TxN 20 Industry Highlights — Financial Services
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2022 TxN 20: Texan-led leadership in conservation for a sustainable future in Financial Services.
The Texan by Nature team is excited to present the fourth annual list of Texan by Nature 20 (TxN 20) Honorees. TxN 20 recognizes outstanding work in conservation and sustainability from Texas-based businesses.
It’s an opportunity to showcase innovation, commitment to conservation, and best practices from the industries that keep Texas running: Agriculture, Architecture, Financial Services, Food, Beverage, & Grocery, Technology, Energy, Healthcare, Municipal Services, Retail, Transportation, and Construction & Manufacturing.
Meet the 2022 TxN 20 Honorees leading sustainability in Financial Services: Comerica Bank and North American Development Bank.
The Company Investing in Environmental Progress with $1.7 Billion Loaned to Green Projects – 2022 Honoree: Comerica Bank
Who is Comerica Bank?
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. Their $1.7 billion in loans and commitments goes toward 14 green loan categories, including green building (new and retro-fit), bio-fuels, recycling, biogas, energy efficiency, vehicle electrification, brownfield redevelopment, smart grid technologies, wind energy, pollution control, solar energy, green engineering, geothermal, wave or tidal energy, other green services, and products.
Comerica’s innovative Master of Sustainability Awareness (MSA) program is a colleague education and engagement program dedicated to sustainability. Developed in-house, this program seeks to move employees from learning about sustainability to sharing what they’ve learned and then putting it into action, both at work and at home. The effects are evident, as the organization recycled or repurposed 96 tons of electronic equipment in 2021 and diverted 57% of its total waste from landfills.
Covering Carbon Offsets for Employee Flights — 2022 Honoree: North American Development Bank
Who is North American Development Bank?
North American development bank is a San Antonio-based financial services company dedicated to helping fund the environment and people of both Mexico and Texas. With nearly a 1,255-mile shared border with Mexico, Texas is an optimal location and has benefitted from the Bank’s financing programs. Of the 140 projects located in the U.S., 76 are in Texas, and of the US $1.5 billion in funding provided to projects in the U.S., just over half has gone to support projects in Texas.
Their commitment beyond our shared region extends to their purchase of carbon offsets for each flight NADBank staff takes on work-related travel. Carbon offsets are voluntary schemes whereby people pay to offset or make up for the emissions their flights produce. This means that even on the go, NADBank employees can give back to the environment.
North American Development Bank recognizes the value of conserving our natural resources. NADBank has contributed a significant impact in up to 4.2 million gallons per year by installing more than 20 miles of drinking water distribution lines, more than 5000 new or improved water connections, and installing 3.43 million gallons per day of new or improved wastewater treatment systems capacity. In addition, NADB eliminated 20.5 million gallons per day of untreated or inadequately treated wastewater discharges.
Why Forward-Thinking Leaders in Financial Services Matter
It is no secret that Texas is a national leader in industry and economy, with a GDP of 1.83 trillion dollars in 2021, rising over 3.5 percent from the previous year and taking the claim for second highest GDP in the country. To future-proof this growth, the financial service industry has the opportunity to innovate and invest in environmental sustainability. By investing in green services, and weaving conservation efforts into business strategy, we can secure a prosperous economy and rich natural resources for future generations of Texans.
How TxN20 Honorees Are Selected Each Year
To select the 2022 TxN 20 Honorees, the TxN Team evaluated submissions and conducted independent research across 2,000+ of Texas’ publicly traded and private companies in 12 key industry sectors.
All companies were evaluated on a 17-point scoring system, from which the top 60 highest-scoring companies moved on to the final round of TxN 20. A selection committee of top industry leaders and experts was then formed to evaluate the top 60 companies and select the final 20 businesses recognized as TxN 20 Honorees.
Honorable Mentions: Standouts in Sustainability
In addition to this year’s TxN 20 honorees, here are three industry standouts for best practices in conservation and sustainability coming from companies across the agriculture industry.
Industry Innovator: Allegiance Bank
- Allegiance Bank is a financial services company that prioritizes sustainable practices throughout its company. In 2021, the bank launched its Allegiance Goes Green initiative in 2021 on Earth Day’s 50th anniversary, forming a “Green Team” of 15 bankers who are passionate about environmental issues such as recycling, and reducing their carbon footprint.
- Additionally, the bank recycled over 221,000 lbs of paper, saving more than 1,885 trees.
Industry Innovator: JP Morgan Chase Bank
- JP Morgan Chase introduced a beekeeping program and installed 20 beehives at six of their corporate offices. These hives brought 750,000 bees into the communities that helped pollinate 450 different plant species over 300 square miles of land. The success of these hives will only increase as they plan to introduce more hives to more offices across the country.
- In 2021, the organization diverted 490 metric tons of solid waste from landfills.
Industry Innovator: Prosperity Bank
- Prosperity Bank is a financial services company working towards a more sustainable world by tracking sustainable efforts and their return on investment. Through all of their methods of sustainability and conservation, Prosperity Bank saved $4,276,564.03 in 2021.
- By tracking financial savings, Prosperity Bank promotes the economic benefits of incorporating sustainable practices in their industry. By investing in efficient energy, the company saved 3,190 kw of energy, equating to $255,268.88.
Get Involved:
Is your company at the forefront of sustainability in Texas? Share your work with Texan by Nature by submitting Environmental, Social, and Governance (ESG) data that showcases how your company benefits people, prosperity, and natural resources to programs@texanbynature.org.
To be considered for the official TxN 20 list, companies must:
- Have operations and employees based in Texas;
- Share a demonstrated commitment to conservation & sustainability;
- Showcase tangible efforts, impact, and data in conservation;
- NOT be a conservation-based nonprofit (501c3).