In honor of Earth Month, American Express today announced new initiatives to support low-carbon communities, including the expansion of its Carbon Footprint Tool for select Corporate clients and a digital pilot to help U.S. Consumer and Small Business Card Members understand their estimated carbon footprint. The company is also bringing back “Shop with Purpose” Amex Offers for eligible Card Members during Earth Month and continues to provide Green2Gether volunteer activities for colleagues.
American Express has also submitted near-term and long-term emissions reductions targets to the Science Based Targets initiative (SBTi) for validation by year end as part of the company’s commitment to net-zero emissions by 2035 in alignment with the SBTi. [1]
“This Earth Month, we’re introducing new digital solutions that enable our U.S. Consumer and Small Business Card Members and select Corporate clients to better understand their estimated carbon footprints and work towards a low-carbon future,” said Madge Thomas, Head of Corporate Sustainability and President of American Express Foundation. “These initiatives build on our commitment to advance climate solutions for our colleagues, customers and communities.”
Expanded Carbon Offerings for Corporate Clients
American Express’ Carbon Footprint Tool has expanded to include additional categories of spend for select Corporate clients so that they can track estimated carbon emissions associated with spend across air travel, ground transportation, hotel stays, food and beverage, and retail. The Carbon Footprint Tool applies conversion factors and standards from various governmental and private organizations to a company’s spend on its American Express Corporate Product Program. The Tool can be accessed when clients log in to Commercial Insights, a suite of tools offered to American Express’ largest Corporate clients.[2]
The Carbon Footprint Tool joins the Corporate Carbon Offset Referral Suite, which provides U.S. Corporate clients with a list of carbon offset providers curated by American Express. Participating companies may elect to work with such provider(s) to purchase carbon offsets through investments in large-scale carbon projects, which can help them manage their estimated carbon footprint.
A New Pilot Experience for Card Members
To help eligible U.S. Consumer and Small Business Card Members better understand their environmental impact and contribute to carbon removal efforts, American Express has launched a pilot digital suite that offers the following tools:
- Amex Estimated Carbon Emissions Tracker: Developed in collaboration with the CoolClimate Network at University of California, Berkeley, the tool analyzes the spend made on an eligible American Express Card and estimates carbon emissions associated with those purchases. [3]
- Contribution Services for Carbon Removal Projects: Eligible U.S. Card Members can set up automatic monthly contributions from $5 to $100 a month [4] via program partner Cloverly. These contributions are used to support a portfolio of carbon removal projects that also support local communities, which have been selected with the help of our program partner Carbon Direct.
- Carbon Reduction Insights: Tips and advice from Carbon Direct for informational purposes are available to Card Members to learn about ways to reduce the carbon impact of their day-to-day activities.
Shop with Purpose Amex Offers
For the second year in a row, American Express will have a selection of “Shop with Purpose” Amex Offers available throughout Earth Month to eligible U.S. Consumer and Small Business Card Members. These Offers reward spending on eligible purchases from select Certified B Corporations™, such as Stumptown Coffee Roasters and Hive Brands, and Climate Neutral Certified companies like Avocado Mattress and Parachute.
Engaging Colleagues for Earth Month
As part of the company’s Green2Gether program, American Express colleagues all over the world can volunteer and participate in colleague-led sustainability initiatives this month. Activities include volunteering with nonprofit partners, waste, and energy reduction efforts, and healthy food initiatives. Last month, colleagues from our Phoenix office volunteered with nonprofit partners to plant 45 trees at the Rio Salado Habitat Restoration Area to increase tree canopy and help their city build resilience to climate-related events.
Photo Courtesy: American Express
In addition, the company will offer a second series of the Climate Change Master Class, co-hosted with Earthwatch. The four-part, interactive series is voluntary and will be available virtually to all colleagues globally. The classes, led by Earthwatch scientists, will provide insights into the impacts of climate change and the actions participants can take to reduce its effects on their personal lives.
To learn more about American Express’ approach to Corporate Sustainability to support colleagues, customers and communities, visit the company’s Corporate Sustainability website.
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ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products, services and corporate sustainability information: personal cards, business cards and services, travel services, gift cards, prepaid cards, merchant services, Accertify, Kabbage, Resy, corporate card, business travel, diversity and inclusion, corporate sustainability and Environmental, Social, and Governance reports.
(1) American Express submitted near and long-term company-wide emissions reductions targets in line with the SBTi Corporate Manual, Version 2.0, December 2021 and SBTi Corporate Net Zero Standard, Version 1.0, October 2021, respectively.
(2) The estimated information provided by the Carbon Footprint Dashboard is for generalized informational purposes only and does not constitute financial, tax, accounting, legal or other professional advice on any subject matter.
(3) American Express Card Members who have a primary U.S. Consumer or Small Business Basic Card have access to the Estimated Carbon Emissions Tracker and may connect any eligible Card to the tracker. Holders of Additional Cards, Corporate Cards and American Express® Cards issued outside the United States are not eligible at this time. The information provided by the Estimated Carbon Emissions Tracker is for generalized informational purposes only and does not constitute financial, tax, accounting, legal or other professional advice on any subject matter. For full terms of service and information about the methodology used by the Estimated Carbon Emissions Tracker, please visit https://www.americanexpress.com/en-us/benefits/carbon/?intlink=us_benefits_types_carbon.
(4) Eligible Card Members can sign up to make automatically recurring monthly contributions to select carbon removal projects in an amount that they choose, from $5 to $100 a month. Payments will continue to be made in the amount chosen until a user cancels or changes the amount of future payments. Users may cancel or change the amount of future payments at any time through their American Express Online Account at https://www.americanexpress.com/en-us/benefits/carbon/profile and may contact us using the telephone number on the back of their Card if they need assistance. Contributions made are not charitable contributions. The payments will be made to Cloverly, Inc., a third party that will apply such payments (net of fees and charges) to retire carbon credits issued to certain for-profit carbon removal projects. American Express, Cloverly, and the organizations sponsoring carbon removal projects are not charities and receive financial benefits from payments made. American Express does not own, control, or manage the carbon removal projects and cannot guaranty that such projects will operate as anticipated or yield any particular results or that retired carbon credits represent a unique quantity of atmospheric carbon reduced by the relevant project. Eligible Card Members are American Express Card Members who have an active US Basic Consumer or Business Credit Card issued by American Express National Bank. For complete terms of service and information about the projects, please visit https://www.americanexpress.com/en-us/benefits/carbon/.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which are subject to risks and uncertainties. The forward-looking statements, including the company’s aspirational corporate sustainability commitments and targets, contain words such as “expect,” “anticipate,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” “commit,” “hope,” “continue,” or other similar expressions. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including: the amount and efficacy of investments in product innovations, resources, marketing campaigns and programs; changing customer behaviors, interest in the company’s products, resources and programs; management’s inability to identify suitable suppliers, partners and community investments and negotiate acceptable terms; an inability to build partnerships and execute programs with other companies and of partners to meet their obligations to the company; changes in developing standards and certifications; the cost and availability of renewable energy, carbon removal and carbon offset projects and energy attribute certificates; regulation; changes in the company’s colleague and community engagement strategies; and changes in economic or business conditions. A further description of these and other risks and uncertainties can be found in the company’s 2021-2022 Environmental, Social and Governance Report and the company’s filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update or revise any forward-looking statements.
Media Contact:
Ashley Tufts-Freimuth
ashley.tufts@aexp.com