Being a responsible corporate citizen is part of our plan, and we sweat the details. With products and services that support green buildings, energy efficiency, high-efficiency vehicles, and renewable energy, we’re helping create a more sustainable economy.
Building a Sustainable Community Through Responsible Actions
At Key, sustainability and climate stewardship are central to our business strategy. Given the significant physical impacts related to climate change, stakeholders and shareholders increasingly expect the financial services industry to lead in driving climate action. Key leverages our expertise, relationships, market influence, and resources to help address the pressing challenge of climate change, encourage sustainable business practices across our value chain, and develop resilient communities. Through our commitment to sustainability, we seek to minimize the environmental impact of our operations, provide comprehensive and sustainable solutions to our clients, and support environmental equity in our communities.
In 2024, we made significant strides in our climate efforts, guided by three core pillars:
- Mobilizing Capital: We supported our clients and communities in climate adaptation and mitigation by investing in sustainable projects and initiatives that enhance environmental resilience and social well-being.
- Operational Sustainability: We reduced our environmental footprint through energy efficiency, paper and e-waste reduction, and sustainable procurement practices.
- Climate Risk Management: We improved our risk management practices to identify and address climate-related risks and better assess physical impacts to our operational footprint and lending portfolio.
We are pleased to share our progress toward the environmental targets we announced in April 2022:
- Financed or facilitated more than $16 billion toward our $38 billion sustainable finance commitment to address climate change and support green initiatives.
- Reached 50% of our goal to achieve carbon-neutral operations across our Scope 1 direct emissions and Scope 2 indirect greenhouse gas (GHG) emissions by year-end 2030.
- Advanced our analytical capabilities to assess the physical impacts of climate change on our portfolio, including exposure to our real estate and low- to moderate-income (LMI) portfolios.
Mobilizing Capital to Support Our Clients and Communities
Key’s most impactful contribution to climate action is supporting our clients in transitioning to a low-carbon economy. Through our core business activities, we finance and facilitate projects in clean energy, sustainable transportation, agriculture, and green buildings — helping clients build long-term climate resilience. We also invest in emerging clean technologies and participate in the green, social, and sustainable bond markets to advance our purpose of helping communities thrive.
Key has committed to finance or facilitate $38 billion in climate and green initiatives. By year-end 2024, we had deployed over $16 billion — surpassing 40% of our goal — while reinforcing our leadership in North American renewable energy financing and managing transition-related business risks.
Achieving Operational Sustainability
Key is focused on enhancing our operational sustainability by making our facilities more efficient and seeking to invest in renewable energy projects that help reduce our carbon footprint while adding renewable energy to the grid.
As part of our commitment to achieve carbon neutrality for our Scope 1 direct and Scope 2 indirect GHG emissions by 2030, we are developing a strategy to procure nearly 100% renewable energy. This includes exploring long-term renewable energy projects and installing on-site solar energy where feasible. As part of this strategy, we continuously look for ways to make our existing operations more efficient, and we design and construct new branches guided by green building principles. In 2024, we spent more than $4.7 million on energy efficiency projects across our footprint.
