BROOKFIELD, Wis.–Fiserv has released its 2021 Corporate Social Responsibility (CSR) Report, which it said outlines its “proactive approach to empower people, advance communities, champion responsible business practices and invest in sustainable systems to create positive outcomes.”
According to the company, the 2021 report aligns with the Sustainability Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) reporting standards and highlights accomplishments within four Environmental, Social, and Governance (ESG) pillars.
“Our approach to corporate social responsibility reflects our global presence and is embedded in how we deliver solutions and services every day as part of the fabric of people’s financial lives,” said Neil Wilcox, head of Corporate Social Responsibility at Fiserv. “We are advancing our CSR programs and ESG reporting, and encouraging associate engagement as we look to move our communities and society forward in meaningful and impactful ways.”
Below are the various ways the company said it promotes social responsibility.
Empowering People
Fiserv said diversity and inclusion is essential to creating an innovative and inclusive work environment at the company. Of its U.S. workforce, 34% is diverse in race or ethnicity, a rise of 2% year over year. Fiserv senior leadership is comprised of 28% women in the U.S. and 27% globally, while 18% of U.S. leadership is diverse in race or ethnicity, a 4% rise year over year.
“Fiserv has established strong partnerships with historically Black colleges and universities as well as the National Black MBA Association, creating a pipeline of diverse candidates for future finance roles,” the company said, adding it was awarded the organization’s 2021 Silver Torch award in recognition of efforts to promote equal opportunities for minority professionals.
Fiserv further noted it also actively welcomes veterans into its workforce via its military community engagement programming, Fiserv Salutes, and received numerous recognitions in 2021, including ranking on the Forbes Best Employers for Veterans list.
The Fiserv Cares Fund provided charitable grants to associates who experienced hardships due to qualified disasters, as well as to charitable organizations in the communities where Fiserv associates live and work, the company added.
Advancing Communities and Society
“Fiserv believes its platform and global reach can create positive change in the communities in which it operates,” the company said. “In 2021, the Fiserv Back2Business initiative, which initially committed $10 million to support minority-owned small businesses negatively impacted by the pandemic, was increased to $50 million. To date, Back2Business has provided more than 1,400 $10,000 grants in the U.S. and U.K.”
Beyond Back2Business, Fiserv philanthropic donations totaled over $6 million to more than 180 organizations globally. During the company’s Season of Giving campaign, associates, along with a corporate match, donated almost $600,000 to over 1,200 community groups and volunteered more than 3,500 hours. Utilizing the Fiserv Gives Back portal, associates donated nearly $1 million and more than 8,000 volunteer hours to over 2,000 causes.
Fiserv said it also partners with a number of philanthropic organizations and community groups to deliver programs designed to support small businesses. In partnership with the Institute for Veterans and Military Families (IVMF) at Syracuse University, Fiserv is a founding member of the Coalition for Veteran Owned Business (CVOB), a first-of-its-kind national initiative to support the success of businesses owned by veterans, service members and military spouses.
Championing Responsible Business Practices
“Underscoring the importance of ESG to business, the Fiserv board of directors amended its nominating and corporate governance committee charter to formalize the committee’s oversight of ESG programs, policies, disclosures and reporting, and responsibility for identifying, evaluating and monitoring ESG-related trends, opportunities and risks that may materially affect the company,” Fiserv stated. “Additionally, the talent and compensation committee is responsible for overseeing human capital strategy, including with respect to diversity, equity and inclusion, talent engagement and culture.
“It is paramount for Fiserv and its associates to operate in an ethical manner to best serve its clients, communities, partners and fellow associates,” the company continued. “All associates are required to participate in anti-bribery and anti-corruption training, and Fiserv is opposed to labor abuses as laid out in its Modern Slavery Statement.”
Investing in Sustainable Systems
According to Fiserv, efforts to reduce energy consumption and greenhouse gas (GHG) emissions continued. In 2021, Fiserv expanded Scope 3 GHG emissions reporting to include categories beyond business travel.
“In 2021, 250,000 short tons of paper was recycled, resulting in nearly 375,000 lbs. of CO2 emissions avoided, 1.3 million cubic yards of landfill space conserved, 4.3 million trees preserved, 7.1 million gallons of water saved, and over 585 million kWh of energy conserved,” Fiserv said, adding it has made progress in reducing its emissions footprint by eliminating redundant operations in data centers and exiting real estate space.
To date, more than 30 data centers have been consolidated, it said.
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