Climate Change Data

First Horizon Corporation

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:31,187 tCO2e/year (Scope 1 & 2)
Scope 1 Emissions:4,105 tCO2e/year
Scope 2 Emissions:27,082 tCO2e/year
Total Energy Consumption:89,752 MWh/year (Scope 1 & 2)

ESG Focus Areas

  • Clients
  • Associates
  • Communities
  • Environment
  • Governance

Environmental Achievements

  • 39% reduction in Scope 1 & 2 greenhouse gas emissions from 2019 baseline
  • $1.3 billion in renewable energy project financing since 2017
  • 144 efficiency enhancements in facilities and banking centers

Social Achievements

  • $183 million community development investments
  • $355 million community development loans
  • $18 million distributed to 1,600+ non-profits through First Horizon foundations
  • 27,000+ hours serving non-profit organizations, with over 15,000 CRA hours
  • 100,500+ hours of training completed during 1,772 courses
  • 83% overall favorability rating Associate Value Survey
  • 82% associate favorability rating Wellbeing Pulse Survey

Governance Achievements

  • First stakeholder assessment conducted in late 2023 with a third-party firm

Climate Goals & Targets

Environmental Challenges

  • Data availability, technology, and policy challenges in effective climate action
  • Uncertainties and complexities associated with climate change and its impacts on financial institutions in climate scenario analysis
  • Data gaps and unreliable data quality in calculating Scope 3 financed emissions
Mitigation Strategies
  • Quantifying emissions, adopting sustainable practices, aligning with the Task Force on Climate-Related Financial Disclosures (TCFD), and catalyzing nature-based solutions
  • Joining the Risk Management Association Climate Consortium to learn from larger banks’ experience with scenario analysis
  • Engaging with climate scientists and advisors to explore useful analysis for decision-making methodology
  • Monitoring the development of calculation methodologies and regulatory guidance for Scope 3 emissions

Supply Chain Management

Responsible Procurement
  • Code of Business Conduct for Suppliers

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
  • Floods
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Renewable energy project financing
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: TCFD, CDP, SASB

Awards & Recognition

  • Numerous awards listed on pages 86-87