- Sustainability Strategy and Goals
- Progress vs. Target Tracker
- Key Sustainability Innovations and Technologies
- Measurable Impacts
- Challenges and Areas for Improvement
- Future Plans and Long-Term Goals
- Comparisons to Industry Competitors
- Card Network Sustainability: American Express vs. Competitors
- What to Watch: 12 to 18 Month Indicators
American Express, founded in 1850 and headquartered in New York, is one of the world’s largest globally integrated payments companies, and its sustainability strategy reflects both the scale of its global card network and the unique emissions profile of a financial services firm where Scope 3 value chain emissions dwarf all direct operational impacts. The company published its 2024-2025 Sustainability Disclosure in November 2025, structured under a five-pillar framework of Customers, Communities, Colleagues, Climate, and Conduct and Values, and aligned with GRI and SASB reporting standards. In August 2024, the Science Based Targets initiative validated American Express’s full net-zero target set, making it one of the few financial services companies in the world with SBTi-approved near-term, long-term, and partner engagement targets simultaneously.
Key Highlights
- SBTi validated net-zero target: net zero GHG emissions across the value chain by 2050, with targets validated in August 2024
- Near-term SBTi target: 60% absolute reduction in Scope 1 and 2 GHG emissions by 2033 from a 2019 baseline
- Near-term SBTi target: 35% absolute reduction in Scope 3 emissions by 2033 from a 2019 baseline
- Long-term SBTi target: 90% absolute reduction in Scope 1, 2, and 3 by 2050 from a 2019 baseline
- Partner engagement SBTi target: 75% of Membership Rewards redemption and cobrand partners by emissions to have science-based targets by 2028
- Total 2024 carbon footprint: approximately 1.93 billion kg CO2e; Scope 1: 21,817 tCO2e; Scope 2: 1,758 tCO2e; Scope 3: approximately 1.90 million tCO2e
- CarbonNeutral certified and powered by 100% renewable electricity for all global operations continuously since 2018
- 55% of global real estate footprint holds green building certification as of 2023
- Cards manufactured from 70% reclaimed or recycled plastic (American Express Green Card, Parley for the Oceans partnership)
- Shop Small movement: approximately $83.5 billion in estimated consumer spending at small businesses from 2021 to 2024, including $22.8 billion in 2024 alone
- $5 million Amex Shop Small Grants Program launched November 2025, awarding 250 grants of $20,000 each
- $10 million philanthropic commitment to climate action organisations through 2025
- Lowest U.S. fraud rates among all major card networks for 18 consecutive years
Source
https://www.americanexpress.com/en-us/company/corporate-sustainability/
https://ditchcarbon.com/organizations/american-express
https://www.marketscreener.com/news/2024-2025-sustainability-disclosure-11-21-2025-00-00-00-ce7d5edcd089f123
Sustainability Strategy and Goals
American Express updated its sustainability strategy in 2025, following a structured materiality assessment that incorporated impacts both on society and the environment and financial risks to the company, covering all major jurisdictions where it operates. The strategy is formally anchored in five focus areas and nine priority sustainability topics aligned with business objectives, and disclosures follow GRI, SASB/ISSB, CDP, and TCFD frameworks. American Express’s SBTi-validated targets align with the 1.5°C pathway, placing it among a relatively small group of financial services companies globally that have achieved full SBTi validation across near-term, long-term, and supply chain engagement targets simultaneously.
Net Zero and Carbon Emissions
American Express has maintained CarbonNeutral certified operations continuously since 2018 for Scope 1, Scope 2, and select Scope 3 categories (waste and employee business travel), using a combination of renewable energy credits, carbon offsets, and direct emission reductions. Total 2024 carbon footprint stands at approximately 1.93 billion kg CO2e, but operational emissions are extremely low: Scope 1 at 21,817 tCO2e and market-based Scope 2 at just 1,758 tCO2e in 2024, reflecting the near-complete renewable energy coverage of all global facilities. The dominant emissions challenge is Scope 3, which at approximately 1.90 million tCO2e in 2024 represents over 98.8% of the total footprint, with purchased goods and services alone accounting for 42% of all Scope 3 emissions.
- Scope 1 emissions 2024: 21,817 tCO2e; Scope 1 2019 baseline: 24,363 tCO2e (10.5% reduction)
- Scope 2 market-based 2024: 1,758 tCO2e; Scope 2 location-based 2024: approximately 73,000 tCO2e
- Scope 3 2024: approximately 1,900,000 tCO2e; purchased goods and services: 42% of total Scope 3
- Total 2024 footprint: approximately 1.93 billion kg CO2e
- 2019 SBTi baseline Scope 1 and 2 market-based: 27,516 tCO2e; 2024 figure: 23,575 tCO2e (approximately 14.3% reduction toward the 60% by 2033 target)
- CarbonNeutral certified since 2018 across Scope 1, Scope 2, and select Scope 3 categories
- 100% renewable electricity globally since 2018, maintained continuously per RE100 technical guidance
Water Stewardship
American Express’s water stewardship targets are embedded within its broader operational environmental goals set for 2025, aligned to a 2011 baseline. As a financial services company, the company’s water footprint is confined to its offices, data centers, and Centurion Lounge network, making it relatively modest compared to industrial peers. The 2024-2025 Sustainability Disclosure does not publish a new post-2025 water reduction target, which represents a gap in forward-looking disclosure.
- 2025 goal included water use reduction at managed facilities relative to a 2011 baseline; specific percentage and final FY2024 water figure not published in the 2024-2025 disclosure
- No post-2025 water stewardship target has been formally announced as of March 2026
- Water-intensive Centurion Lounge operations have phased out single-use plastics globally as part of the Parley for the Oceans partnership
Regenerative Agriculture
This pillar does not apply to American Express’s direct business operations. The company has no agricultural or land-use activities. Indirectly, the company’s Shop Small program supports independent food and beverage retailers, though no agricultural sustainability requirements have been imposed on participating merchants.
Deforestation and Biodiversity
American Express provided $2.25 million in grants to American Forests, the National Park Foundation, and the Earthwatch Institute in 2022 as part of its $10 million climate philanthropy commitment, supporting nature-based solutions and biodiversity conservation in urban and coastal communities. The company has no formal deforestation policy or biodiversity baseline tied to its operations or supply chain as of March 2026.
- $2.25 million in grants to nature-based solution organisations in 2022: American Forests, National Park Foundation, Earthwatch Institute
- No formal deforestation commitment or supply chain biodiversity policy published as of March 2026
Packaging and Circular Economy
American Express’s most visible circular economy initiative is its transition to recycled and reclaimed plastic card manufacturing. The American Express Green Card is now made from 70% reclaimed plastic sourced from beaches and coastal communities through its Parley for the Oceans partnership. The company set a goal for the vast majority of plastic cards issued globally to be made from at least 70% recycled or reclaimed plastic by end of 2024, a transition that, if met, would avoid nearly 160,000 pounds of virgin plastic from being used annually.
- Green Card: manufactured from 70% reclaimed ocean-intercepted plastic (Parley for the Oceans partnership)
- Goal: vast majority of all cards issued by American Express to be made of at least 70% recycled or reclaimed plastic by end of 2024; estimated annual avoidance of 160,000 pounds of virgin plastic
- Single-use plastic straws and coffee stirrers phased out from all major offices and Centurion Lounges globally
- Zero waste certification pursued for the New York City headquarters
- No published circular economy target for Scope 3 packaging within the supply chain beyond card manufacturing
Human Rights and Responsible Sourcing
American Express’s Supplier Code of Conduct covers human rights, environmental standards, and responsible sourcing for its global supply chain. The company’s 2024-2025 Sustainability Disclosure reports on governance frameworks including responsible lending policies, data privacy, and ethical business conduct under the Conduct and Values pillar. American Express removed diversity performance goals from its executive compensation program as of 2024, in response to the U.S. regulatory and legal environment affecting corporate DEI programs.
Nutrition and Health
This pillar does not apply to American Express’s core business as a payments and financial services company. The company does not manufacture food or consumer health products.
Community and Social Impact
American Express launched the Amex Shop Small Grants Program in November 2025, committing $5 million to award 250 grants of $20,000 each to eligible U.S. small businesses, in partnership with Main Street America. Consumer spending driven by American Express’s Shop Small movement reached an estimated $83.5 billion across U.S. and U.K. markets between 2021 and 2024, against a goal of $100 billion by 2025, with $22.8 billion recorded in 2024 alone. The company also committed $500 million to build more resilient and equitable communities between 2021 and 2025, covering financial access, workforce development, and disaster recovery initiatives.
- Estimated Shop Small consumer spending at small businesses: $83.5 billion (2021-2024); $22.8 billion in 2024 alone; target $100 billion by 2025
- $5 million Amex Shop Small Grants Program (2025): 250 grants of $20,000 each, partnered with Main Street America
- $500 million community investment commitment 2021-2025 covering financial access, workforce development, and equity
- $10 million climate philanthropy commitment through 2025 for organisations driving climate action
- Cashflow Insights free digital platform used by over 110,000 small businesses in 2024
- Business Class free educational platform: over 1.8 million unique visitors in 2024
Governance and Transparency
American Express’s 2024-2025 Sustainability Disclosure follows GRI, SASB/ISSB, TCFD, and CDP frameworks, and includes a limited assurance statement of GHG emissions from a third-party auditor. SBTi validated the company’s full net-zero target set in August 2024, covering both near-term and long-term emissions reduction targets and the partner engagement target, under the SBTi Net-Zero Standard. American Express submits annually to the CDP and publishes a TCFD-aligned index updated through the 2023-2024 reporting cycle.
Technology and Innovation
American Express uses AI-driven real-time risk assessment to approve or decline transactions across its global network, supporting both fraud prevention and the digital infrastructure underpinning its sustainability solutions for corporate clients. The company announced plans in 2022 to introduce digital carbon tracking and offset solutions for corporate card clients, enabling businesses to measure and manage their Scope 3 travel and procurement emissions.
- AI-driven real-time transaction risk assessment across global card network
- Digital carbon tracking and offset solution for corporate clients: announced 2022, development and rollout ongoing
- Onsite solar generation at select owned properties, supplemented by renewable energy credits per RE100 methodology
- 55% of global real estate footprint holds green building certification
- Goal: 35% reduction in energy use across managed facilities by 2025 vs. 2011 baseline
Global Partnerships and Advocacy
American Express is a signatory to the Race to Zero and Business Ambition for 1.5°C, both UN-backed climate coalitions. The Parley for the Oceans partnership on card manufacturing represents the company’s most visible physical supply chain sustainability initiative, directly intercepting marine plastic waste and converting it into card-grade material. American Express engages cobrand partners (airlines, hotels, retailers) and Membership Rewards redemption partners on SBTi target adoption, with a formal goal that 75% of these partners by emissions volume have science-based targets by 2028.
Source
https://www.americanexpress.com/en-us/company/corporate-sustainability/
https://www.americanexpress.com/content/dam/amex/en-us/newsroom/pdfs/AXP_2023-2024_TCFD_Index.pdf
https://ditchcarbon.com/organizations/american-express
https://www.marketscreener.com/news/2024-2025-sustainability-disclosure-11-21-2025-00-00-00-ce7d5edcd089f123
Progress vs. Target Tracker
Source
https://www.americanexpress.com/en-us/company/corporate-sustainability/
https://ditchcarbon.com/organizations/american-express
https://www.americanexpress.com/content/dam/amex/en-us/newsroom/pdfs/AXP_2023-2024_TCFD_Index.pdf
Key Sustainability Innovations and Technologies
American Express’s most differentiated sustainability innovation is its card material transition in partnership with Parley for the Oceans, making it the first card network to use ocean-intercepted, upcycled marine plastic as primary card material. This partnership, initially launched with the Green Card, is being scaled across the portfolio, with the ambition to avoid 160,000 pounds of virgin plastic annually once the majority of issued cards reach the 70% recycled content threshold. The innovation is material both environmentally and as a brand signal to the company’s premium, travel-oriented cardholder base.
- Parley for the Oceans card: 70% ocean-intercepted reclaimed plastic; first card product of its kind globally
- Digital carbon tracking and offset tools for corporate clients: in development since 2022 to enable Scope 3 measurement and reduction for business card holders
- AI-driven real-time transaction assessment: supports both fraud prevention and data-rich customer sustainability tools
- Onsite renewable energy generation at select owned facilities, complementing RE100-aligned renewable energy credit procurement
- Cashflow Insights and Business Class: free digital platforms that support 110,000+ small businesses with financial management and 1.8 million visitors with educational resources in 2024
- Shop Small Map and Neighbourhood Champions: digital and physical tools directing consumer spend toward independent small businesses at scale across 12+ countries
Source
https://www.americanexpress.com/en-us/company/corporate-sustainability/
https://esgnews.com/american-express-announces-new-initiatives-to-advance-climate-action-and-support-low-carbon-communities/
https://global.americanexpress.com/card-benefits/detail/parley/amex-green
Measurable Impacts
American Express’s 2024 environmental data, covered under third-party limited assurance, confirms that market-based Scope 1 and 2 emissions have declined from 27,516 tCO2e in 2019 to approximately 23,575 tCO2e in 2024, a reduction of approximately 14.3% toward the 60% by 2033 near-term SBTi target. The location-based Scope 1 and 2 figure in 2024 is substantially higher at approximately 94,000 tCO2e, compared to a 2019 location-based baseline of 138,327 tCO2e, a 32% absolute reduction driven by the shift to renewable electricity across all global operations.
The most significant measurement challenge is Scope 3, where reported figures have been volatile: 2019 Scope 3 was 51,679 tCO2e, 2020 Scope 3 was 2,081,315 tCO2e, 2021 was 850 tCO2e, and 2024 shows approximately 1.9 million tCO2e. These fluctuations reflect changes in Scope 3 category boundary definitions and ongoing refinement of value chain accounting methodology rather than actual emission swings of this magnitude. This lack of year-over-year consistency is a material transparency gap for SBTi compliance tracking.
- Scope 1 and 2 market-based 2024: 23,575 tCO2e vs. 2019 baseline of 27,516 tCO2e (approximately 14.3% reduction toward 60% target by 2033)
- Scope 1 and 2 location-based 2024: approximately 94,000 tCO2e vs. 2019 location-based baseline of 138,327 tCO2e (32% reduction)
- Scope 3 2024: approximately 1,900,000 tCO2e; purchased goods and services: 42% of Scope 3 total
- 100% renewable electricity maintained for all global operations since 2018
- 55% of global real estate footprint holds green building certification (2023)
- CarbonNeutral certified operations: maintained since 2018
- $83.5 billion in estimated Shop Small consumer spending 2021-2024; $22.8 billion in 2024
- 110,000+ small businesses using Cashflow Insights in 2024
Source
https://ditchcarbon.com/organizations/american-express
https://net0tracker.com/corporates.html/American%20Express/
https://www.americanexpress.com/content/dam/amex/en-us/newsroom/pdfs/AXP_2023-2024_TCFD_Index.pdf
Challenges and Areas for Improvement
The most significant sustainability challenge for American Express is the inconsistency and methodology volatility in Scope 3 reporting. The wide fluctuation between annual figures (from 850 tCO2e in 2021 to 2,081,315 tCO2e in 2020 to approximately 1.9 million tCO2e in 2024) makes progress tracking against the 35% Scope 3 reduction by 2033 SBTi target practically impossible without a stable, independently verified multi-year baseline. Until American Express establishes a consistent Scope 3 boundary and publishes category-level data with third-party assurance for at least three consecutive years, the SBTi Scope 3 target remains an aspiration that cannot be verified externally.
The second challenge is the gap in the recycled card manufacturing commitment. The goal to transition the vast majority of cards to 70% recycled content by end of 2024 has not been confirmed as met or missed in the 2024-2025 disclosure, representing a disclosure gap on one of the company’s most visible product sustainability claims. For a company operating a global card portfolio of hundreds of millions of cards, the material and waste implications of this transition are significant.
- Scope 3 methodology volatility: figures range from 850 tCO2e (2021) to 2,081,315 tCO2e (2020) to approximately 1.9 million tCO2e (2024); no stable baseline for SBTi progress tracking
- Purchased goods and services represent 42% of Scope 3 but suppliers are difficult to influence at scale; only 75% of key partners by emissions targeted for SBTs by 2028
- Recycled card portfolio milestone: full transition to 70%+ recycled card material by end of 2024 not confirmed in the 2024-2025 disclosure
- Shop Small $100 billion goal through 2025: at $83.5 billion through 2024, the final year target of $16.5 billion in 2025 is ambitious but possible
- No post-2025 water stewardship targets published; water disclosure section absent from 2024-2025 sustainability disclosure
- Zero waste certification for the NYC headquarters: status unconfirmed as of the November 2025 publication
- No formal biodiversity baseline, deforestation commitment, or nature-positive target published as of March 2026
- DEI performance goals removed from executive compensation in 2024, reducing accountability mechanisms for workforce equity
Source
https://ditchcarbon.com/organizations/american-express
https://net0tracker.com/corporates.html/American%20Express/
https://www.marketscreener.com/news/2024-2025-sustainability-disclosure-11-21-2025-00-00-00-ce7d5edcd089f123
Future Plans and Long-Term Goals
American Express’s forward-looking sustainability roadmap is anchored by the SBTi-validated net-zero pathway published in August 2024 and the 2025 updated sustainability strategy. The 2033 near-term targets of 60% Scope 1 and 2 reduction and 35% Scope 3 reduction are the most binding intermediate commitments, with performance reviewable within the next seven years. The partner engagement target, requiring 75% of Membership Rewards redemption and cobrand partners by emissions to hold science-based targets by 2028, is operationally significant because Amex’s cobrand ecosystem includes major airlines, hotel chains, and retailers, whose decarbonisation choices directly affect the company’s Scope 3 footprint.
American Express plans to continue expanding its digital carbon management tools for corporate clients, enabling business card holders to measure and offset Scope 3 travel and procurement emissions through the card platform itself. The Shop Small movement is expected to continue beyond 2025 with new targets to be announced, given the strategic centrality of small business support to the brand.
- 60% absolute reduction in Scope 1 and 2 GHG emissions by 2033 (vs. 2019 baseline)
- 35% absolute reduction in Scope 3 GHG emissions by 2033 (vs. 2019 baseline)
- 75% of Membership Rewards redemption and cobrand partners by emissions to have SBTs by 2028
- 90% absolute reduction in Scope 1, 2, and 3 by 2050 (vs. 2019 baseline)
- Net zero across full value chain by 2050
- Carbon tracking and offset digital tools for corporate clients: continued rollout
- Scaled recycled card manufacturing to cover the vast majority of the global card portfolio
- Post-2025 community investment and Shop Small spending targets: to be announced
Source
https://www.americanexpress.com/en-us/company/corporate-sustainability/
https://www.americanexpress.com/content/dam/amex/en-us/newsroom/pdfs/AXP_2023-2024_TCFD_Index.pdf
https://www.greenlodgingnews.com/american-express-commits-to-net-zero-emissions-globally-by-2035/
Comparisons to Industry Competitors
American Express competes on sustainability with Visa and Mastercard, the two other major global card networks, both of which have published verified GHG data and net-zero commitments. Mastercard reported the strongest absolute progress, with a 46% reduction in total GHG emissions from its 2016 baseline to 515,981 tCO2e in 2024, and its Priceless Planet Coalition has supported the planting of 26 million trees toward a 100 million tree target by 2025. Visa’s 2024 total footprint of approximately 700,120 tCO2e is larger than Mastercard’s, with Scope 3 representing 87.6% of its total, and its net-zero target is set for 2040.
Card Network Sustainability: American Express vs. Competitors
Source
Visa sustainability report: https://carboncredits.com/visa-vs-mastercard-strong-earnings-meet-rising-climate-pressure/
Mastercard sustainability: https://carboncredits.com/visa-vs-mastercard-strong-earnings-meet-rising-climate-pressure/
American Express: https://www.americanexpress.com/en-us/company/corporate-sustainability/
What to Watch: 12 to 18 Month Indicators
First indicator: Whether American Express stabilises and restates its Scope 3 emissions baseline in its 2025 calendar year sustainability disclosure, expected late 2026. The fluctuation between 850 tCO2e (2021), 2,081,315 tCO2e (2020), and approximately 1.9 million tCO2e (2024) cannot represent actual emissions changes of this magnitude and reflects boundary redefinition and methodology changes. SBTi’s net-zero standard requires a stable, verified baseline for the 35% Scope 3 reduction by 2033 target to be trackable. If the 2025 disclosure does not include a consistent, category-level Scope 3 breakdown with third-party assurance, the SBTi Scope 3 validation becomes unenforceable in practice.
Second indicator: Whether 75% of Membership Rewards and cobrand partners by emissions volume commit to science-based targets by the 2028 deadline. The first measurable checkpoint for this will be the 2026 sustainability disclosure, which should report the current percentage of partner emissions covered by SBTi commitments. American Express’s cobrand portfolio includes some of the world’s largest airlines and hotel chains, many of which are under significant pressure to set credible decarbonisation targets. Any announcement of a formal cobrand partner sustainability engagement program between now and end-2026 would signal that the 2028 target is actively managed rather than passively tracked.
Third indicator: Whether the full card portfolio recycled plastic transition, targeting the vast majority of cards at 70%+ recycled content, is confirmed as achieved or updated with a revised timeline in the 2025 disclosure. With hundreds of millions of cards in circulation globally, a confirmed transition would avoid approximately 160,000 pounds of virgin plastic annually and validate Amex’s circular economy credentials in physical products. A delay or revision of this target would indicate that supply chain constraints in reclaimed ocean plastic sourcing are more limiting than the company originally forecast.
Source
https://ditchcarbon.com/organizations/american-express
https://www.americanexpress.com/en-us/company/corporate-sustainability/
https://www.americanexpress.com/content/dam/amex/en-us/newsroom/pdfs/AXP_2023-2024_TCFD_Index.pdf
American Express is one of the strongest sustainability performers in global financial services on operational metrics: it has maintained CarbonNeutral certified operations and 100% renewable electricity since 2018, achieved SBTi validation for all three target tiers in August 2024, and built a genuinely differentiated product sustainability story through its ocean plastic card manufacturing. Where it lags is in the quality and consistency of Scope 3 disclosure, which is the most financially material emissions category for a company whose value chain is dominated by the spending behaviour of millions of cardholders and tens of thousands of merchants and partners.
For CSOs and ESG practitioners benchmarking against American Express or building financial services sustainability programs, three strategic takeaways apply.
First, the partner SBTi engagement target, covering 75% of Membership Rewards and cobrand partners by emissions by 2028, is the most strategically innovative element of Amex’s sustainability framework. No other card network has embedded supplier and partner SBTi adoption as a formal, validated target. Practitioners in industries with complex partner ecosystems, including travel, retail, and hospitality, should study this model as a replicable framework for extending Scope 3 accountability beyond direct supplier relationships into commercial partnership agreements.
Second, the Scope 3 methodology inconsistency is not merely a reporting deficiency. It reflects a structural challenge that all financial services companies face: the boundary between a company’s own Scope 3 and the financed emissions of its customers is contested, evolving, and increasingly subject to regulatory pressure. American Express’s 2025 disclosure will be a test of whether it moves toward the Partnership for Carbon Accounting Financials (PCAF) methodology for financed emissions, which would increase its reported Scope 3 footprint dramatically but bring it into line with emerging regulatory expectations.
Third, the Shop Small program, with $83.5 billion in consumer spending mobilised at small and independent businesses between 2021 and 2024, is one of the most impactful community sustainability programs in the corporate world, operating at a scale that no philanthropy budget could replicate. Practitioners designing community impact strategies should recognise that redirecting commercial transaction flows, rather than grant-making alone, is the highest-leverage mechanism available to payments and platform companies for community sustainability outcomes.
