The report, titled "Corporate Responsibility: A Comprehensive Review of Comerica's Environmental, Social and Governance Practices and Progress in 2019," provides a detailed look at the company's performance across a broad range of topics. This report marks Comerica's 12th consecutive annual report covering environmental, social and governance (ESG) topics. While the report focuses on ESG progress in 2019, information on Comerica's response to the coronavirus pandemic and racial injustice issues are also included.
"Our world has changed dramatically in recent months but what has remained unchanged is Comerica's commitment to serving our communities," said Curt Farmer, Chairman and CEO, Comerica Incorporated and Comerica Bank. "Part of that commitment includes our ongoing work as a responsible company and demonstrating the overall importance of ESG topics."
The report presents a streamlined approach to delivering high-quality ESG information to stakeholders. "Our report is organized around Comerica's Impact Topics – those ESG topics that were identified as mattering most to our stakeholders and our company," said Director of Corporate Sustainability Scott Beckerman. "These 18 topics cover issues such as Privacy & Information Protection, Climate Change Impacts, Diversity & Inclusion, Financial Inclusion & Education and Business Risk Management."
Comerica's reporting is based on extensive stakeholder engagement. Additional details on Comerica's stakeholder engagement process and evaluation of ESG topics is provided in its recently updated ESG Impact Assessment report, also available on comerica.com/sustainability.
The report also includes in-depth metrics across all of Comerica's ESG topics, as well as detailed presentation of Global Reporting Initiative (GRI) standards-based content and content referenced by the Sustainability Accounting Standards Board (SASB).
"Our aim is to provide information that is easily accessible and useful to the needs of all our stakeholders, while demonstrating how we believe our company, customers, communities and planet can thrive in a peaceful, prosperous and fulfilling way," Beckerman said.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $76.3 billion at March 31, 2020 and celebrated its 170th anniversary in August 2019.