At a Glance
Financial Services and Insurance
Data Analysis, Engagement and Behavior Change, Goals/Targets, Supply Chain, Sustainability and Energy Management Strategy
Annual CO2 Reductions:
8,681 metric tons
Jeff Meltzer worked with Citizens Bank to propose targets and action plans to reduce the bank’s environmental footprint and to create a sustainable supply chain framework.
Citizens Bank, the 14th largest bank in the U.S., enlisted EDF Climate Corps fellow Jeff Meltzer to help create both public and internal targets and action plans across the its six key environmental impact areas: GHG emissions, energy, water, waste/recycling, paper, and business travel. Citizens was also interested in creating a holistic framework that could measure the footprint of its supply chain, inform decision-making moving forward and enable progress on its sustainability work to be shared publicly.
To develop environmental targets, Meltzer performed a benchmarking analysis of 21 varying financial institutions, validated the company’s carbon footprint since 2016 and evaluated potential reduction and procurement goals to adopt. After connecting with key stakeholders across the company, he presented a list of unique action items including:
- HVAC replacements, LED retrofits, and renewable energy procurement
- Performing waste audits and educating colleagues on waste reduction practices
- Digitizing and reevaluating business practices as it relates to paper usage
Turning his attention to the supply chain sustainability framework, Jeff evaluated programs at 18 other financial institutions, studied the work of various leading organizations in this space, spoke with members of the Procurement and Sourcing teams, and proposed a code of conduct on which Citizens could center its program.
If Citizens meets the proposed 2025 targets, it has the potential to reduce annual CO2e emissions by more than 8,700 metric tons, reduce annual energy usage by 20,300 MWh, save over 6 million gallons of water annually, reduce annual waste by 236 metric tons, save 193 tons of paper annually, and save nearly $2.5 million in total annual costs. These targets are intended to demonstrate Citizen’s commitment to sustainability, by inspiring internal stakeholders while holding them accountable.
The supply chain sustainability framework has the potential to pre-empt regulatory and stakeholder demands and eventually drive short- and long-term business and environmental benefits. Those benefits include enhanced reputation, supply chain resilience, emissions reductions, and new marketing opportunities.