail and rental cars) emissions through renewable energy
credits, carbon offsets, and reduced GHG emissions. Operations
include all our managed facilities, field sites and data centers.
Managed facilities are individual properties operationally managed
by our global real estate team and housing critical business
functions. Field sites are individual properties that are not
operationally managed by our global real estate team but directly
by our business units. They are typically smaller sites, less than
30,000 square feet (including airport lounges, foreign exchange
kiosks, and sales offices) that are owned or leased by American
Express.
2 This Morning Consult poll was conducted between March 8-13th,
2022 among a national sample of 2,000n US and 1,000n travelers in
Japan, Australia, Mexico, India, UK, and Canada who have a
household income of at least $70K and defined as adults who
typically travel by air at least once a year. Results from each
market’s survey have a margin of error of plus or minus 3
percentage points.
3 American Express’ Carbon Footprint Tool calculations are
derived by applying selected conversion factors to spending made
with the following American Express Corporate products: Corporate
Card, Business Travel Account, Corporate Meeting Card, Corporate
Purchasing Card, Buyer Initiated Payments, vPayments and Amex Go.
The estimated information provided by the Carbon Footprint Tool is
for generalized informational purposes only and does not constitute
financial, tax, accounting, legal or other professional advice on
any subject matter. Product names and features may vary by country,
and not all products or features are available in all
countries.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
which are subject to risks and uncertainties. The forward-looking
statements, including the company’s aspirational ESG commitments
and goals, contain words such as “expect,” “anticipate,” “intend,”
“plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,”
“commit,” “hope,” “continue,” or other similar expressions. Actual
results may differ from those set forth in the forward-looking
statements due to a variety of factors, including: the amount and
efficacy of investments in product innovations, resources,
marketing campaigns and programs; changing customer behaviors,
interest in the company’s products, resources and programs;
management’s inability to identify suitable suppliers, partners and
community investments and negotiate acceptable terms; an inability
to build partnerships and execute programs with other companies and
of partners to meet their obligations to the company; changes in
developing standards and certifications; the cost and availability
of renewable energy, carbon removal and carbon offset projects and
energy attribute certificates; regulation; changes in the company’s
colleague and community engagement strategies; and changes in
economic or business conditions. A further description of these and
other risks and uncertainties can be found in the company’s Annual
Report on Form 10-K for the year ended December 31, 2021 and the
company’s other filings with the U.S. Securities and Exchange
Commission. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on
which they are made. We undertake no obligation to update or revise
any forward-looking statements.
Location: U.S.
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version on businesswire.com: https://www.businesswire.com/news/home/20220406005316/en/
MEDIA:
Ashley Tufts, Ashley.Tufts@aexp.com, +1-212-640-3193 Leah
Gerstner, Leah.M.Gerstner@aexp.com, +1-212-640-3174
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