ESG at Huntington
Huntington's commitment to serving others has been our core value and purpose since our founding in 1866. This dedicated focus on being a trusted partner has never been more important. Our stakeholders—our communities, customers, colleagues, and shareholders—are living through periods of rapid innovation and promising change.
Technological, social, environmental, economic, and numerous other advancements will impact all of us in the years to come. Huntington has never been better-positioned to address the challenges—and capitalize on the opportunities—that change presents. Our steadfast focus on creating more inclusive and economically vibrant communities, becoming the best place our colleagues will ever work, and helping customers manage their energy transition and decarbonization efforts are enabling us to chart our path forward.
Our continued progress would not be possible without the dedication of Huntington's nearly 20,000 colleagues. We thank them for bringing Huntington's Purpose into focus each day. We also thank our stakeholders for their shared belief that we have an opportunity to make people's lives better.
It is through this shared belief that we are proud to say we are Purpose-driven. Always and All Ways.
Our ESG Strategy
At Huntington, we focus on the ESG issues important to our business and our stakeholders, using ESG as a strategic driver for sustainable growth.
We address ESG with a Purpose-focused strategy that leverages our economic impact. This begins with our commitment to delivering sustainable, long-term shareholder value through top-tier performance, while maintaining an aggregate moderate-to-low, through-the-cycle risk appetite and well-capitalized position. As a regional bank, our economic impact includes helping individuals and families reach their goals of financial stability and homeownership; providing businesses, especially small and mid-sized businesses, with the resources to grow; serving and uplifting unbanked and underbanked individuals; and working in partnership to create prosperous and resilient communities for all.
"I am proud to help lead our ESG strategy as we further the collective impact of our nearly 20,000 colleagues in pursuit of our Vision to become the country's leading people-first, digitally powered bank. Together, we are Purpose-Driven. Always and All Ways."
S. Jason Fraley,
Chief Environmental, Social, and Governance Officer
2022 ESG Highlights
Driving Economic Impact and Enhancing Our Communities.
$2.9 billion
In community development loans and investments
#1 Originator
In SBA 7(a) loans by number in the nation1
$19.6 billion
Invested in our communities as part of Huntington’s five-year, $40 billion Community Plan
MORE THAN $12 MILLION
In closing costs waived for buyers in low-to-moderate income regions
Our Unwavering Commitment to Diversity,
Equity, and Inclusion
101%
Average base equity for racially diverse colleagues with the same job titles as non-racially diverse colleagues
99%
Average base pay equity for women colleagues with the same job titles as men
22%
Of total addressable spend with diverse suppliers, exceeding our goal of 18%
23%
Of workforce have joined at least one DEI Network2
Diverse Colleagues
68% total colleague diversity as of 2022
Leadership
Diversity
Delivering on Our Environmental Commitments
Our Environmental Footprint Reduction Goals
In 2022, we completed our first-ever environmental goals set in 2017—a significant milestone in our environmental responsibility journey. As discussed in our 2021 ESG Report, we began integrating environmental data from our TCF acquisition in mid-June 2021, which impacted our ability to meet our previously defined 2022 goals. However, our 2022 legacy Huntington performance demonstrates our achievement of all three 2022 goals against our 2017 legacy Huntington baseline.
Below, we have included data corresponding with both performance of the total Company and performance of legacy Huntington to help our stakeholders understand our environmental journey and to demonstrate our transparency in reporting.
| Indicator | Target | Target Year | 2022 Total Company | 2022 Legacy Huntington | |
|---|---|---|---|---|---|
|
Water Consumption3
|
15% reduction
|
2022
|
18% increase
|
30% reduction
|
|
|
Landfill Waste3
|
25% reduction
|
2022
|
10% reduction
|
53% reduction
|
|
|
Office Paper Printing3,4
|
25% reduction
|
2022
|
43% reduction
|
43% reduction
|
Greenhouse Gas Emissions Reduction Goals
The below table outlines our progress against our midterm and long-term greenhouse gas (GHG) emissions reduction goals. Having achieved these targets for legacy Huntington, we are modifying our goals in 2023 to a single goal of realizing 35% GHG emissions (Scope 1 and Scope 2 location-based) reduction by 2023, using a 2022 baseline.
| Indicator | Target | Target Year | 2022 Total Company | 2022 Legacy Huntington | |
|---|---|---|---|---|---|
|
GHG Emissions
(Scope 1 & Scope 2 location-based)3 |
31% reduction
41% reduction |
2027
2037 |
22% reduction
22% reduction |
43% reduction
43% reduction |
Our Environmental Sustainability Goals
In 2023, with input from the Board of Directors, executive leadership, and other engaged stakeholders, we built on the progress of our inaugural goals by defining a new set of goals focused on reducing our emissions, mitigating our energy use, adopting renewable energy alternatives, and lowering our water consumption. We built our goals with an understanding of the most up-to-date climate science to make a meaningful impact.
| Indicator | Target | Target Year | 2022 Total Company Performance | |
|---|---|---|---|---|
|
GHG Emissions
(Scope 1 & Scope 2 location-based) |
35% reduction
|
2030
|
n/a - baseline year
|
|
|
GHG Emissions
(Scope 2 market-based) |
50% reduction
|
2035
|
n/a - baseline year
|
|
|
Water Consumption
|
15% reduction
|
2030
|
n/a - baseline year
|
|
|
Landfill Waste
|
25% reduction
|
2030
|
n/a - baseline year
|
|
|
Renewable Energy
|
50% of electricity usage
|
2035
|
1% of electricity usage
|
Our Approach to ESG
Economic
Social
Environmental
Governance
Our Purpose in Action
Awards and Recognition
Newsweek
America’s Most Responsible Companies 2023 (4th consecutive year)
J.D. Power
Ranked highest regionally in the 2023 U.S. Banking Mobile App Satisfaction Study
(5th consecutive year)5
Training Magazine
2023 Training APEX Awards winner
(4th consecutive year)
Additional ESG Resources
Corporate Documents
- 2022 Annual Report
- 2023 Proxy Statement
- Code of Business Conduct and Ethics
- Corporate Governance Guidelines
- Board Committee Charters
- IR Public Disclosure and Access Policy
- Human Rights Statement
- Required Trainings
Environmental Documents
Privacy and Security
Government Relations
- Oversight and Management
- FEC Political Reporting (Committee ID C00165589)
- Political Action Committee Contributions
- Bond Issue/Levy Support
Supplier Management
Fair and Responsible Banking
- Financial Education
- Credit Education
- Small Business Calculators
- Small Business Resources
- Online Services Agreement
Previous ESG Reports
1 SBA loans subject to SBA eligibility. Huntington is #1 in the nation in number of SBA 7(a) loans from October 1, 2017 to September 30, 2023. Huntington was the #1 SBA 7(a) lender in the region made up of Illinois, Indiana, Kentucky, Ohio, Michigan, West Virginia, and Western Pennsylvania from October 1, 2008 to September 30, 2021 and the region made up of Illinois, Indiana, Kentucky, Ohio, Michigan, West Virginia, Pennsylvania, Minnesota, Colorado and Wisconsin from October 1, 2021 to September 30, 2023. Source: U.S. Small Business Administration (SBA).
2Huntington’s DEI network includes Business Resource Groups, Inclusion Councils, and Communities of Practice.
3Compared with a 2017 baseline based on legacy Huntington.
4Paper printing data does not include TCF data as Project Papercut is not yet offered at these locations.
5Huntington received the highest score among regional banks ($70B to $200B in deposits) for the fifth consecutive year in the J.D. Power U.S. Banking Mobile App Satisfaction Study, which measures customer satisfaction with financial institutions’ mobile applications for banking account management.