Daily CSR
Daily CSR

Daily CSR
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Bread Financial's 2022 Report: Achievements in ESG, Consumer Wellness, and Community Impact


Introducing Bread Financial's (NYSE: BFH) latest achievement! Today, this innovative financial services company unveils its highly anticipated 2022 Environmental, Social and Governance (ESG) Performance Report. Prepare to be impressed by the remarkable strides Bread Financial has made with its enhanced ESG strategy and framework.
This year's report is a momentous occasion as it marks a decade of unparalleled transparency and accountability for Bread Financial. As pioneers in public ESG reporting, they have consistently raised the bar for responsible business practices.
Delving into the report, you'll discover Bread Financial's outstanding ESG performance in five crucial areas: responsible business management, empowering customers, engaging associates, environmental preservation, and fostering thriving communities. But that's not all—2022 saw the company take things up a notch by fostering cross-functional collaboration and incorporating environmental and social criteria throughout their business model.
Bread Financial's commitment to a sustainable future shines through every page of this report. Join them in celebrating a decade of progress and discover the limitless possibilities they're creating for a better tomorrow.

“I am extremely proud of the progress Bread Financial has made to advance our ESG initiatives, as illustrated in our 2022 report,” said Ralph Andretta, president and chief executive officer, Bread Financial.
“By integrating environmental stewardship, social responsibility and good governance practices into our business strategy, we are not only driving financial performance, but also creating a more resilient, competitive organization that benefits all of our stakeholders. As we continue to evolve as a purpose-driven financial services company, our well-established ESG practices enable us to reduce risks, deliver responsible growth, and ensures we hold ourselves accountable to the ever-changing needs of our society and planet.”

Experience the transformative journey of Bread Financial in 2022 as they advanced their ESG principles to harmonize with their business objectives and governance strategy. Here are some notable highlights that exemplify their commitment:
Integrating Environmental and Social Criteria: Bread Financial placed paramount importance on incorporating environmental and social criteria into their enterprise risk management program. By developing a robust ESG risk framework, they ensured that sustainability considerations are at the core of their decision-making processes.
Pioneering Climate Action: Demonstrating their proactive approach, Bread Financial accomplished all the objectives outlined in their 2022 Climate Action Roadmap. This included conducting a comprehensive energy audit of their facilities, conducting a thorough climate risk assessment, and engaging in scenario analysis to effectively address climate-related challenges.
Board Education on ESG Best Practices: Recognizing the significance of ESG reporting and investor expectations, Bread Financial hosted an enlightening education session for its esteemed Board of Directors. The session focused on imparting knowledge about ESG best practices, reporting frameworks, and the evolving expectations from investors, ensuring the company stays ahead of the curve.
Revamping Community Investment Strategy: Aligning their community investment strategy with their brand transformation, Bread Financial redefined their approach. By embracing a renewed vision, they aim to maximize positive impact and create lasting value in the communities they serve.
Through these strategic actions, Bread Financial has set new standards for sustainable business practices, cementing their position as a leader in the industry. Witness their remarkable journey unfold as they continue to drive positive change and redefine what it means to be a socially and environmentally responsible company.
“Together with our Board of Directors, the Bread Financial leadership team and all associates, we are accelerating our ESG ambitions and deepening our commitment to responsible business practices,” said Dana Beckman, head of sustainability, Bread Financial.
“2022 was a year about solidifying the integration of ESG into our key business imperatives, governance and operations. As we look forward to communicating our continued progress, we will shift our focus to creating even more long-term value and opportunity for our many stakeholders.”

Dive into the details of their actions and impact across key focus areas:
  • Responsible Business Practices: Bread Financial took great strides in fostering responsible business practices. Through their enhanced supplier diversity program, they ensured that minority-owned and small businesses were given due consideration in every vendor request for proposal. In 2022, their commitment translated into an impressive 6% of diverse and minority-owned supplier spend. 
  • Consumer Financial Wellness: Committed to promoting consumer financial wellness, Bread Financial established an internal cross-functional task force. They also partnered with industry expert Financial Health Network to develop a holistic, consumer-focused financial health strategy. By investing in these initiatives, they aim to empower individuals and contribute to their overall well-being. 
  • Frictionless Customer Experiences: Bread Financial recognized the importance of seamless customer experiences. That's why they made incremental investments exceeding $125 million in innovation, tech modernization, and product development. Their goal is to create a customer journey that is effortless and enriching. 
  • Associate Engagement: Prioritizing the well-being of their associates, Bread Financial launched a mental wellness resource. This comprehensive program offers a range of support, including free therapy, 24/7 crisis support, coaching, and personalized assistance. By nurturing their team, they foster a culture of care and support. 
  • Environmental Protection: Bread Financial's commitment to protecting the planet is unwavering. They embarked on a valuable third-party partnership to evaluate low carbon solutions, with the aim of reducing greenhouse gas (GHG) emissions. Additionally, a comprehensive energy audit was conducted to quantify energy consumption across their sites, ensuring responsible resource management. 
  • Community Empowerment: In their dedication to creating possibilities for communities, Bread Financial invested over $9 million in various community initiatives. They also matched nearly $950,000 in associate community investment gifts, further amplifying the impact. Moreover, their associates contributed over 3,700 volunteer hours, demonstrating their collective commitment to making a positive difference.
Notably, the 2022 report signifies an important milestone as Bread Financial aligned their ESG disclosures with the Task Force on Climate-related Financial Disclosures (TCFD). This move enhances and expands their reporting on climate-related risks and exposures. In addition to the TCFD, Bread Financial adhered to other renowned ESG reporting frameworks and standards, including the Sustainability Accounting Standards Board (SASB) Consumer Finance Standard and the Global Reporting Initiative (GRI). By adopting these industry-leading practices, they ensure comprehensive and transparent reporting.
Prepare to be inspired as Bread Financial's report reveals a trailblazing journey of responsible business practices, transformative customer experiences, environmental stewardship, and impactful community initiatives. Join them in celebrating a year of extraordinary achievements and a future defined by sustainable growth.