A year after establishing our Environmental Sustainability Policy in January 2008, we have made significant strides towards implementing the policy and developing a coordinated effort across all business lines in our national footprint to establish U.S. Bank as an environmentally responsible corporate citizen.
Our Environmental Stewardship Council is comprised of senior leaders in key business lines and includes three members of the Managing Committee. Our board of directors is also engaged in sustainability issues. The Council ensures broad implementation of the policy and provides input to general sustainability issues and long-term environmental stewardship strategy. Our focus lies mainly in the areas of climate change (reducing carbon emissions), internal policies and practices, our products and services and employee engagement.
U.S. Bank established a goal to invest $1 billion in environmentally beneficial, profitable business opportunities by 2015. Already, we are well on our way toward meeting this goal. This investment has come in the form of our investments in renewable energy projects, LEED certified construction, energy effi cient upgrades in many low income housing projects and many other opportunities.
We have upgraded equipment and technology throughout our facilities and business lines to reduce our energy consumption, resulting in ongoing cost savings for the bank, as well as reduced carbon emissions.
In addition to improving our own impact on the environment, U.S. Bank is also a founding member of the PayItGreen Alliance, a coalition of financial services companies, launched in 2008 and led by NACHA — The Electronic Payments Association, formerly the National Automated Clearing House Association. PayItGreen is committed to educating customers about the benefi ts of going electronic.
A U.S. Bank focus is on employee engagement — from increased communication and education about the environment and U.S. Bank's approach to providing education and resources for employees to learn how they can make a personal difference. Employees can locate potential carpool partners online, and the bank subsidizes mass transit commuting.
With the ever increasing focus on the environment, the changing political landscape and increased expectations from our partners, customers and employees, we will never be 'done' when it comes to environmental stewardship.