Discover Publishes 2021 Corporate Responsibility Report
10 Mai 2022 - 1:30PM
Business Wire
Discover today published its 2021 Corporate Responsibility
Report Building a Brighter Tomorrow, which shares actions the
company undertook in fulfilling its mission to help people achieve
brighter financial futures. From providing free financial education
curriculum to thousands of classrooms across the country, operating
responsibly, and protecting the environment to bringing new jobs
and economic opportunities on Chicago’s South Side, the report
highlights Discover’s efforts in improving the financial stability
and well-being of its customers, employees, and communities.
“In an effort to build a more sustainable and equitable world,
Discover is committed to addressing the challenges related to
climate change, advancing diversity, equity, and inclusion and
adhering to a sound structure for governance and ethics,” said Matt
Johanson, Senior Vice President of Social Impact & Chief
Environment, Social, and Governance (ESG) Officer at Discover. “We
are proud of all the work and progress highlighted in our latest
Corporate Responsibility Report and are looking forward to further
building out our full ESG program in the coming months.”
Earlier this year, the Company released its first Diversity,
Equity & Inclusion Transparency Report, named Johanson as Chief
ESG Officer, and published an ESG-focused tear sheet which includes
an ESG mission statement and initial environmental disclosures.
Discover’s progress is showcased through six key areas of the
Corporate Responsibility Report:
ESG Commitment
Discover’s commitment to ESG include:
- Addressing the global challenges presented by climate change by
reducing the environmental impact of our physical operations as we
design solutions to build a more sustainable and low carbon
future.
- Advancing equity and driving positive social change by
leveraging job opportunities, supplier spend, charitable
contributions, products, and more.
- Promoting a diverse, equitable, and inclusive workforce that
reflects our communities.
- Supporting local communities and diverse suppliers in order to
improve economic mobility and promote financial inclusion.
- “Doing the Right Thing” for employees, customers, shareholders
by promoting transparency, accountability, and ethical behavior in
everything we do.
Promoting Economic Stability and Mobility
Discover is committed to helping people build brighter financial
futures by increasing customers’ financial security, promoting
financial education and providing opportunities for economic
empowerment by:
- Eliminating all fees for customers with a checking, savings,
money market, or certificate of deposit (CD) account from Discover
Bank – ensuring our customers money can work harder for them.
- Offering the Discover Credit Scorecard that helps individuals
understand their creditworthiness by providing easy access to their
FICO® Credit Score. The scorecard is free for customers age 18+.
More than 13 million customers checked their FICO score with the
Discover Credit Scorecard in 2021.
- Opening a new customer care center in Chicago’s Chatham
community, bringing nearly 1,000 full-time jobs to this vibrant
black community by 2024.
- Spending $81MM with diverse owned businesses, a more than 35%
increase in spending from the previous year.
- Building on financial education opportunities through Pathway
to Financial Success, a financial education program that has
impacted more than 5.7 million students since its launch in
2012.
Prioritizing Our People
Discover strives to ensure that employees feel well-supported,
valued and have an inclusive workplace that celebrates diversity
by:
- Progressing toward our Diversity North Star Goal of 50% women
and 40% People of Color (POC) at all management levels by
2025.
- Building a workforce that reflects the diversity of the
customers and communities we serve by reducing biases and
inequities in our systems and processes and establishing measures
and reporting for full talent cycle by 2022.
- Increasing support for employees by enhancing mental health,
family, and career resources.
- Developing our workforce by offering educational and upskilling
programs, and tuition reimbursement. Since 2018, 2000+ employees
have enrolled in an education program and approximately $20 million
of tuition costs have been paid by Discover.
Protecting Our Planet
In addition to others build a brighter financial future, we’re
committed to environmental responsibility and use sustainability
best practices in our own operations through the following:
- Evaluating onsite facilities, building with LEED standards and
replacing equipment with energy-efficient and cost-effective
technology.
- Decreasing on-site waste output by about 80% and water usage
decreased by 25 million gallons in 2021, thanks in large part to a
mostly at-home workforce.
- Continuing to provide benefits to environmentally conscious
customers – resulting in customers donating $342,000 in rewards to
Carbonfund.org, which plants a tree for every dollar they
receive.
Making an Impact in Communities
Discover invests in programs that help build resilient
communities and ensure that community members, including its
employees, have access to critical resources. Delivering on this
mission includes:
- Launching Missions as part of our You Care, We Share program to
engage employees in community causes and take positive action,
allowing them to track their work through gamified,
easy-to-complete activities that amplify social responsibility
initiatives.
- Engaging employees in volunteerism where more than 5,200
volunteered in 2021 contributing nearly 38,000 volunteer hours, up
more than 115% year-over-year.
- Continuing to partner with organizations that share similar
values and help us reach more communities, including Cradles to
Crayons, Boys & Girls Club, and Blessings in a Backpack.
Operating Responsibility
Discover ensures strong governance practices are in place
by:
- Striving for a Board that reflects and represents our diverse
workforce; 50% of Discover’s Board committees are chaired by women.
Twenty-five percent of Discover’s Board is comprised of people of
color.
- Instilling accountability, transparency and good
decision-making as core pillars of our Corporate Governance
Program.
- Prioritizing cybersecurity by integrating it across Discover,
improving cybersecurity capabilities, and developing and retaining
a highly-skilled cybersecurity workforce.
For more information, please visit:
https://www.corporatereport.com/discover/2021/crr/
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 merchant
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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