NEWARK, Del.–(BUSINESS WIRE)–Apr 26, 2023–
Sallie Mae®, formally SLM Corporation, today released its Environmental, Social, and Governance (ESG) report: “ Powering Confidence.” The report’s title is a nod to Sallie Mae’s mission to power confidence in students and families on their unique higher education journey and highlights the company’s continued mission-aligned efforts to support customers, communities, employees, and the environment.
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Specifically, the report shares progress on ESG initiatives in 2022 including:
- Reducing Environmental Impact: Sallie Mae completed its first comprehensive greenhouse gas (GHG) inventory, providing an understanding of its baseline footprint and opportunities to reduce impacts in the future. The company also signed a zero-waste agreement with its waste management and recycling provider, highlighting its dedication to sustainable practices.
- Supporting Higher Education Access and Completion: The Sallie Mae Fund, Sallie Mae’s charitable arm, again partnered with Thurgood Marshall College Fund to award $1 million in scholarships to help underserved and underrepresented students access and complete higher education. The company continues to offer all students access to free tools and resources to help them navigate to, through, and immediately after college.
- Advancing Social Justice and Giving Back to Communities: The Sallie Mae Fund provided $385,000 in grants to advance social justice and remove barriers to higher education access and completion, including $100,000 to support National HBCU Week. The company also provided $71 million in new investments to support low- and -moderate-income housing in Utah – home to Sallie Mae Bank – and an additional $371,000 in scholarships and grants to Utah students through the Community Reinvestment Act.
- Supporting the Workforce: Sallie Mae introduced new diversity focused programs, a hybrid working model to allow for flexibility, connection, and growth and continued to provide competitive benefits including more than 12,000 hours of primary and 4,800 hours of secondary parental leave. The company was also recognized as one of the 100 Best Adoption-Friendly Workplaces by The Dave Thomas Foundation for Adoption. The company also received recognition for the diversity of its Board of Directors.
“Our ESG strategy and focus is driven by our mission and where we can make the most impact – helping students and families from all backgrounds access and complete higher education,” said Jon Witter, CEO, Sallie Mae. “I’m confident this mission-aligned ESG approach will further contribute to the success of our customers, our communities, and our people, and will foster a more sustainable future.”
Sallie Mae’s ESG Report, formerly referred to as the Corporate Social Responsibility Report, was prepared with reference to the principles and disclosures of the Global Reporting Initiative (GRI) Standards: Core option and included reporting against three relevant Sustainability Accounting Standard Board (SASB) sector standards. Sallie Mae also uses the Principles for Responsible Banking, the United Nations (UN) Global Compact, and the UN Guiding Principles on Business and Human Rights frameworks to guide its reporting.
To learn more about Sallie Mae’s ESG efforts, visit www.salliemae.com/ESG.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Community and Philanthropy
View source version on businesswire.com:https://www.businesswire.com/news/home/20230425006006/en/
CONTACT: Caron Jackson
856.873.0476
Caron.Jackson@salliemae.com
KEYWORD: DELAWARE UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES EDUCATION ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) FINANCE OTHER EDUCATION UNIVERSITY
SOURCE: Sallie Mae
Copyright Business Wire 2023.
PUB: 04/26/2023 09:31 AM/DISC: 04/26/2023 09:31 AM
http://www.businesswire.com/news/home/20230425006006/en
Copyright Business Wire 2023.
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