2019 Highlights & Overview

At MUFG, Corporate Social Responsibility is deeply ingrained into every aspect of our business. Through our lending practices and our work in the areas we serve, we seek to be a catalyst for positive change.

The 2019 Corporate Social Responsibility (CSR) Report underscores the priorities and the responsibilities that we, as a corporate citizen, take very seriously. The past year was a difficult one for our communities, colleagues, and clients, closing out with a global pandemic that revealed the importance of utilizing on-the-ground efforts and collaborations with our partners to make impact that will last. When the pandemic took hold in early 2020, we committed $3 million to support immediate needs in the communities we serve throughout the Americas. In the face of adversity, MUFG chose to re-examine our role in society today, and ask ourselves where we can continue to be a part of the solution, and where we can do better with more bold and innovative ideas. This report encapsulates efforts of MUFG throughout the Americas, and also highlights the work that takes place through our retail operation, Union Bank.

Despite the headwinds our global economy experienced in FY2019, we forged ahead with community reinvestment commitments long in place before the start of our 2019 fiscal year.  For example, the MUFG Foundation completed its three-year, $3.5 million commitment to help address the West Coast affordable housing shortage. Furthermore, we are on track to meet all eight goals in our 2016-2020 Community Service Action Plan, including committing $100 million to support economic development in low to moderate-income communities and $85 million in philanthropic grants and investments, and ensuring 15% of total bank spending goes to Diverse Business Enterprises.

As we move into the next year, we are looking for ways to support our clients and communities more holistically. Banks play a central role in in the prosperity and health of communities, and therefore we have the responsibility and obligation to bring about lasting change. At MUFG, we are proud to continue to give back, and never cease to seek out new ways to do so.

Steve Cummings
Chief Executive Officer
MUFG The Americas

Greg Seibly
President
Union Bank

Community Reinvestment
In January 2020, the MUFG Foundation completed its three-year, $3.5 million commitment to address the West Coast affordable housing shortage. Over the course of the commitment, Union Bank donated funds to nearly 60 organizations. This included a commitment of $275,000 in December 2019 to help fund the LA-based Housing Development Training Institute (HDTI), a part of Local Initiatives Support Corporation (LISC). The grant is being used for a training curriculum to develop and equip the next generation of affordable housing project managers. We are dedicated to strengthening communities across our footprint, and the completion of this commitment marks just one of the many ways we are following through on promises to our neighbors.

Environmental Stewardship
MUFG Americas is proud to have completed our five-year environmental finance goal in December 2019 —contributing $28.1 billion, including $9.7 billion in 2019, to projects that promote clean energy infrastructures and conserve natural resources.

In addition, as of July 1, 2019, MUFG Americas will not provide financing for new coal-fired power generation projects, in line with MUFG’s statement, which has committed to gradually reducing the balance of our exposure to coal-fired generation projects in the medium to long term. In tandem with this commitment, for more than a decade we have been growing our renewable energy project financing through partnerships with companies like Avangrid, a leading, sustainable energy company working to deliver a more accessible clean energy model that promotes healthier, more sustainable communities.

Our People
Our commitment to Inclusion & Diversity starts at the very top and is strongly supported throughout the company. We continue to strive to make improvements in this area, as we know an inclusive and diverse workforce leads to better work environments for our colleagues and better outcomes for our clients. This year, we set out to increase diverse representation at leadership levels, and we are implementing a new structure, accompanied by a video and article to outline the approach to internal stakeholders.

Union Bank was honored this year to be recognized by a number of industry organizations, including being named a 2019 Black Equal Opportunity Employment Journal Top Employer, a top LGBT-Friendly Employer, and a DiversityInc Noteworthy Company. We also received a 100% on the Corporate Equality Index from the Human Rights Campaign, and were placed on Exelon Honor Roll for Top Financial Services Business Partners for Diversity and Inclusion.