CLEVELAND, May 23, 2017 /PRNewswire/ -- KeyCorp (NYSE: KEY) today released its 2016 Corporate Responsibility Report, highlighting progress in the areas of Responsible Banking, Responsible Citizenship and Responsible Operations, alongside industry awards and accolades. The report found that the bank exceeded its long-term energy use reduction goal with a 33.5 percent reduction in energy use compared to the 25 percent goal set for 2020. By the end of 2016, the bank maintained a renewable energy portfolio worth more than $3.4 billion and earned an "A-" CDP score.
To view the full Key CR Report, visit: www.key.com/crreport
Overall, KeyBank's Corporate Responsibility Report describes the bank's consistently-committed resources to the neighborhoods it serves, and outlines the acquisition of First Niagara, the development of the National Community Benefits Plan and the bank's new philanthropic focus. The report also includes details about banking consumers' experiences with the HelloWallet personal finance solution and strengthening diverse talent.
"At KeyBank, we help clients and communities thrive through consistency and commitment," said Bruce Murphy, executive vice president and head of Corporate Responsibility. "In 2016, we carried out banking, citizenship and operations that directly supported our neighbors and their communities. We're proud of our approach and are excited to continue progressing through 2017."
The Corporate Responsibility Report details Key's successful acquisition of First Niagara in 2016, adding 304 branches and integrating a mortgage platform that will help the bank support aspiring homeowners. The acquisition spurred the development of KeyBank's National Community Benefits Plan, a $16.5 billion plan that holds the bank accountable for investments in mortgage, small business lending, community development lending and investments, philanthropy and innovation. Together, the two banks make up "the new KeyBank," a highly-regarded community development and financial wellness powerhouse serving 15 states across the country.
Over the course of 2016, KeyBank successfully onboarded Corporate Responsibility Officers, hired diverse talent and contracted diverse suppliers. The new Corporate Responsibility Officer position establishes leading forces in regional markets to move Key's Community Reinvestment Act and local engagement activities forward. The bank also maintained diverse hiring and business practices: 30 percent of hires in 2016 were minorities, 62 percent were women and 12 percent of the corporate procurement spend went to diverse suppliers, contributing to KeyBank maintaining its position on the DiversityInc.'s Top 50 Companies for Diversity list.
"At KeyBank, we lead by example," said Andrew Watterson, head of sustainability at KeyBank. "We prioritize sustainable operations that demonstrate our commitment to responsibility and showcase our impact on the neighborhoods we proudly serve, and will continue to serve in the future."
After its performance in 2016, Key's accolades include:
- Eight consecutive "Outstanding" CRA ratings
- Three "America's 50 Most Community-Minded Companies" recognitions from the Points of Light Civic 50
- Seven "Top 50 Companies for Diversity" designations from DiversityInc.
- Nine "Best Companies for LGBT Equality" designations from the Human Rights Campaign
- Two "Military Friendly Employer" awards by G.I. Jobs
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
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