Huntington Bancshares Incorporated publishes its 2021 ESG report

Updates stakeholders on commitments to economic inclusion, community development, human capital and sustainability

Columbus, Ohio, August 31, 2022 /PRNewswire/ — Huntington Bancshares Incorporated (Nasdaq: HBAN) has released its 2021 Environmental, Social and Governance (ESG) Report, highlighting how Huntington helps people achieve their goals, empowers businesses to grow and strives to create thriving and resilient communities.

The 2021 ESG Report provides a comprehensive review of Huntington’s progress on performance dimensions that drive long-term sustainable value for all of its stakeholders, as well as the impact of its focus on community economic development, equity and environmental sustainability.

“Our ESG efforts are aligned with our goal of looking out for our colleagues, our customers and the communities we serve,” said Steve Steinour, Chairman, President and Chief Executive Officer. “Our values ​​are the catalyst for our culture of service and performance at Huntington. We are committed to delivering an exceptional customer experience, staying deeply connected to our communities, and providing our colleagues with fulfilling professional careers. We remain focused on our ESG efforts and are inspired by the role we can play in the lives of all those we serve.”

In 2016, Huntington launched its strategic commitment to ESG best practices to provide increased transparency and accountability around our long-standing commitment to promoting corporate social responsibility, prudent risk management and strong financial results.

Huntington’s commitment to continuously improving the integration of ESG strategic frameworks into the business is reflected in this year’s report which details improved board and management governance structures, as well as investments in new products and programs, the maturation of metrics, and a growing push toward impact-based reporting.

“Our governance actions outlined in this report guide us on our path to becoming a top performing bank, creating long-term value for all of our stakeholders,” said Dave Porteous, Lead Director, Huntington Board of Directors. “Our Board of Directors appreciates the importance of aligning our business goals and the success of our consumer, business and community partners within the context of shared and sustainable prosperity.”

This is Huntington’s sixth ESG report and includes its second-year report to the Sustainability Accounting Standards Board (SASB) standards for commercial banking and consumer finance, and its third annual report to the group executive. Working Group on Climate-Related Financial Disclosures (TCFD).

Notable progress in priority areas related to ESG includes:

Stimulate investment and economic growth in communities: Huntington’s commitments to provide financial education, serve the underbanked, and expand economic inclusion programs provide a platform to help reduce poverty and generate economic opportunity for all.

  • Launched an industry-leading five-year contract $40 billion Community plan, to address economic, social, environmental and racial equity challenges
    • Dedicated $16 billion loans and investments to establish programs and services that promote equity in areas such as affordable housing, small business financing and community services
    • Extended by approx. $7.6 billion loans to low-income and underserved borrowers
    • Expansion of Huntington Lift Local Business, a small business program that provides greater access to credit, business planning services and educational resources, with a focus on minority, women and minority-owned businesses to veterans
  • Advanced access to banking services serving customers and communities with 26.2% of our branches located in low-to-moderate income neighborhoods
  • Helped nearly 3,000 families in mortgage difficulty through the Home Savers program
  • 28,500 hours of volunteer service with colleagues in more than 1,100 nonprofit organizations
  • Growing access to capital for small businesses as the top SBA 7(a) loan originator (by number) in our region for the thirteenth consecutive year
  • Expanding our Fair Play banking philosophy with new products that support the financial well-being of our customers

Cultivate a diverse workforce and governance structure: Huntington is committed to promoting diversity, equity and inclusion within its workforce, as well as doing business with a diverse supplier base.

  • Achieved 47% diversity on the Huntington Board of Directors
  • Achieved 68% total workforce diversity and 45% diversity in middle and executive management
  • Implementation of a bank-wide minimum wage increase for $19 per effective hour January 1, 2022
  • Average base salary achieved for female colleagues with the same job titles as men at 99% of that paid to men, and average base salary for racially diverse colleagues with the same job titles as non-immigrant colleagues. racial diversity at 99% of that paid to non-minority
  • Increased our total spend with various suppliers to 21.3%, exceeding our target of 18%, supporting over 3,675 jobs and $472 million as a contribution to the GDP of the United States

Serve as guardian of the environment: Huntington is committed to the transition to a low carbon economy. We are taking meaningful action in our own business and encouraging our suppliers, customers, partners and communities to do the same.

  • Obtained an A- rating from CDP for climate change as part of our ongoing commitment to sustainability
  • Reduction of greenhouse gas emissions by 35% since 2017
  • Shift 50% of electricity consumption to renewable sources by 2035
  • Obtaining 80 new ENERGY STAR certifications for our buildings
  • Developing an exploratory roadmap to achieve a zero-carbon future
  • Invested in dedicated leadership roles, including our Director of Climate Risk and our Director of Environmental Strategy and Sustainability, to guide support for climate risk and the climate change transition for all stakeholders
  • Joined the Partnership for Carbon Accounting Financials (PCAF) to align with industry risk management standards

About Huntington

Huntington Bancshares Incorporated is a $179 billion regional asset holding bank headquartered in Columbus, Ohio. Founded in 1866, National Bank Huntington and its subsidiaries offer consumers, small and medium-sized businesses, corporations, municipalities and other organizations a full range of banking, payment, wealth management and banking products and services. risk management. Huntington operates more than 1,000 branches in 11 states, with some companies operating in wide geographic areas. Visit Huntington.com for more information.

This press release contains certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections and statements, which are not historical facts and are subject to numerous assumptions, risks and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, objective or similar expressions, or future or conditional verbs such as will, may, could , should, could, could, or similar variants. Forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995.

All forward-looking statements speak only as of the date they are made and are based on information available at that time. We undertake no obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unforeseen events, except as federal laws securities require it. Because forward-looking statements involve significant risks and uncertainties, caution should be exercised not to place undue reliance on such statements. Please carefully review and consider the various disclosures provided in this document and in our other filings with the SEC for additional information about the risks and other factors that could affect our business, results of operations, condition financial or our prospects.

SOURCEHuntington Bancshares Inc.

Comments are closed.