Climate Change Data

United Services Automobile Association (USAA)

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Water Consumption:31 million gallons saved since 2019
Waste Generated:More than 3 million pounds of paper, glass, plastic and other materials recycled

ESG Focus Areas

  • Environmental Sustainability
  • Military Community Support
  • Financial Security
  • Cybersecurity
  • Veteran Suicide Prevention

Environmental Achievements

  • Reduced freshwater consumption by 31% since 2019, saving over 31 million gallons.
  • More than 50% of all waste in offices sent to recycling facilities.
  • Largest purchaser of wind power in San Antonio, Texas.
  • Phoenix campus operates a 1.2-megawatt solar installation that generated 1.9M kilowatt hours in 2023.

Social Achievements

  • Returned almost $1.9 billion to members through distributions, dividends, and bank rebates and rewards.
  • Launched Face the Fight™ initiative to address the veteran suicide epidemic, committing $50 million and inspiring $34 million in additional commitments.
  • Supported numerous nonprofits that help individuals gain the skills and tools to improve their financial opportunity.
  • Provided emergency financial assistance and counseling to 20,000 families through TAPS.
  • USAA employees logged more than 267,000 volunteer hours and contributed more than $7 million to nonprofits (a total of $13 million with USAA matching) in 2023.

Governance Achievements

  • Maintained strong capital and liquidity, enabling the company to withstand economic pressures.
  • Implemented robust cybersecurity measures, blocking more than 700 million attacks per month and 3,200 phishing websites.
  • Regularly evaluates the effectiveness of its cybersecurity program through assessments, simulations, and testing.
  • Complies with applicable data security laws, regulatory guidance, and industry frameworks.

Climate Goals & Targets

Environmental Challenges

  • Historic catastrophes and inflationary pressures drove elevated P&C losses.
  • Government shutdowns and potential debt ceiling default.
  • Elevated interest rates, record inflation, and a banking industry crisis.
  • Deteriorating commercial real estate values.
Mitigation Strategies
  • Raised rates in both auto and homeowners’ insurance.
  • Reduced operating expenses.
  • Created no-interest loans for members potentially impacted by government shutdowns.
  • Disciplined expense management.
  • Proactively mitigated financial risk and actively managed capital and liquidity.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Wildfires
  • Floods