Climate Change Data

Environmental Metrics

ESG Focus Areas

• Fair lending
• Responsible marketing
• Financial inclusion and access
• Data privacy and information security
• Human capital management (including diversity and inclusion)
• Community investment
• Environmental sustainability

Environmental Achievements

• Recycled over 2,500 printer drums across U.S. sites.
• More than doubled the number of electric vehicle (EV) charging stations across U.S. sites, resulting in a reduction in carbon emissions by approximately 26.4 metric tons.
• Eliminated approximately 4,700 metric tons of carbon dioxide for the year by factoring in trips not made by employees working from home.
• Recycled 6.9 tons of plastic waste at Stamford, CT headquarters.
• Launched a plastic water bottle reduction initiative at Stamford, CT headquarters.
• Close to 70% of facilities incorporate LED lights, achieving 50-70% lighting energy savings.

Social Achievements

• Named a Fortune 100 Best Companies to Work For in 2018 and 2019.
• Recognized by Forbes as one of the nation’s best employers for diversity.
• Launched “Driving Inclusion and Uncovering Hidden Bias” training.
• Developed a secured card product for customers with limited credit histories.
• Supported customers affected by natural disasters (Hurricanes Lane, Florence, Michael, California wildfires) and the U.S. government shutdown.
• Employees spent more than 44,000 hours volunteering in their communities.
• Families That Work program provided support in family homelessness, out-of-school care, and economic security.
• Partnered with nonprofits to offer job training, career counseling, and financial education.
• Hosted the Girls Who Code Summer Immersion Program for 60 high school girls.
• 92% of STEP program participants moved into new roles within two years, with 66% representing a promotion.

Governance Achievements

• Independent and diverse Board of Directors (9 of 10 directors independent; 4 women; 3 minorities; 2 veterans).
• Robust governance framework for new product introduction (NPI) process.
• Strong consumer compliance risk management program for addressing customer complaints.
• Annual employee engagement survey to monitor employee satisfaction.

Climate Goals & Targets

Environmental Challenges

• Maintaining information security in an evolving threat landscape.
• Addressing the needs of working families facing economic insecurity.
• Balancing the demands of work and life for employees.

Mitigation Strategies

• Intense scrutiny of information security program by executive leadership and Board.
• Innovation partnership with the University of Connecticut Cybersecurity Center.
• Active engagement with trade associations and working groups.
• Continuous testing of controls through internal and independent assessments.
• PCI compliance.
• Families That Work program.
• Flexible work arrangements (reduced hours, compressed work weeks, flextime, job sharing, telecommuting, remote work).
• Work at Home Program for customer service representatives.
• Health 360 program for employee well-being.

Supply Chain Management

Responsible Procurement

• Supplier diversity initiatives.

Climate-Related Risks & Opportunities

Awards & Recognition

• Fortune 100 Best Companies to Work For
• Forbes Best Employers for Diversity
• Military Times Best for Vets Employer
• Disability Solutions World of Opportunities Innovator Award

Environmental Metrics

ESG Focus Areas

• Fair lending
• Responsible marketing
• Financial inclusion and access
• Data privacy and information security
• Human capital management (including diversity and inclusion)
• Community investment
• Environmental sustainability
• Climate change

Environmental Achievements

• Reduced global annual baseline greenhouse gas emissions by more than 5,640 tons through ENERGY STAR and LEED certifications.
• Reduced carbon dioxide emissions by approximately 37 metric tons through increased EV charging stations (and nearly 4,750 metric tons factoring in reduced commuting emissions).
• Reduced natural gas consumption by 23% at the Kettering facility, cutting annual CO2 emissions by over 300 tons.
• Reduced paper waste by over 14 metric tons and over 286,000 pounds of CO2 emissions through a 13% reduction in copier paper consumption.
• Reduced water usage by nearly 55% (1,320,000 gallons/year) at the Charlotte facility through a closed irrigation system.
• Recycled over 13,400 pounds of waste oil into usable biodiesel, reducing greenhouse gases by over 43,000 pounds.

Social Achievements

• #44 ranking on Fortune’s 100 Best Companies to Work For® list.
• #47 ranking on Forbes’ annual Just 100 list of America’s best corporate citizens.
• Expanded Native American Network+ (NAN+) to four major sites.
• Total employee engagement in eight diversity networks reached over 10,000.
• Hosted Girls Who Code Summer Immersion Program at three sites.
• Donated $1.5 million to national hunger relief non-profits.
• Donated $3.5 million to local communities and organizations.
• Launched an employee giving program with a 2:1 match.
• Increased paid parental leave to 12 weeks and backup care to 10 days.
• Increased lifetime maximum fertility benefit to $30,000.
• Improved supplier diversity approach, including creating KPIs and a supplier diversity council.
• Enhanced new product implementation process with a new product risk assessment template.
• Provided over $10 million towards helping families in need and local communities.
• Over 6,500 unique Synchrony employees volunteered over 48,000 hours to 340 organizations.

Governance Achievements

• Added two new directors with expertise in healthcare and consumer sectors.
• Most diverse board of directors of any financial services company or commercial bank in the Fortune 200 (seven of 11 directors being women and/or minorities).
• Established governance policies and practices to enhance sustained value creation.
• Created a Technology Committee to leverage board’s technology expertise.
• Implemented a comprehensive new product implementation (NPI) process with robust governance framework.
• Enhanced NPI process by adding a new product risk assessment template.
• Implemented a strong, centrally managed process for handling consumer complaints.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions (implied due to the COVID-19 pandemic response section)

Mitigation Strategies

• Enabled work from home for the majority of workforce.
• Enhanced cleaning protocols and other precautionary measures.
• Engaged an infectious disease expert to brief employees.
• Supplemented employee benefits (expanded backup childcare, flexible time off, meal vouchers, virtual doctor visits, one-time cash award).
• Worked with vendors to ensure contractor pay through at least April 30, 2020.
• Provided uninterrupted customer service through digital tools.
• Offered customers assistance with fees and credit line increases.
• Committed $5 million to help impacted communities.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier diversity initiatives
• Training for supplier employees on fair lending and other regulations

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ENERGY STAR, LEED

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Fortune 100 Best Companies to Work For®, Best Workplaces for Diversity, Best Workplaces in Financial Services & Insurance, Best Companies to Work for in New York
• Forbes JUST Capital—America’s Most Just Companies, Best Employers for Diversity, Best Employers for Women
• Many other awards listed on page 17 of the report

Environmental Metrics

ESG Focus Areas

• Fair lending
• Responsible marketing
• Financial inclusion and access
• Data privacy and information security
• Human capital management (including diversity and inclusion)
• Community investment

Environmental Achievements

• Reduced water usage intensity by more than 30% from 2018 to 2020
• Reduced global annual baseline GHG emissions by more than 9,414 tons by meeting ENERGY STAR and LEED standards
• Achieved 100% printer toner recycling level
• Reduced paper waste by eliminating over 400 million envelopes from statement packages

Social Achievements

• Ranked #44 on Fortune’s 100 Best Companies to Work For® list
• Ranked #20 on Forbes’ annual JUST 100 list of America’s best corporate citizens
• Successfully transitioned nearly all U.S. employees to a work-from-home model within two weeks
• Launched Synchrony 360, a holistic array of benefits focused on total well-being
• Enhanced benefits programs by over $18 million in response to the pandemic and social injustice issues
• Launched Advancing Diverse Talent (ADT) initiative to focus on internal diversity pipeline
• Committed $5 million over five years to organizations working to bring about social justice and combat systemic racism

Governance Achievements

• One of the most diverse Boards of Directors of any financial services company or commercial bank in the Fortune 200 (seven of 12 directors being women and/or minorities)
• Established governance policies and practices that enhance sustained value creation for stockholders
• Adopted ESG and corporate culture, including diversity and inclusion, as a component of the annual incentive plan for executives

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and its impact on employees, operations, partners, and customers
• Social injustice and racial inequity
• Transition to a fully remote workforce
• Maintaining data security in a remote work environment
• Addressing consumer complaints effectively
• Maintaining compliance with evolving data privacy regulations

Mitigation Strategies

• Implemented a nearly 100% work-from-home model
• Launched Synchrony 360 to support employee well-being
• Enhanced benefits programs
• Strengthened data security measures
• Introduced a robust root cause analysis process for complaint monitoring
• Established a Consumer Rights Program (CRP) to address data privacy concerns

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct
• Supplier diversity initiatives

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SASB

Certifications: ENERGY STAR, LEED

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Fortune 100 Best Companies to Work For
• Forbes JUST 100
• Fortune Best Places to Work for Diversity
• Forbes Best Employers for Diversity
• Great Place to Work Best Workplaces for Diversity
• Numerous other national diversity rankings

Environmental Metrics

ESG Focus Areas

• Fair lending
• Responsible marketing
• Financial inclusion and access
• Information security and data privacy
• Human capital management (including equity, diversity, and inclusion)
• Community investment

Environmental Achievements

• Reduced paper usage by over 1.4 million pounds compared to 2020, saving over 12,000 trees.
• Over 53% of customers received paperless statements by the end of 2021 (compared to 33% in 2018).

Social Achievements

• Ranked #37 on Fortune’s 100 Best Companies to Work For® list.
• Ranked #54 on JUST Capital's annual JUST 100 list.
• Increased representation of Blacks and Hispanics at the Vice President+ level in the United States and increased the number of females in executive-level roles globally.
• Raised starting hourly wage to $20 per hour, impacting over 5,000 employees.
• Launched Education as an Equalizer initiative with a $50 million pledge over five years.
• 93% employee engagement score in Great Place to Work® survey.

Governance Achievements

• Added four new directors since 2019, adding expertise in healthcare, digital, technology, consumer sector, and risk management.
• Seven of 12 directors are women and/or minorities.
• ESG and corporate culture, including ED&I, were components of the 2021 annual incentive plan for executives.

Climate Goals & Targets

Environmental Challenges

• Reducing environmental impact of plastic credit cards.
• Understanding the interplay between reduced commuting emissions and increased home energy use.

Mitigation Strategies

• Working with suppliers to transition to recycled, recyclable, and/or biodegradable credit cards.
• Developing innovations to enable digital-only cards.
• Ongoing research and analysis of home energy use vs. reduced commuting emissions.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct with ED&I expectations.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SASB

Certifications: LEED, ENERGY STAR

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Digital-only credit cards

Awards & Recognition

• Fortune 100 Best Companies to Work For, Fortune Best Workplaces for Women, Fortune Best Workplaces in New York, Best Workplaces in Financial Services & Insurance, JUST Capital rankings, Forbes rankings, Seramount rankings, CIO 100, Fast Company Most Innovative Companies, Disability Equality Index 100% score, Best Places to Work for LGBTQ Equality 100% score, Military Times Best for Vets Employer, Hispanic Network Magazine Best of the Best, BenchmarkPortal awards, Great Place to Work awards (Philippines, India), The Economic Times Top 100 Best Companies to Work For (India), ALPFA Philanthropist of the Year Award

Environmental Metrics

ESG Focus Areas

• Fair lending
• Responsible marketing
• Financial inclusion and access
• Information security and data privacy
• Human capital management (including equity, diversity, inclusion, and citizenship)
• Community investment

Environmental Achievements

• 20% reduction in energy use per rooftop unit at Altamonte Springs hub after 2021 upgrades
• Thousands of gallons of water reused yearly through stormwater management systems in Altamonte Springs and Charlotte hubs
• Over 9 million fewer sheets of paper mailed in 2022 than in 2018 (over 10% reduction)
• Over 162 million fewer paper statements printed and mailed in 2022 than in 2018
• Recycled over 10,000 pieces of electronic equipment totaling over 145,000 pounds of recycled material in 2022
• Air travel emissions in 2022 remained approximately 65% below 2019 pre-pandemic levels

Social Achievements

• Increased focus on Black and Hispanic employee representation at all levels
• Inclusion of diverse firms in capital markets transactions, earning approximately 14% of debt fees and 22% of share repurchase commissions in 2022
• 31% increase in diverse supplier spend from 2021 to 2022
• Launched a program to encourage suppliers to engage diverse suppliers
• Initiated a supplier development program to prepare diverse suppliers
• Streamlined internal data collection and validation procedures for supplier diversity
• Over 91% of employees felt they received constructive feedback from their manager during performance discussions
• 94% of employees globally believe Synchrony is a great place to work (August 2022 survey)
• Expanded maternity leave to 22 weeks (10 weeks for birth parent, 12 weeks paid parental leave for all parents)
• Offered family sustaining wages for all employees
• $1,500 performance plus bonus for full-time, frontline hourly associates in US contact centers (highest ever payout)

Governance Achievements

• Routine evaluation of Board and Board committee composition and leadership
• Added four new directors since 2019, adding experience in healthcare, digital, technology, consumer sector, and risk management
• Five of ten directors are women and/or minorities; nine of ten directors are independent
• ESG factors considered in strategic plans and imperatives
• ESG factors incorporated into annual incentive plan for executives (over 4,500 employees)

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions (implied)
• Economic uncertainty
• Evolving cyber security threats
• Climate-related risks (mentioned but not specified)
• Data limitations and measurement uncertainties

Mitigation Strategies

• Strengthened supplier risk assessment processes
• Enhanced data breach response requirements for critical supplier relationships
• Continuous review and adaptation of information security policies and practices
• Regular penetration tests, application code reviews, vulnerability scans, disaster recovery tests, and cyber exercises
• Improved data collection and methodologies for ESG reporting

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct
• Monitoring suppliers' ESG practices
• Preference for suppliers with sustainability certifications and diverse ownership

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather, weather events

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SASB

Certifications: LEED, ENERGY STAR

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Digital-only credit cards

Awards & Recognition

• #20 on Fortune’s 100 Best Companies to Work For® (2023)
• #7 on Fortune’s Best Workplaces in Financial Services & Insurance™ list
• #23 on PEOPLE’s Companies that Care list
• #77 on JUST Capital's JUST 100 list
• 'AA' ESG Rating from MSCI

Environmental Metrics

ESG Focus Areas

• Fair lending
• Responsible marketing
• Financial inclusion and access
• Information security and data privacy
• Human capital management (including equity, diversity, inclusion, and citizenship)
• Community investment

Environmental Achievements

• Upgraded over 1,000 lighting fixtures in Stamford hub to energy-efficient LEDs, resulting in estimated annual energy savings equivalent to reforesting 31 acres of trees.
• Reduced paper mailed to customers by nearly four million sheets compared to 2018 (over 4% reduction).
• Over 56% of customers received paperless statements in 2023 (compared to 32% in 2018).

Social Achievements

• Increased diverse supplier spend by 95% in 2023 compared to 2022.
• Launched the Veterans Leadership Program, a skills training program for transitioning military veterans.
• Introduced enhanced leadership expectations aligned to company values.
• 95% of employees say Synchrony is a great place to work.
• Increased minimum wage to $21 per hour for all hourly US employees (effective March 1, 2024).

Governance Achievements

• Maintained a ‘AA’ ESG Rating from MSCI.
• Updated Ombuds program to incorporate an independent vendor (Q2 2024).
• Strengthened governance across all functions in first and second lines of defense.

Climate Goals & Targets

Environmental Challenges

• Rapidly evolving landscape of cybersecurity threats.
• Maintaining pay equity and ensuring no statistical difference in pay for employees across all genders globally and across all racial/ethnic groups in the United States.
• Addressing climate change and environmental stewardship.

Mitigation Strategies

• Information security program aligned with Cyber Risk Institute (CRI) Profile and NIST CSF.
• Regularly reviews pay equity with an independent third party.
• Earth Week campaign to engage employees with sustainability initiatives.

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct
• Encouraging Tier 1 suppliers to engage diverse Tier 2 suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB

Sustainable Products & Innovation

• Transitioning to recycled, recyclable, and/or biodegradable credit cards
• Promoting digital-only cards

Awards & Recognition

• #5 on Fortune’s 100 Best Companies to Work For® list in 2024
• #4 on Fortune’s Best Workplaces in Financial Services & InsuranceTM list
• #29 on PEOPLE’s Companies that Care list
• #48 on JUST Capital's annual list of America’s Most JUST Companies