BIRMINGHAM, Ala.--(BUSINESS WIRE)--Regions Financial Corporation (NYSE:RF) today announced that the company has integrated the Sustainability Accounting Standards Board (SASB) reporting standards into its environmental, social and governance (ESG) disclosures.
Regions is among the first U.S. regional banks to release a disclosure using the SASB standards, which are intended to provide transparent, useful and relevant ESG data to investors. Regions’ disclosure incorporates elements of the SASB industry standards for Commercial Banks, Consumer Finance and Mortgage Finance, which the company has identified as being most relevant to its operations and business.
The full board of directors and its committees oversee matters related to Regions’ ESG practices, performance and disclosure. Direct oversight responsibility for environmental matters and corporate responsibility is assigned to the Nominating and Corporate Governance Committee.
“The board and management recognize that responsible and responsive corporate governance practices enable companies to generate consistent, sustainable, long-term performance,” said Charles McCrary, Chair of the Regions Financial board of directors. “We are pleased to introduce a SASB disclosure addressing sustainability topics that are important to our investors.”
SASB is an independent standards-setting organization that supports reporting standards for companies to identify, manage, and communicate financially material sustainability information to their investors. These standards help to promote the generation of information that investors can reliably use to compare industry peers on material topics directly tied to long-term sustainability.
“Regions is committed to advancing environmental, social and governance priorities in alignment with our strategic focus on continuously improving,” said Regions’ Chief Governance Officer Hope Mehlman. “This SASB disclosure complements Regions’ existing reporting and shareholder engagement efforts intended to provide investors with consistent, transparent and relevant information about the company.”
The 2018 SASB Disclosure is available in the Governance section of the Regions Investor Relations site at this link. The 2018 Report is Regions’ first disclosure pursuant to the SASB standards and is intended to be read in conjunction with Regions’ 2018 Environmental, Social, and Governance Report; 2019 CDP Climate Change Response; 2019 Proxy Statement; and the Regions 2018 Form 10-K.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $128 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.