AmEx Pledges Net Zero by 2035, Pushes Suppliers to Set Targets

(Bloomberg) -- American Express Co. committed to reach net-zero greenhouse-gas emissions by 2035 and said it will encourage its top suppliers to set targets of their own.

The credit-card giant already reached carbon neutrality across its own operations, and has been powered entirely by renewable energy since 2018, it said in a statement Tuesday. Now, the New York-based firm will ask its outside vendors to track and reduce their own emissions as part of the bigger pledge. 

“Climate change is one of the most pressing issues we face right now, and we are seeing the devastating impacts around the world that remind us that we have a responsibility to take decisive action,” AmEx Chief Executive Officer Stephen Squeri said in the statement. 

AmEx is joining a chorus of companies including Citigroup Inc. and Visa Inc. in vowing to achieve net-zero greenhouse gas emissions in coming decades. Investors and customers are increasingly pushing for corporations to mitigate their impact on the environment.

AmEx also announced it will support the Task Force on Climate-Related Financial Disclosures, which is intended to help companies report climate-related risks. The task force’s chairman is Michael Bloomberg, founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.

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