Texan by Nature is excited to recognize Comerica Bank as a 2022 TxN 20 honoree for their leadership in conservation and sustainability. Comerica’s commitment to conservation, their projects, programs, best practices, and lessons learned are an example and inspiration for us all.

Honoree Industry and Size:  Financial Services – Enterprise

Comerica colleague at a Shred Day, collecting donations in support of local food bank.

Company Overview: Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, that understands the valuable return in supporting our environment. Comerica’s approximately 7,400 colleagues focus 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 $86.9 billion at June 30, 2022.

What is Comerica’s conservation and sustainability mission and why is it important to your culture?

As a company, Comerica seeks to raise the expectations of what a bank can be for our colleagues, customers, and communities. Our approach to sustainability and overall corporate responsibility is encapsulated in our Core Value of “A Force for Good.” This means we value empathy and integrity as we work to create a more diverse, inclusive, and sustainable workplace and world. To accomplish this from a sustainability perspective, we need to be keenly focused on reducing our own impacts while supporting our customers and communities as they work to be more sustainable.  With a culture that embraces raising expectations, sustainability, and the ongoing improvements this entails, it is a natural fit with our colleagues.    

How is conservation and sustainability a part of Comerica’s business strategy?

At Comerica, we approach sustainability through the lens of value creation. Conservation and sustainability aren’t about doing without, but rather being smarter about how we choose to use our resources. We look to make progress in increasing knowledge and innovation, reducing our costs and risk, identifying business opportunities and if we do all of that, we know we will improve our reputation and enhance our brand. Across all of our lines of business and all of our internal functions, we understand that our customers can’t be successful without a healthy and vibrant planet.

What are Comerica’s short and long-term goals as they relate to conservation and sustainability?

Comerica recognizes the ongoing threat posed by a changing climate and disparate impacts that can entail. So, we have prioritized the  reduction of our greenhouse gas (GHG) emissions with a goal of reducing emissions to 50% by 2025, 65% by 2030, and 100% by 2050 (Scope 1 and 2 vs. a 2012 baseline).  We also recognize that we alone can’t stem the impacts of climate change, so we work to support our customers and supply chains to address sustainability needs and support the reduction of GHG emissions. Comerica was one of the first regional banks to join the Partnership for Carbon Accounting Financials (PCAF) to better understand and transparently report on GHG emissions across our full value chain. We also understand that issues like water, waste and paper reduction are key to being a more sustainable organization, and we seek to make ongoing reductions in these areas as well.

“Comerica is honored to be recognized as part of this amazing cohort that represents the TxN 20.  It stands as a testament to our dedication to protecting and preserving the environment and reflects our commitment to be a force for good within the communities that we call home.”

-Scott Beckerman, Senior Vice President and Director of Corporate Sustainability, Comerica, Inc.

Who in Comerica is leading your conservation and sustainability efforts and what are some examples of employee engagement in conservation and sustainability at your company?
At Comerica, the actions of all our colleagues support our sustainability commitments.  From our Green Team members to the participants in our Master of Sustainability Awareness engagement program, we look to embed sustainable practices into everyone’s personal and professional lives.  

We are led by Wendy Bridges, Comerica’s Executive Director of Corporate Responsibility, who reports directly to Comerica’s CEO.  A lifelong Texan, Wendy’s dedication to sustainability and all aspects of corporate responsibility allows our programs and initiatives to thrive. Our small but mighty corporate sustainability team works with colleagues across the company to reduce our impacts and better understand risks and opportunities related to sustainability.

“For years, Comerica has been proactive in matters related to our environment, the needs of our communities and customers, and the criticality of a diverse culture. Unifying our experienced and talented team of leaders in this space further enhances our ESG impacts for our customers, colleagues, and the communities we serve.”

-Wendy Bridges, Executive Vice President, Comerica, Inc.

What conservation and sustainability programs and projects does Comerica lead and participate in?
Comerica’s innovative Master of Sustainability Awareness (MSA) program is our colleague education and engagement program dedicated to sustainability. Developed in-house, this program seeks to move our employees from learning about sustainability, to sharing what they’ve learned and then putting it into action, both at work and at home.  As a result, over 600 of Comerica colleagues participate in education and volunteer events across our markets, like our support of cleanup events and habitat restoration and preservation.  

Comerica was also pleased to bring back our Shred Days to Texas in 2022, where we provide free shredding of sensitive paper documents. During this event, we also collect donations in support of local food banks.  Shred Days bring together privacy protection, environmental conservation, and support of those in need – a true triple-bottom-line service to the community.  Since 2011, our Texas Shred Days have collected more than 4 million pounds of paper for recycling while providing a little over 700,000 meals for area residents through our food bank partners the North Texas Food Bank and the Houston Food Bank.

Texas Shred Days have collected more than 4 million pounds of paper for recycling.

How do you see the future of conservation and sustainability evolving, and what role will Comerica play in that progress? 

Our world is constantly changing. While reducing our environmental footprint will continue to be a priority for Comerica, we recognize that we can have an even greater impact when we support our customers in helping them respond to the needs of a greening economy and meet their own sustainability-related goals and objectives. We like to refer to this as shifting from reducing our footprint to increasing our handprint by supporting our customers’ evolving needs and goals.  

What is the one lesson that Comerica has learned from your conservation and sustainability efforts that others can take back and think about applying within their own space?

We are fortunate to have formally been engaged on sustainability since the formation of our corporate sustainability office back in 2008. A key to our success has been the continued improvements we’ve made year after year. Our long-term dedication has resulted in tremendous reductions in our environmental footprint. Progress over time matters, so get started today even if you are starting small.  Focus on the things that are most significant for your organization and in your area. Perhaps its climate change mitigation, water conservation, or reductions in toxic chemicals. Identify your key impacts, start making changes, and join us on the path to a more sustainable future.  

Why is Texas an important home or base of operations for Comerica?

Headquartered in Dallas since 2007, Texas represents an important home for our company, with its dynamic economy, ideal climate for business, and affordability for opportunity.  We are the largest U.S. commercial bank headquartered in Texas, we have over 1400 colleagues based in Texas, with 124 banking centers throughout the state (as of 6/30/22), serving the financial needs of Texans and their businesses.  

Learn more about Comerica’s conservation and sustainability efforts here.