Content thumbnail American Express ESG Report
AI Content Chat (Beta) logo

OUR COMMITMENT TO ESG Our priority ESG issues American Express prioritizes our ESG issues based on their relative importance to our business and to our stakeholders. We updated our priority ESG issues in 2020 by completing a comprehensive ESG materiality analysis. We collaborated with the think tank and advisory firm SustainAbility to guide our approach and we used the following methodology: 1. Current State Assessment: We conducted internal business research and external benchmarking to identify the most relevant ESG issues to our key stakeholders, industry, and company. As part of this process, we utilized an ESG big data software platform to review and integrate thousands of peer documents, regulations, and other relevant data points. Additionally, we evaluated leading ESG frameworks, including the Sustainable Accounting Standards Board (SASB), Global Reporting Initiative (GRI), the Sustainable Development Goals (SDGs), the Task Force on Climate- PRIORITY ESG ISSUES MATRIX CATEGORIES Environment Social/ Human Capital Governance/ Leadership Business Model/ Innovation Importance to business Executive compensation Responsible tax practices Waste reduction & recycling Responsible procurement Responsible investment & financing Public policy practices Board composition Responsible digitalization Anti- corruption & bribery INCREASING IMPORTANCE INCREASING IMPORTANCE Importance to stakeholders Colleague health & safety Social & environmental innovation Customer satisfaction Community resiliency Business ethics Financial resiliency Climate change, energy & GHG emissions Data privacy & security Responsible travel & consumption Inclusion & diversity Colleague attraction & retention related Financial Disclosures (TCFD) and more to inform our assessment. Outputs from the analysis were then considered to create a preliminary list of ESG issues. 2. Stakeholder Input: We utilized findings from our assessment to help guide our approach to collecting stakeholder input. Our third-party consultants interviewed more than 30 internal and external stakeholders, including the Chairman and CEO, all Executive Committee members, shareholders, customers, strategic partners, suppliers, nonprofit organizations, and others. We also conducted an ESG colleague survey across 16 business units worldwide. Further, we compiled and synthesized other ESG-related feedback received from stakeholders as part of our ongoing engagement process. Finally, we conducted an analysis of evolving expectations resulting from the global pandemic and its related impacts on our priority ESG issues. 3. ESG Issues Prioritization: Using outputs from our business analysis, benchmarking, and stakeholder engagement activities, we ranked our 20 priority ESG issues based on their relative importance to our business and their relative importance to our stakeholders. The following matrix highlights these results: INTRODUCTION PROMOTING DE&I ADVANCING CLIMATE SOLUTIONS BUILDING FINANCIAL CONFIDENCE OUR ESG GOVERNANCE & OPERATING RESPONSIBLY SUPPORTING DATA OUR COMMITMENT TO ESG 90

American Express ESG Report - Page 90 American Express ESG Report Page 89 Page 91