Discover Releases Inaugural Environmental, Social, and Governance (ESG) Report
May 10 2023 - 9:27AM
Business Wire
Discover today published its first Environmental, Social, and
Governance (ESG) report. The 2022 ESG Report outlines the progress
made since the company’s release of last year’s Diversity, Equity
& Inclusion (DE&I) Report and the impact created across
social, environmental and governance areas. In addition to DE&I
North Star Goals, the report includes new social impact and
environmental sustainability goals.
“The release of our first ESG report is a significant milestone
for us at Discover and communicating our ESG efforts transparently
is a priority. The activities highlighted in this report allow us
to fully deliver on our mission to help people have brighter
financial futures. Long before we had formal programs, actions led
by our Discover Values and Behaviors gave us a strong foundation
for progress,” said Matt Johanson, Chief ESG Officer & Senior
Vice President of Social Impact at Discover.
At the core of the ESG report is DE&I and Social Impact and
the company’s commitment to lead efforts that use the company’s
platform of jobs, products, business spend, philanthropy, and more
to advance equity, motivate others to effect change, and help
people achieve brighter financial futures.
“Our team continues to work tirelessly in pursuit of achieving
our DE&I North Star Goals, and I’m proud of the progress we are
making. We’re committed to creating real change and are
well-positioned to positively impact our employees, customers, and
communities through our DE&I and ESG efforts,” said Jonita
Wilson, Chief Diversity Officer at Discover.
Highlights from the 2022 report:
Diversity
- Increased women Directors and People Manager populations
- Strengthened pipeline of People of Color (POC) to management
levels
- Increased Black and Hispanic representation at nearly all
levels
Equity
- Established a measurement system that helps us assess potential
equity gaps in our talent processes
Inclusion
- Increased Inclusion Index score by 3 points, achieving a score
of 80/100 or above for all identity groups
Social Impact
- Our Chatham Customer Care Center hired over 450 employees,
keeping us on track to meet our goal of creating 1,000 new jobs on
Chicago’s South Side by 2024
- Announced our decision to move our Ohio Customer Care Center to
the growing and diverse city of Whitehall
- In 2022, we spent $103 million with diverse-owned businesses, a
27% increase from 2021
Environmental Sustainability
- Established our goal to reduce our Scope 1 and Scope 2 GHG
emissions by 50% from the 2017 baseline by 2030. In 2022, we
reduced our Scope 1 and 2 emissions by 29%
Governance
- Risk-aware culture overseen by a separate Risk Oversight
Committee
- 31% of our Board of Directors are women; 50% of our Board
committees are chaired by women
For more information on Discover’s ESG efforts and to read the
full report, visit
https://www.discover.com/company/esg/2022-esg-report/home/
About Discover
Discover Financial Services (NYSE: DFS) is a digital banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover® card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
loans, checking and savings accounts and certificates of deposit
through its banking business. It operates the Discover Global
Network® comprised of Discover Network, with millions of merchants
and cash access locations; PULSE®, one of the nation's leading
ATM/debit networks; and Diners Club International®, a global
payments network with acceptance around the world. For more
information, visit www.discover.com/company.
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Matthew Towson 224-405-5649 matthewtowson@discover.com
@Discover_News
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