Discover Releases Inaugural Environmental, Social, and Governance (ESG) Report

May 10, 2023

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.

Matthew Towson
224-405-5649
matthewtowson@discover.com
@Discover_News

Source: Discover Financial Services