In Pursuit of the Greater Good

Transcription

In Pursuit of the Greater Good
CORPORATE SOCIAL
RESPONSIBILITY REPORT 2013
Capital One | Corporate Social Responsibility Report 2013
Menu
OVERVIEW.........................3
Job Skills and Education..................... 32
Message from Our CEO........................ 4
Financial Capability............................ 33
Our Approach to CSR........................... 5
ENVIRONMENT................35
Overview of 2013................................. 6
Environmental Sustainability............... 36
Key CSR Topics................................... 8
Sustainability in Our Operations.......... 37
COMPANY........................ 10
Sustainability through Our Business.... 40
Organizational Profile...........................11
Associate and
Community Engagement.....................41
Business Operations.......................... 12
Environmental Data............................ 42
Governance and Business Practices... 13
PEOPLE........................... 15
RECOGNITION..................43
Awards and Recognition..................... 44
Our Workplace and Culture................ 16
Our Associate Benefits Programs........ 20
COMMUNITY....................22
APPENDIX........................46
About This Report.............................. 47
External Verification Statement........... 48
Community Impact............................. 23
Increased Access to Banking............. 26
Affordable Housing............................ 27
Support for Small Businesses............. 29
Supplier Diversity............................... 31
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OVERVIEW
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
2
Overview
A look at our corporate
social responsibility journey
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OVERVIEW
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
3
OVERVIEW | Message from Our CEO
Message from Our CEO
2013 was a special year at Capital One®.
We delivered strong financial
performance. We completed two
integrations. And we were named to
the Civic 50 survey as one of the most
community-minded companies in the
S&P 500® for the second year in a row.
But the story of Capital One is about
much more than a single year. For more
than two decades, we’ve been on a
journey to build one of America’s great
companies, and we’ve never lost sight of
the fact that helping to build strong and
thriving communities is a cornerstone
of our long-term success. We prosper
when our customers, associates, and
communities prosper.
Our Values – Excellence and Do
the Right Thing – shape every
decision we make as we operate our
business, advocate for our customers
and communities, manage our
environmental footprint, and create a
work environment in which talented
associates can thrive.
Capital One has great people with the
heart and intellect to pull off amazing
things every day. They are smart, work
hard, elevate each other, and obsess
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COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
about doing the right thing. In 2013,
they volunteered more than 360,000
hours in service. They taught financial
literacy skills to kids and adults, helped
first-time homeowners understand the
responsibilities associated with home
ownership, coached and mentored
entrepreneurs, and helped revitalize
their communities. More importantly,
they made a positive difference in the
lives of hundreds of thousands
of people.
Throughout this report you will read
about our work and our progress toward
the goals we’ve set for our company.
Together with the great people of
Capital One, I look forward to continuing
our quest to bring simplicity, ingenuity,
and humanity to banking, and along
the way build one of America’s great
companies.
Richard D. Fairbank
Chair, Chief Executive Officer
and President, Capital One
Financial Corporation
RECOGNITION
APPENDIX
4
OVERVIEW | Our Approach to Corporate Social Responsibility
Our Approach to Corporate Social Responsibility
For more than two decades, Capital One
has been on a journey to bring ingenuity,
simplicity, and humanity to banking.
We have been great advocates for our
consumers’ needs, as well as the needs
of our associates and communities.
We undertook this journey knowing
that our own long-term success is
invariably linked to the long-term
success of our customers, associates,
and communities. We also knew
that as a financial services company
we were uniquely positioned to help
others succeed by spurring economic
growth and increasing opportunities for
individuals, families, and businesses.
Each day we work to earn and maintain
trust among our stakeholders. The
trust they have in us is hard-won and
comes as a result of our transparency,
advocacy, and thoughtful trade-offs.
It is also the result of listening and
understanding the needs of our
customers, associates, communities,
partners, and other stakeholders
in an effort to build mutually
beneficial relationships.
We operate our business by focusing on
treating our customers and associates
with appreciation, respect, and fairness,
and by evolving our business practices
and policies to ensure that we are
putting the needs of our customers first.
We focus on designing and delivering
best-value products to the broadest
group of customers. We manage risks
with conservatism, use our resources
to help our communities thrive, and
thoughtfully oversee our environmental
footprint. We have built a diverse and
inclusive culture, and have a workplace
where transparency, ethics, and Values
guide our decisions.
Through our partnership with Junior Achievement Finance Park, we help middle and high school
students learn critical money management skills like budgeting and saving.
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COMPANY
PEOPLE
We continuously review and evaluate
important and wide-ranging risks and
opportunities, and we seek to develop
innovative programs that leverage the
core strengths of our business. That
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ENVIRONMENT
includes relying on the expertise and
skills of our associates, and those of
our partners, to maximize our impact.
Our journey to date has a track record
of achievements, but we know that the
expectations of others, as well as those
we have for ourselves, continue
to rise. We are committed to constant
improvement as corporate citizens.
We will keep moving forward with a
deep commitment to do what’s right
for our customers, associates, investors,
and communities.
FOR MORE
INFORMATION, GO TO:
ABOUT US »
NEWSROOM »
INVESTING FOR GOOD »
RECOGNITION
APPENDIX
5
OVERVIEW | Overview of 2013
Overview of 2013
Capital One has been built with a constant
focus on what we believe are the key
building blocks of enduring success:
•
Go where the market is going
•
Handpick businesses with
structurally superior returns
•
Achieve relevant scale where it
matters most
•
Hire great people and give them the
chance to be great
•
Create a diverse, inclusive, and
open culture
•
Leverage information, analytics, and
testing to bring the right products to
the right customer at the right price
•
Manage risk with preemptive
conservatism
•
Obsess about long-term resilience
and value creation
•
Build a loyal customer franchise
OVERVIEW
INNOVATION
As more and more consumers rely
on digital and mobile technologies –
from our tech-savvy Capital One 360®
customers to those in low- to moderateincome communities – banking has
become a fundamentally digital
experience. From innovative products
and services to enhanced digital
engagement, at Capital One ideas
continue to propel us forward, and
it is imperative that we continue to
encourage and cultivate the innovative
spirit that is the engine of our success.
At Capital One, we listen to our
customers and consistently deliver
forward-looking, consumer-friendly
For more than two decades, we have
remained focused, delivering sustained
value and strengthening our position to
compete effectively and win as the banking
industry has evolved.
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SUCCESSFUL INTEGRATIONS
We completed the integration of two
large businesses in 2013, each of which
we acquired in 2012: ING DIRECT® and
HSBC®’s U.S. credit card portfolio. We
completed both integrations on time
and under budget.
MEETING CUSTOMER NEEDS
We want to bring simplicity, ingenuity,
and humanity to banking. Across all of
our businesses, we continually adapt
and invest to ensure that our customers
understand how to wisely and effectively
use all of our credit, savings, transaction,
and investment products and services.
COMPANY
PEOPLE
products. We strongly support efforts
to improve customers’ understanding of
their financial products.
Since 2012, when we undertook a
wide-ranging redesign of how we deliver
Servicemembers Civil Relief Act (SCRA)
benefits, our enterprise-wide SCRA office
COMMUNITY
ENVIRONMENT
has worked to ensure effective oversight
of compliance across the company. We
have in place a number of enhanced
policies and programs to better protect
and serve our military customers.
These policies and programs exceed
the minimum requirements of the law
by providing even greater benefits and
stronger protections, including lower
interest rates, available for longer, across
all of our lending products.
RECOGNITION
APPENDIX
6
OVERVIEW | Overview of 2013
HELPING COMMUNITIES THRIVE
A central component of our commitment
to doing the right thing is our total
investment in the communities where
we live and work. We’ve taken a multipronged approach to community
well-being – one that fosters positive
change in those communities and pride
in our associates. In fact, in responding
to a question on our 2013 annual AllAssociate Survey, 95% of our associates
said that they are proud of the way
the company engages in community.
We gave more than $48 million in
philanthropic grants that align with our
focus to fund programs and nonprofits
that help expand economic opportunity
for individuals, families, and businesses.
In addition, we provided more than
$1.37 billion in loans and investments to
develop 16,000 safe, affordable places
to live and create 19,500 new jobs.
COMMUNITY REINVESTMENT
ACT (CRA)
Capital One is fully committed to
the spirit and intent of the Community
Reinvestment Act, and many activities
included in this report demonstrate
that commitment.
REDUCING OUR
ENVIRONMENTAL IMPACT
We are committed to improving the
environmental sustainability of our
business and recognize that it is a
journey of continuous improvement.
Over the past five years, we have made
SIMPLIFYING OUR DISCLOSURES
%
100
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We have been recognized for being an
industry leader in customer disclosures
– in both our marketing and customer
account materials. Capital One was one
of the first to adopt the Pew Charitable
Trusts’ “Model Disclosure Box,”1 making
it easier for consumers to compare
checking account fees.
OVERVIEW
We were one of only two banks to earn a
perfect score for transparency in a 2013
survey by financial website WalletHub.
And, according to Card Hub®, Capital One
had the clearest credit card applications
for the fourth straight year, receiving a
perfect score of 100% in 2013.
COMPANY
good progress, especially in reducing
the greenhouse gas (GHG) emissions
of our facilities, increasing the number
of our buildings that are green certified,
sourcing more environmentally preferred
paper, and engaging associates in
environmental sustainability efforts.
We have achieved our previous goal
of reducing our GHG emissions and
are working towards a new, more
ambitious goal – to reduce GHG
emissions by 25% by 2020. Through
our investment in energy-efficient
buildings, approximately 50% of the
non-branch, office portfolio is now
green certified. We also have surpassed,
one year early, our goal of using 70% of
all paper from environmentally preferred
sources. Many of our associates are
actively engaged in supporting this
environmental progress within our
business operations and helping to
promote environmental sustainability in
their own lives and in our communities.
1
PEOPLE
SNAPSHOT
COMMUNITY
INVOLVEMENT
362,000
hours Capital One associates spent
engaged in volunteer activities with
hundreds of community programs and
nonprofit organizations in 21 states in
2013. We gave more than $48 million
in grants to schools, colleges, and other
nonprofit organizations.
Morton, John; Kachoris, Ianna; Winship, Scott; Ratner, Jeremy; Lasky, Samantha; Currier, Erin; Allen, Colleen;
Nelson, Lindsay, “Renewing the American Dream: A Road Map to Enhancing Economic Mobility in America”
(2009). The Pew Charitable Trusts, Economic Mobility Project.
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
7
OVERVIEW | Key CSR Topics
Key CSR Topics
We evolve our products as our
customers’ needs evolve. And, we
have a number of different channels for
our customers to share their feedback
with us, as well as for our associates to
provide their own ideas for innovation
and change.
We have a robust training program for our associates to ensure that they understand and can put into
daily practice required policies, standards, and regulations as they serve our customers.
A team of Capital One associates
representing a cross-functional
perspective worked together to develop
this report. The team identified several
areas that are of ongoing importance
to our business.
and potential customers, regulators,
BUSINESS PRACTICES
We work each day to earn the trust
of our stakeholders – our current
are in place to guide our actions and
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OVERVIEW
investors, and associates. How we
conduct ourselves is as important as
the products and services we offer.
Therefore, we work to ensure that
policies, practices, and programs
REGULATORY ENVIRONMENT
The financial services industry has seen,
and continues to respond to, a
heightened level of regulation and
legislation. An increasing array of
banking and consumer lending laws
apply to almost every aspect of our
business. We continue to partner with
our regulators to understand the
changing requirements. We accept dual
responsibility for safety and soundness
and consumer protection, and are
working to ensure our products and
practices are compliant. Where we share
interests with industry and community
partners, we will continue to work with
them to address public policy concerns.
Capital One will adjust to the subsequent
changes in our industry, establishing any
systems and policies to achieve
compliance to new regulations.
OUR APPROACH
TO IDENTIFYING
KEY TOPICS
To identify and prioritize key CSR topics,
a cross-functional team of Capital One
associates worked to:
SOLICIT FEEDBACK
Interviewed subject-matter experts
and business line executives.
AUDIT AND REVIEW
Conducted audits of internal and
external information to gain a
perspective of the company and the
financial services industry as related to
social responsibility.
REVIEW AND PRIORITIZE
Cross-functional subject-matter
experts reviewed and prioritized a range
of topics: from business practices to
data security and privacy to our impact
on communities and the environment.
decisions, and provide the clarity
needed to build and maintain trust.
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PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
8
OVERVIEW | Key CSR Topics
DATA SECURITY AND PRIVACY
Data security and consumer privacy
issues are top of mind for Capital One.
We, along with our industry partners,
constantly work to improve processes
that help protect confidential data
and keep customers informed about
ways to minimize risk. Among other
things, we will begin rolling out EMV/
chip technology to our cardholders in
2014 to help provide an added level of
security and protection against some
types of account fraud. As technology
becomes increasingly sophisticated, we
will continue to be vigilant and leverage
the resources necessary to protect our
customers’ financial futures.
ACCESS TO FINANCIAL SERVICES
A diverse portfolio of products – in both
our credit card and banking businesses
– allows us to help customers at
every point of their financial journey.
We provide full-service banking to
traditionally low- to moderate-income
neighborhoods, along with tools and
guidance to help residents safely
manage their money and realize
their financial goals. We aim to build
long-term customer relationships
through products that are predicated
on consumers’ success, providing
reasonable access to credit with
appropriate guardrails to help ensure
customers stay on track as they build
or rebuild their credit profile.
We also provide educational materials
such as Credit Tracker®, a free online
tool introduced in 2014 that helps our
customers easily track, protect, and
learn how to strengthen their credit
scores. Credit Tracker provides
customers with their credit score history,
a bureau summary, bureau monitoring
with real-time alerts, and a simulator
that shows the impact of financial
decisions on credit scores.
ENVIRONMENTAL IMPACT
High standards for environmental
responsibility are critical for any
business to succeed in today’s
marketplace. In 2008, we established
our Environmental Sustainability
Office to develop and manage
our environmental sustainability
strategy, policies, and programs. Our
Environmental Council is headed by
an executive, is comprised of leaders
across our enterprise, and provides
strategic guidance and support for our
environmental sustainability initiatives.
Our commitment to sustainability
begins with our own facilities and
extends to our customers and
vendors. We encourage customers
to take advantage of our online and
mobile banking tools. We work with
our paper suppliers to source more
environmentally preferred paper.
We also work with our associates to
help them reduce their impact on
the environment and to improve the
environmental health of
their communities.
from Capital One ®
Like many of our products and services,
Credit Tracker provides our customers with
secure, quick, and easy access to their
account information to better manage their
finances, on their desktop or mobile device.
from Capital One ®
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COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
9
Our Company
A look at who we are as a business
and how we operate
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PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
10
COMPANY | Organizational Profile
Organizational Profile
OPERATIONS
45,364
41,375
TOTAL
ASSOCIATES
U.S.-BASED
ASSOCIATES
Countries Where We Have Associates:
5
CAPITAL ONE FINANCIAL
CORPORATION
A Delaware Corporation established in 1994 and
headquartered in McLean, Virginia, Capital One
Financial Corporation offers a broad array of
financial products and services to consumers,
small businesses, and commercial clients
through branches, the Internet, and other
distribution channels.
2013 COMMUNITY
INVESTMENTS
48 million
$
Loans & Investments: 1.37 billion
Total Philanthropic Giving:
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$
COMPANY
27
APPROXIMATELY
ASSOCIATES
2013 FINANCIALS
22,384
$
4,159
$
297,048
$
204,523
$
STATES WITH
OFFICE LOCATIONS
150
900
1,970
(in millions)
OFFICE
LOCATIONS
BRANCH
LOCATIONS
ATMS
TOTAL
REVENUE
TOTAL
INCOME
TOTAL CORPORATE
ASSETS
TOTAL
DEPOSITS
BUSINESSES AND BRANDS
2013 FINANCIALS BY BUSINESS SEGMENT
Businesses
•Capital One Financial Corporation
Brands
•Capital One
•Capital One Bank (USA),
National Association (COBNA)
•Capital One Credit Card
•Capital One, National Association
(CONA)
•Capital One Commercial
Banking
Business Segments
•Credit Card:
- Domestic Card
- International Card
•Capital One Auto Finance
•Consumer Banking
•ShareBuilder by Capital One
•Commercial Banking
•Spark Business
PEOPLE
(net income in millions)
•Capital One Bank
Credit Card
•Capital One Home Loans
$
•Capital One 360
COMMUNITY
2,620
Consumer
Banking
1,450
$
Commercial
Banking
769
$
As of December 31, 2013
ENVIRONMENT
RECOGNITION
APPENDIX
11
COMPANY | Business Operations
Business Operations
Capital One has one of the
most widely recognized brands
in America, and is one of the
nation’s top ten largest banks
based on deposits.
WE OPERATE IN THREE PRIMARY
BUSINESS SEGMENTS
/
LOAN PORTFOLIO % OF TOTAL
PORTFOLIO
BY SEGMENT
CREDIT CARD:
CONSUMER BANKING:
COMMERCIAL BANKING:
Consists of our domestic consumer and
small business card lending, national
closed end installment lending, and the
international card lending businesses in
Canada and the United Kingdom.
Consists of our branch-based lending
and deposit gathering activities for
consumers and small businesses,
national deposit gathering, national
auto lending, and consumer home
loan lending and servicing activities.
Consists of our lending, deposit
gathering, and treasury management
services to commercial real estate and
commercial and industrial customers.
Through our credit card business, we play
an important role in helping people manage
their finances and plan for their future. We
provide reasonable access to credit and
connect individuals and businesses with the
information, guardrails, and security to help
them make strong financial choices.
Through our consumer banking business,
we are able to provide a broad array of
financial services to customers at a local,
community-centered level.
Through our commercial banking business,
we provide a wide variety of products and
services to help businesses of all sizes grow,
develop, and meet long-term goals.
$
81.3 /41%
billion
70.8 /36%
$
billion
$
45.0 /23%
billion
As of December 31, 2013
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PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
12
COMPANY | Governance and Business Practices
Governance and Business Practices
CAPITAL ONE BOARD OF DIRECTORS
Our Board of Directors believes that
sound corporate governance creates a
foundation for the ethical and effective
functioning of the Board, its committees,
and Capital One as a whole. Our
corporate governance practices are
a key component of being a wellmanaged company and are critical to
preserving the trust of our stakeholders,
including stockholders, associates,
customers, suppliers, governmental
entities, and the general public.
The Board of Directors has four
standing committees: Audit Committee;
Compensation Committee; Governance
and Nominating Committee; and Risk
OUR VALUES
Capital One’s corporate culture is built
on two Values: Excellence and Do
the Right Thing. Excellence describes
how Capital One associates perform
as individuals, as teams, and as
an organization. Do the Right Thing
describes how our associates interact
with each other and our customers.
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Committee. The names, titles, and
committee assignments of current
directors can be found on the Corporate
Governance page of Capital One’s
website, www.capitalone.com, under
“About Us/Investors.”
CORPORATE VALUES AND ETHICS
Our Values and their supporting
attributes serve as the basic framework
for how associates conduct themselves
and are expected to be manifested in
day-to-day behaviors, decisions, and
interactions. Capital One’s Values
embody our commitment to ethical
business practices and guide the
decisions we make every day.
The Code of Business Conduct and
Ethics outlines the responsibilities and
expectations of every Capital One director,
officer, and associate. Each associate
plays a role in building and maintaining
Capital One’s brand and reputation.
The Code of Business Conduct and
Ethics provides practical information
and resources that help us enhance our
relationships with customers, each other,
and our stakeholders.
Capital One associates are expected
to responsibly manage company
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PEOPLE
We have created a culture of collaboration, openness, and inclusion. Our Values of Excellence and
Do the Right Thing speak to our commitment to ethical business practices and guide our business
decisions each day.
information, with particular emphasis
on protecting the confidentiality
of information that customers and
consumers entrust to us. The Code
of Business Conduct and Ethics also
outlines the need for Capital One
associates to avoid conflicts of interest
and treat each other fairly and with
respect. Associates at all levels of the
company are given the information
and resources necessary to discuss
COMMUNITY
ENVIRONMENT
and report suspicions of wrongdoing,
including an Ethics Line and contacts in
Human Resources, Corporate Security
Services, and Information Security. A
copy of our Code of Business Conduct
and Ethics is available on the Corporate
Governance page of Capital One’s
website, www.capitalone.com, under
“About Us/Investors.”
RECOGNITION
APPENDIX
13
COMPANY | Governance and Business Practices
PUBLIC POLICY AND
POLITICAL CONTRIBUTIONS
Legislation and regulations touch all
aspects of our company. From designing
a new product to sending an offer and
managing the account, Capital One is
impacted by the legislation enacted by
lawmakers, as well as regulations issued
at the state and federal levels.
Capital One actively engages in the
political process to maximize our voice
on the issues that affect our business,
often in partnership with the company’s
trade associations.
More information on Public Policy
and Political Contributions can be
found under the Policy Affairs Annual
Reports on Capital One’s website,
www.capitalone.com, under “About
Us/About Capital One/Political Activity
and Disclosures.”
STAKEHOLDER ENGAGEMENT
We consistently engage with our
stakeholders, which include customers,
clients, regulators, investors, and
nonprofit organizations.
We reach these groups through a
number of different channels, and work
to ensure that we are continuously
soliciting feedback and providing
forums for two-way communication.
Capital One executives play an
important role in stakeholder
engagement by interacting with
individuals and small businesses in
their respective communities and
directing community funding to local
nonprofit organizations based on local
priorities. Working with these nonprofit
partners enables us to expand our reach
and maximize the impact we have in
communities across our footprint.
We engage with customers daily
through our call center activities,
on social channels, and in our bank
branches across our footprint.
COMMUNITY
ADVISORY COUNCIL
In 2013, Capital One established a
Community Advisory Council to build
deep relationships with civic leaders,
community representatives, and
customer advocates. Through this
forum, we have access to a variety
of perspectives and can engage in
an informed dialogue on a range of
products and practices that can affect
consumers and our customers.
FOR MORE
INFORMATION, GO TO:
INVESTORS »
NEWSROOM »
POLICY AFFAIRS »
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OVERVIEW
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
14
Our People
A look at our talented, diverse workforce
and our culture of inclusion
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OVERVIEW
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
15
PEOPLE | Our Workplace and Culture
Our Workplace and Culture
At Capital One, the character of our
company is a reflection of our associates
– transparent, focused on excellence,
and driven to do the right thing with
every decision and interaction.
Capital One was built based on the
philosophy that when we hire great
people and provide them with a
workplace that enables them to reach
their fullest potential, we will have
a workforce that is engaged, creative,
and highly capable of delivering
products and services that enable
us to do banking differently. That
translates into an ability to help
our customers and communities
succeed and deliver long-term value
for our stakeholders.
In 2013, our workforce included
45,364 associates and our company
received several significant recognitions
as a best place to work. We were
We recruit, retain, and provide
advancement opportunities for our
associates, offering many ways in which
they can build rewarding careers with
the company. At Capital One, we believe
that giving people a great environment
requires that our workplace be open,
inclusive, collaborative, and diverse along
multiple dimensions including thought,
ethnicity, experience, and backgrounds.
honored to be included among Fortune®
magazine’s 100 Best Companies to
Work For, and several of our large
regional work locations received
individual recognition as Best Places
to Work in their areas. We ranked as
one of Working Mother’s 100 Best
Companies and were named as a
Best Company for Hourly Workers,
were included in DiversityInc’s 25
Noteworthy companies, and were
SNAPSHOT
U.S. Workforce:
Total Workforce:
58% 42%
45,364
WOMEN
46
MEN
%
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DIVERSE RACES
& ETHNIC
BACKGROUNDS
OVERVIEW
U.S. | UK | CANADA | INDIA | PHILIPPINES
U.S.-Based Employees:
91%
COMPANY
PEOPLE
SM
WIN IN THE MARKET
Connect with our internal and external
customers, strengthen partnerships with
diverse suppliers, and invest responsibly
in our brand to add value to our business.
named to the Military Times’ Best
Vets list, among others.
WORKPLACE DIVERSITY
OUR APPROACH TO
DIVERSITY AND
INCLUSION
RECRUITING
Recruiting exceptional talent has
always been the highest calling for our
company. Our CEO, Richard Fairbank,
started the company with a single
guiding talent principle: Recruit great
people and give them the opportunity
to be great.
COMMUNITY
ENVIRONMENT
ELEVATE TALENT
Proactively recruit, develop, and advance
associates while providing workplace and
benefit offerings that attract and retain a
diverse workforce.
BE ACCOUNTABLE
Create an inclusive culture through
executive engagement, responsible
behavior, and comprehensive awareness
initiatives to drive behavioral alignment
and achieve our diversity goals.
RECOGNITION
APPENDIX
16
A strong workforce begins with an
effective recruiting program. We use a
three-pronged approach to recruiting
that involves broadening awareness
by promoting Capital One as a top
diversity “destination” employer,
engaging with the community, and
effectively sourcing our talent to ensure
that we attract the best people to
drive innovation and solve business
problems. Our Diversity and Military
Recruiting Programs promote Capital One
as an “employer of choice” and help us
pipeline. In 2013, Capital One engaged
sponsored events in 30 cities across the
United States.
MILITARY RECRUITING
Capital One is committed to supporting
veterans and their families, through both
challenging transition from active duty
to the civilian workforce. We partner
with the U.S. Chamber of Commerce’s
MILITARY
RECRUITING
2,000
74%
Hiring 500,000 Heroes initiative to
help veterans and military spouses
military hires
since 2011
of our military hires are
women or of diverse races
and ethnic backgrounds
(since 2012)
We provided $4.5 million over three years
to support the U.S. Chamber of Commerce’s
Hiring 500,000 Heroes initiative.
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OVERVIEW
CIRCLE OF EXCELLENCE
Our highest associate honor, this program enables our CEO to personally
recognize associates who drive extraordinary leadership, customer service,
or innovation.
with 60 professional partnerships and
hiring and assisting with the oftenSNAPSHOT
CORPORATE RECOGNITION PROGRAMS
build a robust and diverse candidate
find jobs. We introduced an external
EXCELLENCE ONE
Honors administrative professionals
for outstanding performance.
SERVICE AWARDS
Honors associates at career milestone
anniversaries: 5, 10, 20 years, etc.
LEAD THE WAY
Celebrates excellence in providing
exceptional customer service.
SPOT BONUS
Cash award offered to associates by their
manager for extraordinary contributions.
PROCESS EXCELLENCE AWARDS
Recognizes teams and individuals
for outstanding achievements in
process management.
THANK-YOU ECARDS
All associates have access to a suite
of customized eCards to thank and
recognize colleagues.
website that focuses on our military
recruiting efforts and have promoted
a suite of materials to highlight how a
veteran’s military skills can translate to a
successful career at Capital One.
A CULTURE OF OPENNESS,
RECOGNITION, AND ENGAGEMENT
Our culture is anchored in our Values
of Excellence and Do the Right Thing,
which serve as the framework for how
we work, interact with each other and
COMPANY
PEOPLE
our customers, and make decisions for
our business every day.
Our associates pledge to abide by our
Code of Business Conduct and Ethics,
and we regularly review ethics policies
and practices and remind associates
of the availability of our Ethics Line to
report anything they feel is suspicious
or out of the ordinary.
COMMUNITY
ENVIRONMENT
Great performance requires a
workplace that is open and accessible.
Our leaders practice an open-door
policy, meaning that any associate,
regardless of level, has access to
executives. We also offer associates
several different ways to provide
feedback to managers and leaders
across our businesses. Each year,
our All-Associate Survey enables
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APPENDIX
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We’ve gone to great lengths
to recruit great people and
give them the chance to
be great – as associates,
leaders, family members,
and citizens. Our success
is the result of our talented
associates doing good work
day in and day out.
associates to voice their opinions on a
variety of topics and to provide writein comments about things on their
minds. In addition, through a program
we call Voice of the Associate, frontline associates are empowered to
advocate for simpler processes or
process changes based on their
everyday experiences serving our
customers. Once they complete a form
on our internal intranet, an associate’s
feedback or question gets routed to
the appropriate line of business or
staff group for consideration. Since
its inception, the program has received
over 10,300 ideas for streamlining or
improvements and more than 520 have
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OVERVIEW
resulted in actual changes to the way
we work or serve our customers.
Capital One’s culture encourages a
focus on respect and elevating others for
work well done. We have implemented
several recognition programs in which
associates can be both informally and
formally recognized. Our highest honor,
known as the Circle of Excellence
Award, is awarded by our CEO each
quarter, and recognizes game-changing,
large-scale projects that have significant
impacts to how we operate or serve our
customers. Associates can recognize
great work by individuals through a wide
range of recognition programs.
COMPANY
PEOPLE
WORKPLACE DIVERSITY
AND INCLUSION
For us, a great place to work – one that
enables all of our associates to be their
best selves and spurs our success as a
business – is a workplace that is
diverse and inclusive. We take a broad
perspective on diversity and inclusion so
that our teams bring together individuals
with different experiences, backgrounds,
and viewpoints as they work together
to deliver breakthrough products for
our customers.
veteran status, or any other status
protected by national, federal, state,
or local law.
EQUAL OPPORTUNITY EMPLOYMENT
Capital One is an equal opportunity
employer committed to diversity in
the workplace. Capital One makes
all decisions of employment with
consideration to appropriate principles
of Equal Employment and Affirmative
Action. Capital One is committed to
hiring, developing, promoting, and
providing other terms and conditions
of employment without regard to a
person’s sex, race, color, age, national
origin, religion, physical and mental
disability, genetic information, marital
status, sexual orientation, gender
identity/reassignment, citizenship,
pregnancy or maternity, protected
With the full support of our Board of
Directors, Chair of the Board and CEO
Richard Fairbank, and executives, our
Diversity and Inclusion Strategy guides
our efforts, driving greater accountability
and promoting associate engagement.
The program is comprised of three core
principles which create a path forward
to expand our culture of inclusion:
win the market, elevate talent, and
be accountable.
COMMUNITY
ENVIRONMENT
Diversity is also about having the
long-term goal that our company and
our workforce should generally reflect
the population we serve in all of its
dimensions. By establishing a culture
that respects and values diversity, we
are able to attract and retain associates
who continually bring innovative and
fresh ideas to the table, creating longterm success for the company.
ASSOCIATE NETWORKS
Our seven Associate Networks
enable associates to celebrate their
shared culture, support each other, and
encourage continuous learning
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through personal experiences as well as
company-sponsored events. Members
and allies of these Associate Networks
also lead and participate in volunteer
initiatives with local nonprofits that align
with their area of cultural recognition.
school students for a day of activities
to inspire the students to think beyond
their immediate circumstances and to
dream big things for themselves, while
conveying practical tips for becoming
professionals and managing money.
For many of our Associate Networks,
developing future leaders and showing
them the power of diversity in action
using our workplace and associates as
examples has become a key way to make
a difference in our local communities.
For example, in 2013, both our African
American and Women’s Networks
sponsored Future Leaders Forums.
Held at our Richmond, Virginia,
and Plano, Texas, campuses, these
events brought together hundreds of
our associates and hundreds of high
We recognize the value of having a
workforce with diverse backgrounds
and experiences and believe that those
who have joined Capital One following
their military experience bring unique
qualities that are well suited to our
organization. Helping these heroes and
their spouses transition from military
to civilian jobs is a continuing focus,
whether through our own hiring or
through our support of partners like the
U.S. Chamber of Commerce’s Hiring
500,000 Heroes initiative.
SNAPSHOT
ASSOCIATE NETWORKS
AFRICAN AMERICAN | ASIAN | CAPABILITIES | HISPANIC | LGBT | MILITARY | WOMEN’S
15,000
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associates
participate in
50
total network chapters across
our geographical footprint
COMPANY
PEOPLE
RETAINING AND DEVELOPING
OUR ASSOCIATES
Recruiting and retaining exceptional
talent has always been a top priority
for Capital One and involves a
combination of factors – chief among
them benefits and other offerings that
clearly demonstrate our commitment
to being an employer of choice and
investing in our associates.
Our benefits are designed to enable
associates to grow as professionals,
participate in flexible work programs
that meet their individual schedules,
and focus on personal wellness and
the well-being of their families.
PROFESSIONAL AND
PERSONAL GROWTH
Capital One consistently receives
recognition for our training and
development programs. In 2013,
we ranked #19 in Training magazine’s
“Top 125.” Through Capital One
University, associates at all levels have
the opportunity to participate in learning
activities – from line of business-specific
skills training to personal development.
In 2013, more than 35,000 associates
participated in some type of training
activity through Capital One University.
COMMUNITY
ENVIRONMENT
For some associates, continuous
learning takes the form of pursuing
a degree. Capital One offers an
Educational Assistance Program
that provides an annual allowance
for tuition, books, and other schoolrelated fees at accredited academic
institutions. Full-time associates can
receive up to $5,000 per year and
part-time associates can receive up to
$2,500 per year.
One of the most important ways we can
create a pipeline of future leaders is to
develop associates today to be leaders
of tomorrow. Through several different
leadership programs, we offer highpotential associates a mix of classroom,
online, and on-the-job experiences that
expose them to the characteristics and
behaviors we look for in our leaders and
provide them with valuable real-time
feedback on their journey to leadership.
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PEOPLE | Our Associate Benefits Programs
Our Associate Benefits Programs
BENEFITS
At Capital One, we offer a broad range
of benefits and programs to ensure that
our associates have the support they
need to be healthy and productive.
FLEXIBLE WORK SOLUTIONS
For some of our associates, a traditional
work schedule or work location doesn’t
allow them the flexibility they need to
manage both their business and personal
commitments. Capital One offers a
Flexible Work Solutions Program that
provides associates flexibility with time,
location, and technology. As a result,
associate feedback on our annual AllAssociate Survey indicates that these
options increased associate satisfaction.
Our benefits are designed to help our
associates be their best selves – at work
and at home. We offer flexible work solutions
and wellness programs that help associates
find work/life balance.
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OVERVIEW
For our contact center managers
and associates, Capital One offers a
Work@Home Program. Participants
in this program work from their home
within a 100-mile radius of a
Capital One worksite using specially
configured equipment that enables
them to work virtually with no impact
in the type and quality of service they
provide to our customers and the
collaboration they experience with
other team members.
COMPANY
PEOPLE
SNAPSHOT
GET ACTIVE
Capital One has six on-site healthcare facilities to ensure the wellness of associates
and their families. And, the Get Active Program hosts special events that promote
the importance of an active lifestyle, such as the Ready, Set, Go Challenge in 2013:
13,500
Associates
WELLNESS
Our wellness programs and medical
benefits are designed to encourage our
associates to take a holistic approach
to wellness – for themselves and their
immediate family members. For
example, through the Be Well
Incentive Program, associates can earn
rewards for participating in preventive
health measures including annual
physicals, dental exams, online health
assessments, and lifestyle coaching
programs, among others.
COMMUNITY
ENVIRONMENT
3 billion
27,000
STEPS
TAKEN
POUNDS
LOST
EMPLOYEE ASSISTANCE
Sometimes, associates need specialized
support to help manage family and
personal situations. Our Employee
Assistance Program provides associates
with 24/7 access to resources, support,
and services covering a variety of topics.
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PEOPLE | Our Associate Benefits Programs
PARENTAL BENEFIT PROGRAMS
Parental Leave:
Includes eight weeks of paid maternity
leave and two weeks of paid leave for
secondary care parents. We also offer
six weeks of paid leave for adoptive
parents and foster parents.
Parent Connection:
We provide associates with helpful
resources and useful information to
assist working parents.
Child Care and
Family Care Benefits:
Our program provides back-up
or alternative care when there is
an interruption to normal care
arrangements, or interim care
is needed.
Autism Connection:
The program provides support
and information to parents with
children on the autism spectrum.
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OVERVIEW
Adoption Reimbursement:
We provide guidance and financial support
to associates who choose to build their
family through adoption. Associates can
be reimbursed up to $10,000 per child,
in addition to receiving comprehensive
adoption information and referral services.
Through our Adoption Connection online
resource, associates and their families can
network with other Capital One families with
adopted children.
SUPPORT FOR WORKING PARENTS
Beginning and expanding a family
is an important decision, and one
that can bring important decisions
about balancing work and family life.
Capital One offers a variety of programs
to support our associates who are
working parents, including parental
leave, fertility assistance, adoption
reimbursement, child and family care
programs, and associate support
programs for parents and those with
children with special needs.
OPPORTUNITIES
Capital One recruits people who want
to excel, grow, and be rewarded for their
performance. We have a longstanding
commitment to diversity and inclusion
that continues to evolve with our
businesses and directly aligns with
our corporate strategy.
We have created and will continue to
maintain a culture where collaboration,
openness, and diversity matter. All of
these things make Capital One a great
place to work and contribute to our
long-term success.
Adoption Assistance
by the Numbers:
10,000
$
10
COMPANY
assistance
per child
weeks of additional
leave (may be paid
using vacation/
PTO or unpaid)
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
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Community Impact
A look at our commitment to helping
build healthy, thriving communities
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COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
22
COMMUNITY | Community Impact
Community Impact
At Capital One, we know our business is
only as successful as the communities
we serve. We are committed to providing
those in our communities with the
support they need to achieve their
financial goals and reach their full
potential. We believe in our customers’
aspirations and we know that we play
an integral role in how they live their
lives and plan for the future.
But, we know that half of Americans feel
their dreams are out of reach.
mobility is what drives our approach to
creating increased economic opportunity.
•
80% feel they have not done
enough to save for retirement
•
94% wish they managed their
money better
•
Yet nearly a third of Americans
do not know where to start
Our approach to community well-being
is based on economic mobility research
and on years of experience working
with nonprofit partners who focus on
components of economic success:
investments in human, financial, and
social capital. We make strategic, longterm investments in community-based
partnerships that help create pathways to
steady jobs, sound financial futures, and
personal satisfaction. The organizations
we support are providing education and
job training, safe and affordable housing,
financial literacy skills-building, and small
business development.
As a local business, Capital One
is uniquely positioned to catalyze
economic opportunities for individuals,
families, and small businesses in our
communities so that together, wherever
we do business, we can help our
communities thrive.
Children who learn money management at a
young age are more prepared for success as
adults. Junior Achievement’s innovative Finance
Park brings associates together with middle and
high school students to teach hands-on financial
education lessons.
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HOW WE CATALYZE
ECONOMIC OPPORTUNITIES
The innate belief that an individual can
reach his or her potential, climb the
economic ladder, and have access to
economic opportunities that will lead to
success is the essence of our shared
American Dream. Yet some experts
believe that today’s rising adults are the
first generation in the history of our nation
that will be less economically successful
than their parents. Helping individuals and
families achieve generational economic
COMPANY
PEOPLE
We work to create meaningful impact by
providing essential banking services to
our customers and community members
including:
•
Access to mainstream banking
•
Support for small businesses,
including access to funding,
technical assistance, and
mentoring programs
•
Help with homeownership through
economic development programs
and informational seminars
COMMUNITY
ENVIRONMENT
OUR APPROACH
TO COMMUNITY
WELL-BEING
Our goal is to help people achieve
economic success. We make strategic,
long-term investments in nonprofits
delivering programs focused on building
human, financial, and social capital.
HUMAN CAPITAL
Invest in education and job skills training
to help individuals gain the knowledge
and skills they need to qualify for jobs
of today and tomorrow.
FINANCIAL CAPITAL
Invest to improve access to tools, resources,
and capital that enable individuals to enroll in
education, start a business, or own a home.
SOCIAL CAPITAL
Invest to build connections among
nonprofits, communities, and individuals
to help build a sense of belonging,
enrichment, and culture and to facilitate
solutions to social issues.
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•
Access to resources that increase
financial capabilities and financial
literacy skills for people in all stages
of their financial lives
•
Financial support for community
development programs that help
construct and rehabilitate lowand moderate-income housing
Our volunteer activities take many
forms – from one-on-one mentoring
at schools to offering our associates
opportunities to use their professional
skills to help nonprofits increase the
organizations’ capacity to deliver on
their missions.
In addition to providing essential
customer financial services that
spur economic growth, our
philanthropic programs contribute
to local organizations that improve
economic outcomes of individuals
and families.
Specifically, we work with local
organizations to:
•
Prepare students for college and
careers that provide growing wages
•
Teach people to manage personal
finances to grow their futures
•
Give people access to safe,
affordable homes
As an employer, we are helping to drive
our local economies by hiring workers
and giving them opportunities to earn
and build economically stable futures.
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ROLLING UP OUR SLEEVES
Our associates readily engage in
their communities, giving of their time
and talents in company-sponsored
volunteer activities, serving on nonprofit
boards, and sharing expertise through
pro bono service to local nonprofits.
And, while our associates are
volunteering in their communities every
day, for one week in October 2013 we
celebrated volunteering in an event called
OneWeek. During that week, more than
19,000 associates volunteered nearly
60,000 hours of community service,
participating in 1,300 companysponsored community activities.
Giving back and volunteering have been a part of our company from the beginning, and our associates
are proud of the work we do in our communities. In 2013, associates spent 360,000 hours in service,
teaching financial education, revitalizing communities, and mentoring, among other activities.
LOCAL CIVIC ENGAGEMENT
Our approach to philanthropy and
volunteering is designed to balance
the needs of the community with the
strategic direction of our business,
with the goal of fostering the economic
vitality of our communities.
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
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EXECUTIVE BOARD
LEADERSHIP PROGRAM
We are committed to helping our
nonprofit partners increase their
capacity to serve the residents of our
communities with our Executive Board
Leadership Program. Through this
program, we place our executives on
national and local nonprofit boards
where they can apply their business
acumen and leadership skills to
improve the community. These talented
individuals offer insight and knowledge
to our nonprofit partners, helping
them build business plans that bring
their goals closer to realization. Our
executives benefit from applying their
skills in a different environment and
increasing their professional networks,
while the company is able to strengthen
its ties to the community.
A PLACE-BASED APPROACH
Neighborhoods are unique, and our approach to serving them is multifaceted based on the opportunities to help drive economic opportunity
and revitalization. We start by learning about the barriers to success, and then use our resources and influence to connect community and civic
leaders, nonprofits, our incredible associates, and our business lines.
FOCUS ON GENTILLY: NEW ORLEANS, LA
New Orleans is a special place for so many reasons, but for us it is home for some of our associates. Gentilly is a neighborhood of New Orleans
that’s full of culture and pride of place. In the early days following Hurricane Katrina, as the needs of the New Orleans area began to emerge,
we began a long-standing commitment to help New Orleans and the neighborhood of Gentilly to rebuild.
Over the past four years, we have connected and built relationships with 29 local nonprofits with a vision for bringing this historic neighborhood
back to life. Together our work has included:
High-Quality Early
Childhood Education:
Using New Market Tax Credits (NMTCs),
we provided low-cost financing to help
build Educare, a new state-of-the-art early
learning center in the neighborhood. This
facility serves 150 neighborhood kids as
well as offers employment opportunities
to neighborhood residents.
Affordable Housing:
In partnership with the Bayou District
Foundation, Capital One associates
helped rebuild neighborhood homes
following Hurricane Katrina.
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COMPANY
PEOPLE
Job Skills Training:
With Educare, we provided courses leading
to Child Development Accreditations, offering
intensive training, 120 classroom instruction
hours, test preparation, and credentialing
assistance.
Money Management Skills Training:
With local nonprofits we initiated the Gentilly
Financial Literacy Program. Capital One
associates held eight courses that were
open to all residents and offered a savings
account/incentive program (2:1 match for
$25 initial deposit) to each graduate.
Business Owner Support:
With the Urban League of New Orleans,
we initiated the “Grow Gentilly” Business
Plan Competition. We provide pro bono
business consulting, 250 hours of training
and educational workshops, and coaching
services to program participants.
COMMUNITY
ENVIRONMENT
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APPENDIX
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COMMUNITY | Increased Access to Banking
Increased Access to Banking
Often low- and moderate-income
neighborhoods lack easy access to
traditional banking facilities, which leaves
some residents with few options for safely
managing money. At Capital One, we
make providing full-service banking to
low- to moderate-income neighborhoods
a key part of our commitment to help
residents realize their financial goals.
GRAMEEN AMERICA®
Capital One partners with Grameen
America to help people living in poverty
become economically self-sufficient.
Grameen America is the U.S. affiliate
of Grameen Bank, an international
organization providing micro-financing
to entrepreneurs living in poverty.
Through significant grants, we support
Grameen’s efforts to expand their
national footprint and train new talent
to serve their cause. Our partnership
with Grameen has resulted in 4,500
borrowers, across four branches in
LENDING CIRCLES:
MISSION ASSET FUND
As part of our ongoing commitment to
financial education and asset building,
Capital One supports the San Franciscobased Mission Asset Fund (MAF)
and its focus on Lending Circles, a
social lending program that improves
the financial well-being of low- and
moderate-income communities. The
organization’s model is based on the
tradition of peer lending that is common
in immigrant communities, in which
individuals engage in borrowing and
lending with their peers. MAF formalizes
the loans to bolster the effectiveness
of the process and provides financial
education to community members.
MAF also reports loan payments to
credit bureaus to build credit history
and open up doors for more established
forms of lending. Capital One is
supporting the program’s expansion
into the Washington, D.C., area.
New York, New Jersey, and Texas,
opening up no-fee savings accounts
at Capital One. We also have provided
Our bankers are engaged in their communities and understand the social issues community
residents face. In low- to moderate-income communities, they work to increase access to banking
for residents and connect those residents with resources and tools to help them increase their
money management skills.
“Ensuring entrepreneurs and small businesses have access to
affordable financing is vitally important to job growth and economic
vitality in our communities.”
more than $1 million in low-interest
—Keri Gohman, Executive Vice President
Capital One Small Business Banking
loans for re-lending.
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COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
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COMMUNITY | Affordable Housing
Affordable Housing
Capital One supports affordable housing
initiatives through a comprehensive
approach centered on healthy
neighborhoods. We are working to prevent
homelessness, increase homeownership,
stabilize vacant properties, and provide
viable rental housing.
MORTGAGES
In November 2013, Capital One acquired
Beech Street Capital, a privately held,
national originator and servicer of
Fannie Mae, Freddie Mac, and FHA
multifamily commercial real estate loans.
Multifamily lending is a key segment for
the Commercial Real Estate business,
providing Commercial mortgages on
apartment buildings and other multifamily
residential complexes. With the addition
of Agency Lending capabilities, our
Commercial Real Estate Business is a
top-five multifamily originator.
Through our Community Mortgage Team,
we offer low- and moderate-income
consumers portfolio mortgage loans that
leverage multiple subsidies to make home
ownership affordable. Our specialty loan
officers provide high-touch, one-on-one
service to clients to ensure that customers
succeed in their homeownership quest.
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Our loan officers work closely with area
nonprofits and together build customized
solutions to respond to local credit needs.
In 2013, the Capital One Home Loans
team also expanded its efforts to
provide mortgage financing to support
low- and moderate-income families
and communities, resulting in 8,438
units totaling $580 million in volume.
The increased volume was driven by
differential efforts including unique
product offerings such as closing cost
assistance and discounted home equity
loans, targeted consumer outreach, and
home purchase and refinance events in
Capital One Bank branch locations.
Together with the Capital One
Foundation, we announced a $5
million effort with eight of the nation’s
leading nonprofit housing organizations,
including NeighborWorks America,
National Urban League, and Volunteers
of America, to provide education and
counseling services for homeowners
and affordable housing for residents
in need.
COMPANY
PEOPLE
HOMEBUYERS CLUBS
In Houston, Dallas, and New Orleans,
Capital One is finding new ways to
reach low- and moderate-income
individuals who are struggling to
become homeowners. Together with
area nonprofits, we are supporting
“Homebuyers Clubs,” which enable
prospective homeowners to meet
with financial advisors free of charge
every month. The advisors address
credit, financial debt, and savings
challenges that are common obstacles
to attaining homeownership.
CONSTRUCTION LOANS
We provide construction loans to
nonprofit affordable housing developers
to create more homeownership
opportunities for low- and moderateincome individuals and families.
The average loan size we provide is
$500,000. In 2013, Capital One’s
construction loans were centered
primarily in and around New Orleans.
NEIGHBORWORKS AMERICA
NeighborWorks America, one of the nation’s leading nonprofit community development
corporations, and the Capital One Foundation have forged a partnership to support
neighborhood stabilization in communities across the country. A $175,000 grant from
the Capital One Foundation supports a variety of programs including the launch of the
“Neighborhood Marketing Initiative,” which is designed to help communities better market
themselves to bolster housing demand and increase private sector investment, especially
in those neighborhoods hardest hit by foreclosure. The funds will also support scholarships for
nonprofit professionals to attend the NeighborWorks Training Institute.
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
27
COMMUNITY | Affordable Housing
COMMUNITY FINANCE
Capital One’s Community Finance Team
manages a $4 billion portfolio focused
on business development, underwriting,
loan and investment administration, and
portfolio management. Through our
Community Finance team, Capital One
uses its financing ability to construct
affordable communities. We are an
investor and lender to affordable housing
developments built by nonprofits, local
agencies, and specialty developers.
By financing smaller nonprofit
developments, we are better able
to address critical community needs
through flexibility and innovation.
While many low- and moderate-income
families aspire to homeownership, they
often require affordable, quality rental
housing while working to achieve their
goal. We work with local developers
to invest in opportunities that provide
affordable rental housing and create
local jobs. In 2013, Capital One
provided $1.37 billion in loans and
investments, creating 16,000 safe,
affordable places to live, and more
than 19,500 jobs across our markets.
SOCIAL PURPOSE IN ACTION:
SUGAR HILL, HARLEM, NY
Affordable housing is a scarce commodity in many U.S. cities, including in the New York City
area. Working with the Broadway Housing Communities (BHC), a nonprofit affordable housing
developer, Capital One, along with government and nonprofit and philanthropic organizations,
provided the funding to construct a mixed-used development called Sugar Hill. Located in
Harlem, the initiative brought:
•124 new, affordable housing units to the neighborhood for families earning less than
80% of the area median income
•A new community space for the Sugar Hill Children’s Museum of Art and Storytelling
•An early childhood center
•Space for social service providers to deliver on-site services
“Investing in affordable
housing, which is in short
supply, is about more than
just financing construction
– it’s expanding economic
opportunity for individuals,
families, and communities.”
As part of this effort, we developed
the “Social Purpose Program,” through
which we provide grant funding
to support resident programs. The
program is designed to encourage the
development of affordable housing that
creates a true community and offers
residents a chance at a better life.
—Laura Bailey,
Managing Vice President
Capital One Community Finance
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COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
28
COMMUNITY | Support for Small Businesses
Support for Small Businesses
Businesses, especially small businesses,
play an important role in the vitality
of our communities. They provide
employment opportunities, spur
economic growth, and generally serve
as a bellwether for the community.
Given the important role small businesses
play in our communities, we are committed
to helping businesses of every size grow
and expand – from youth entrepreneurs
to established small businesses.
SNAPSHOT
And, to grow and expand, we believe
that small business owners need
increased access to capital and
access to mentors and coaches.
helping small business owners build
viable businesses, Capital One provides
low-interest, flexible loans to help
capitalize small business loan funds.
INCREASED ACCESS TO CAPITAL
Community Development Finance
Institutions (CDFIs) specialize in lending
to small businesses that do not yet
meet the underwriting standards of
large banks. Because we understand
the unique role that CDFIs can play in
Through Capital One’s Small Business
Second Look Program, launched in
2007, we partner with CDFIs to boost
the flow of credit to businesses that are
not yet bankable. The CDFI partners
provide referred clients with technical
assistance and the opportunity to
access financing. Through this flexible
program, small business loan applicants
who are declined due to the bank’s
underwriting guidelines may be referred
to select, approved, nonprofit lenders
for a “second look.” Approved nonprofit
lenders help applicants secure financing
and provide the technical assistance to
grow their business.
SMALL BUSINESS GROWTH
Our strategy is to provide comprehensive support for small businesses
across the growth continuum.
YOUTH
ENTREPRENEURSHIP
College and
community college
practical learning
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PRE START-UPS
Access to technical
assistance and
business services
MICRO
BUSINESSES
Access to
technical
assistance
and capital
COMPANY
ESTABLISHED
SMALL BUSINESSES
Access to business
support services,
networks and
growth capital
PEOPLE
Technology can greatly enhance the
way in which a business operates. We
look for and invest in partners that are
using technology in innovative ways to
connect small business owners with
access to capital. We partner with the
Accion Network, the largest nonprofit
network in the U.S., to support their
work to use technology to enhance
lending to entrepreneurs. Capital One
COMMUNITY
ENVIRONMENT
DREAMS
TO REALITY
Since 2007, Capital One’s Small Business
Second Look Program has:
•Referred 2,300 small businesses to
microfinance partners
•Loaned $8 million in low-cost funds
to 14 microfinance partners
•Those partners have loaned $7.4 million
to 279 businesses
funding is allowing Accion to set up
four pilot programs, each designed to
enhance the speed and efficiency of the
lending process, and thereby widening
the scope of qualified borrowers they
are able to reach.
Another example of how we are investing
in nonprofits that use technology to help
connect entrepreneurs with capital is
our partnership with Kiva.
Kiva is a global microlending organization
that uses the crowdfunding model. In
2013, Capital One provided $500,000
to match loans made to U.S. small
businesses by Kiva’s more than
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APPENDIX
29
COMMUNITY | Support for Small Businesses
1 million online lenders. Through the
development of Kiva City D.C. and Kiva
City Richmond, Capital One is
expanding access to financial services
for hundreds of small business owners
who lack access to capital in order to
give them an opportunity to grow their
business, accelerate job growth, and
improve their local economies. In 2013,
Capital One’s investment enabled Kiva
to reached more than 250 small
businesses and 20,000 lenders in just
nine months.
MENTORING AND COACHING
In addition to access to capital, small
business owners often can benefit
from guidance and mentoring on the
fundamentals of opening, running,
and sustaining a business. Capital One
invests in nonprofit partners that
offer programs designed to increase
the business management literacy of
business owners. The types of skills
these programs focus on include
helping business owners to:
Kiva borrowers Elizabeth “the Happy Tomato”
James with her delicious tomato sauce and
Paty Cruz, the proud owner of El Sabor
del Taco, an organic Mexican restaurant in
Columbia Heights, D.C.
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•
Develop and fortify their
business plans
•
Streamline their infrastructure
and operations
COMPANY
PEOPLE
GAINING BUSINESS MANAGEMENT SKILLS
Sometimes a business owner has a dream, but doesn’t necessarily have the skills to bring that
dream to life. That’s where a program like Capital One’s Getting Down to Business program
comes in. Designed for owners whose businesses have annual revenues of less than $1 million,
Getting Down to Business participants work with a personal financial advisor, personal banker,
and business coach. They also receive classroom instruction on networking, business plan
development, and management skills training.
Since the inception of the program,
graduates report:
•Increasing their credit scores (85%)
•Expanding their businesses and hiring
additional employees (83%)
•Increasing their savings (61%)
•Qualifying for additional funding (28%)
•
Uncover solutions to issues
that result in strengthened
businesses overall
WOMEN VETERAN
ENTREPRENEURSHIP CORPS
Capital One has committed $800,000
to support Count Me In, a leading
national nonprofit organization that
provides resources, business education,
and community support for female
entrepreneurs. In 2013, Capital One
COMMUNITY
ENVIRONMENT
and Count Me In collaborated to create
the Women Veteran Entrepreneurship
Corp (“The Corps”). The Corps is
a training and mentorship program
designed to help established women
veteran and spouses of veteran small
business owners master the daily
challenges of business ownership and
plan for future business growth.
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APPENDIX
30
COMMUNITY | Supplier Diversity
Supplier Diversity
At Capital One, we believe diversity
drives innovation in our supply chain,
and we are committed to having a
supplier base that is reflective of
our diverse associate and customer
base. To that end, we actively seek
relationships with qualified
LGBT-, minority-, and womenowned businesses.
Supplier Diversity is an integral part of
the third-party selection process. In
OUR COMMITMENT TO
DIVERSE SUPPLIERS
In 2013, Capital One’s spend with
certified diverse-owned businesses
represented over 10% of the
company’s total procurable spend.
Tier I diversity spend, which includes
businesses contracted directly by
Capital One, was predominantly
aligned with our geographic footprint.
Information Technology, Construction,
and Labor suppliers continue to be the
largest contributors to Capital One’s
supplier diversity spend.
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addition, an important aspect of the
work of our Supplier Diversity Team
is helping certified diverse-owned
businesses make connections with
companies like ours as a way to grow
their businesses. Across our footprint,
we partner with community-based
groups such as local Supplier Diversity
Councils that are focused on building
a diverse supply chain.
In addition to ensuring diverse suppliers
are included in supplier selection
decisions, we offer various programs
intended to provide them with the skills
to grow their business. Through our
mentoring and technical education
program, we have provided business
expertise and guidance to build capacity
among a diverse supplier base. These
programs work to ensure that suppliers
are well positioned to bid and win work
from Capital One and other firms.
For example, in Richmond, Virginia, we
pair business owners with Capital One
associates who serve as mentors,
helping them develop customer
analyses, marketing plans, and process
efficiencies. Since the inception of
this initiative, over 70 businesses have
successfully completed the program.
COMPANY
PEOPLE
In 2013, Capital One hosted the Women Presidents‘ Educational Organization networking reception,
An Evening of Conversations and Connections, at our corporate headquarters in McLean, Virginia.
The reception connects corporate partners with women business owners.
In 2014, we are continuing to build on
our successes and explore opportunities
to expand our supplier diversity footprint.
Two examples of this effort will be the
inclusion of veterans and people with
disabilities in our Supplier Diversity
Program. Capital One strongly believes
that the more inclusive we are in our
supply chain, the more innovative we can
be. Better, together – it is the differences
among suppliers that make us stronger.
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ENVIRONMENT
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APPENDIX
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COMMUNITY | Job Skills and Education
Job Skills and Education
nonprofit partners, we are focused on
developing strategies that:
•
Connect education and workreadiness programs with case
management preparatory services
so that individuals gain the skills
for meaningful employment
•
Actively involve local employers
to provide pathways to jobs with
upward mobility
•
Address the unique needs of
specific populations within the
larger low-income population
(veterans, ex-offenders, young
adults, and women)
Our current nonprofit partners include:
In 2013, we supported the D.C. Central Kitchen in Washington, D.C., to expand their culinary job
training program so that the program can be open to more students.
•
DC Central Kitchens
•
ARCO
At Capital One, we are committed to
helping individuals attain the skills and
knowledge necessary for a lifetime
of success. We believe education is
essential to unlocking one’s potential,
so we invest resources in human capital
programs that expand educational
opportunities for individuals of all
financial backgrounds and promote
continued learning. Through workforce
development programs, we help job
•
Easter Seals (DC/VA/MD)
•
Jobs First NYC
•
Brooklyn Workforce Innovations
•
Nontraditional Employment
for Women
•
PHI
•
United Way of Dallas
•
The Door – A Center for Alternatives
•
Greater New Orleans Foundation
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seekers develop marketable job and
leadership skills at every level.
HUMAN CAPITAL INNOVATION FUND
Supported by the Capital One Foundation,
our Human Capital Innovation Fund
invests in nonprofits who share our
vision of erasing the barriers that prevent
low-income individuals from achieving
their true earnings power. Through a
$3 million, three-year commitment to ten
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
FAFSA AND COLLEGE PREPARATION
With the increasing cost of college,
attendance often becomes a question
not only of academic preparedness
but also of affordability. Complicating
the affordability issue is the complex
process of applying for federal student
aid. Each year, millions of dollars of
federal aid are left unused because
students and their parents are unaware
of or uncomfortable with the application
process. Capital One is committed to
simplifying the process of applying for
federal student aid and helping students
make the most of available resources.
We have partnered with the Center for
New York City Affairs at the New School
to create FAFSA: The How-To Guide for
High School Students (and the Adults
Who Help Them). This user-friendly
resource decodes the Free Application
for Federal Student Aid, or FAFSA, and
answers difficult questions that students
and families frequently face.
During “FAFSA season” in 2013,
Capital One and the New School
distributed 15,000 guides to every
New York City high school and nonprofit
organization operating college-focused
programs. The guide is also available
for download online at no charge.
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APPENDIX
32
COMMUNITY | Financial Capability
Financial Capability
The economic challenges consumers
have faced over the last few years have
highlighted the critical importance of
financial knowledge and skills. Through
our efforts in communities across
our footprint and through national
relationships, we help empower
individuals of every age to take control
of their financial future by providing
a clear understanding of personal
finances, inspiring broader interest in
economics and finance, and providing
real-time information and training that
help individuals make the best
financial choices.
We provide educational materials,
such as Credit Tracker, a free online
tool introduced in 2014 that helps our
customers easily track, protect, and learn
how to strengthen their credit scores.
We also provide programs to help
individuals learn money management
skills and get out of debt. Called Debt
Boot Camp, the program connects
individuals who are committed to getting
out of debt with professional mentors
and coaches, as well as access to
tools and resources that outline steps
to eliminating debt. For those who
complete the program and who are
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eligible, Capital One provides an Individual
Development Account (IDA), which is
a type of savings account. Deposits are
matched up to $4,000.
JUNIOR ACHIEVEMENT®
AND FINANCE PARK
Since 2006, Capital One has partnered
with Junior Achievement as part of
our ongoing commitment to ensuring a
financially literate future for everyone.
Together, we have successfully
expanded the reach of Finance Park,
an award-winning month-long financial
literacy education program that
introduces personal financial planning
and career exploration to middle and
high school students. Students engage
in four weeks of classroom curriculum
that supports state and national math
and civics requirements, followed by a
full day of experiential learning during a
field trip to Finance Park where they can
put their financial knowledge to use in
a simulated city.
Throughout the course of our
partnership, we have brought the
Junior Achievement Finance Park
Program to children across the country
in a variety of platforms. While the
COMPANY
PEOPLE
SNAPSHOT
JUNIOR ACHIEVEMENT
PARTNERSHIP ACCOMPLISHMENTS
250,000
14%
students across the country have become financially
literate through Capital One and Junior Achievement’s
partnership since 2006
90%
increase on financial
management concepts
demonstrated by students
after completing the program’s
mobile version since 2010
of students surveyed after
experiencing the mobile
version said they felt more
confident in managing
personal finances
capstone learning facilities are located
full-time in six of Capital One and Junior
Achievement’s key markets to meet
demand, there also are mobile Finance
Park units that travel to four other
regions throughout the year. In 2011,
Capital One and Junior Achievement
created Junior Achievement Finance
Park Virtual, an online simulation
based on the same curriculum that
currently serves students and their
teachers in more than 20 markets.
Since the program’s inception in 2006,
Capital One’s support has allowed
COMMUNITY
ENVIRONMENT
approximately 250,000 students to learn
basic money management concepts and
apply them to life-like situations.
Additionally, Capital One and Junior
Achievement of the National Capital
Area partnered to build two permanent
Finance Park facilities that support
entire school districts. Today, every
eighth-grade student in Prince
George’s County, Maryland, and in
Fairfax County, Virginia, experiences
Junior Achievement Finance Park.
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APPENDIX
33
COMMUNITY | Financial Capability
“This has given me
a second chance in
life. If it wasn’t for
the program, I would
have dropped out of
high school.”
OPPORTUNITIES
—Former Student Banker,
Theodore Roosevelt Campus,
Bronx, New York
Our focus on helping communities
thrive through economic opportunity is
challenging, as it does not come with a set
formula for success. In each community
it involves the interaction of multiple
These students aren’t just high school students. They’re bankers! They participate in our studentrun bank program, providing banking services to the students and teachers at their high school,
teaching financial literacy skills, and participating in activities designed to help them prepare for
college attendance.
STUDENT BANKER PROGRAM
Through the Student Banker Program,
Capital One operates four student-run
bank branches in high schools in New
York, New Jersey, and Maryland.
The program, now in its eighth year,
gives high school seniors real-world
experience with money management,
as well as job experience and access
to resources to help them prepare
for college. Under the guidance of
Capital One banking professionals,
student bankers are responsible for
running all aspects of the high school
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Community development and engagement
are significant parts of our identity. We
are deeply committed to the communities
where we operate, and want to use our core
competencies, resources, and relationships
to create tangible and lasting impact for the
individuals, families, and small businesses
that need it most.
branch as well as teaching their peers
about the importance of budgeting
and saving.
Nearly all of the former student bankers
have gone on to college and have been
able to foster greater awareness about
the importance of money management
among fellow students, family members,
and their communities.
to support a multicity hackathon that
will bring together software developers
and designers to create apps promoting
financial capability. We are planning
events in Miami, San Francisco,
Chicago, and New York City.
FOR MORE
INFORMATION, GO TO:
FINANCIAL EDUCATION »
THE CITIES FOR FINANCIAL
EMPOWERMENT FUND
Capital One is working with the Cities
for Financial Empowerment (CFE) Fund
COMPANY
PEOPLE
variables starting at the individual
level and extending to major systemic
and economic issues. Our commitment
requires strategic thinking and a long-term
focus. Though tackling community-wide
economic opportunity is ambitious, our deep
engagement with individuals and nonprofit
organizations at the local level allows us to
innovate effectively and make a significant
impact on the lives of individuals, families,
and small businesses in communities
where we live and work. We are continually
learning from our experiences and taking
on new challenges.
COMMUNITY
ENVIRONMENT
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APPENDIX
34
Environmental Impact
A look at our measures to improve
the sustainability of our business
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COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
35
ENVIRONMENT | Environmental Sustainability
Environmental Sustainability
At Capital One, we are committed
to continuously improving the
environmental sustainability of our
business. Guided by our Values, we
believe we have a responsibility to
reduce the environmental impact of
our operations and business activities,
including our work with suppliers and
customers. We believe taking action
today not only reduces costs and
creates savings in the short run, but also
has significant long-term gains for our
company and can contribute to broader
efforts to mitigate climate change.
Our environmental sustainability
strategy, policies, and programs are
managed primarily by our Environmental
Sustainability Office (ESO) and our
Environmental Council, with support
from our associates. Established in
2008, the ESO promotes, supports, and
monitors corporate sustainability activities.
This includes establishing and tracking
performance against environmental goals,
metrics, and management; developing
and publishing environmental disclosures;
and engaging and managing relevant
internal and external stakeholders.
Senior business leaders on our
Environmental Council partner with the
ESO to raise awareness of practices
that create sustainable environmental
value, and to drive progress on our
environmental goals and metrics within
Our associates contribute
in numerous ways to help
protect the environment
through their involvement in
the Green Corps and local
community events. These
include planting school
gardens, collecting used
electronics for recycling, and
rescuing native species of
cactus from construction sites
and transplanting them to
a preserve.
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COMPANY
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their lines of business or departments.
Well-connected with the day-to-day
activities of the specific areas of our
business, these senior leaders use
their position to understand current
and emerging environmental risks
and opportunities.
OUR APPROACH TO
ENVIRONMENTAL
MANAGEMENT
Our associates actively engage in
our environmental work through the
Green Corps and Green Teams.
•
•
Green Corps: Thousands of
associates have joined our online
Green Corps community. They
receive “green” information and
news as well as invitations to
monthly meetings and our quarterly
Environmental Speaker Series.
Through our website, they can
share ideas and provide feedback
on our progress
Green Teams: Many of our Green
Corps members band together to
participate in local environmental
sustainability projects through our 25
Green Teams. These teams advocate
for environmentally sustainable
behavior and support educational
events, such as Earth Day® and our
green volunteering programs
COMMUNITY
ENVIRONMENT
OUR OPERATIONS
Actively working to green our facilities
and reduce energy use, water use,
and waste.
OUR PRODUCTS
AND SERVICES
Pursuing opportunities to embed
environmental sustainability in our
products and services – from better
choices in the paper we use to
communicate with customers to
an innovative digital experience.
OUR ASSOCIATES
AND COMMUNITIES
Engaging our associates in our
sustainability journey and supporting
the greening of our local communities.
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ENVIRONMENT | Sustainability in Our Operations
Sustainability in Our Operations
At Capital One, we are committed
to improving the environmental
sustainability of our operations.
This includes implementing green
renovations of existing properties,
investing in green construction for
new buildings, promoting paperless
environments, offering recycling options,
and providing greener associate travel
options, among other activities. By
investing in reducing our environmental
footprint, we can realize cost savings
as well as improve the environmental
health of our communities over the
short- and long-term.
EMISSIONS AND
ENERGY EFFICIENCY
With approximately 1,050 offices,
branches, and data centers, it is
important that we work to minimize the
environmental impact of these facilities.
We also support our suppliers,
partners, and associates in becoming
more environmentally sustainable.
Capital One joined the Environmental
Protection Agency’s (EPA) Climate
Leader program in 2008. We worked
with the program to develop our first
absolute greenhouse gas (GHG)
reduction goal that was both achievable
and aggressive compared to the
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benchmark for the financial services
sector. We achieved our original fiveyear absolute reduction target of 10%
– based on a baseline year of 2008 –
a year early, driving an 18% reduction
by 2012.
Capital One successfully met our first GHG goal and has established a new goal based on
our new footprint resulting from the HSBC U.S. credit card and ING Direct acquisitions.
In 2012, Capital One closed on the
acquisitions of HSBC’s U.S. credit
card business and ING Direct. These
acquisitions included additional facilities
and associates, which increased
Capital One’s overall corporate GHG
emissions and energy use. Following
those acquisitions, we reassessed
our GHG inventory and have updated
our baseline emissions and goals
accordingly this year. We have
established a new absolute GHG
reduction goal of 25% by 2020 from
the 2013 baseline.
To reach this goal, we plan to continue
our efforts to efficiently manage our
real estate portfolio, aggressively
drive energy efficiency programs, and
identify opportunities to source more
green power.
We are also reducing energy use through
investments in energy-efficient lighting. For
example, we cut exterior lighting energy
use by almost 50% at our West Creek
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* Scope 1 and Scope 2 emissions less renewable energy certificates
This data includes information for our operations in the U.S., Canada, UK, India, and the Philippines,
and it covers all buildings under operational control (owned or leased where Capital One directly pays
utility bills and estimates for usage in leases larger than 15,000 square feet)
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ENVIRONMENT
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APPENDIX
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Campus by installing LED lights in parking
lots and parking decks, which in 2012 and
2013 totaled about 650 fixtures.
Since 2010, Capital One has been
a member of the EPA Green Power
Partnership, and we have steadily
increased our purchases of renewable
energy certificates (RECs). Currently,
approximately 10% of our total
electricity usage comes from
renewable energy sources.
GREEN BUILDINGS
We have invested in energy-efficient
buildings and established the practice
that all new office projects will be green
certified, through either Leadership in
Energy and Environmental Design™
(LEED®) or Green Globes®. In the past
few years, we achieved green building
certifications across our physical
footprint, including several branches,
seven office sites, and two data centers.
With recent additions, approximately
50% of our office portfolio square
footage (~5.4 million square feet)
has been green certified.
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WATER
Capital One has employed a number
of water conservation measures in our
office facilities. Low-flow fixtures are a
standard in our large office construction
or renovation projects. To reduce the need
for irrigation, Capital One specifies the
use of native landscaping strategies and
surface runoff water is used to irrigate
landscaping at our headquarters building.
We reduced our water usage from
2012 to 2013. Including space where
Capital One directly pays the water bills,
our water use in 2013 was 289,844
kilo-gallons.
COMPANY
In 2013, we completed the construction of the LEED Gold Certified Meadowville Data Center
in Chesterfield County, Virginia. All of the electricity for the data center is offset through the
purchase of RECs. It also employs a range of other environmentally sustainable technologies to
minimize its environmental footprint, including geothermal heating and cooling; water-efficient cooling
towers and plumbing fixtures; hot and cold aisle containment systems; and outside air economizers.
PEOPLE
COMMUNITY
ENVIRONMENT
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APPENDIX
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are either marketed, donated, or
properly recycled. In 2013, we
kept 832,712 pounds of electronic
assets out of landfills, including
desktops, laptops, and monitors
RECYCLING IN 2013
4,322
metric tons of paper
•
832,712
pounds of electronics
MATERIALS AND WASTE
For many years, Capital One has
promoted the 3 “R”s – Reduce, Reuse,
and Recycle – throughout our workplace
with the goal to minimize the waste
going to landfills and reduce costs.
This, too, is a journey and while we
have made progress and have engaged
our associates through a number of
programs, including National Recycling
Month, we aspire to drive continual
improvements across our portfolio.
Some of our accomplishments include:
•
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Capital One is an Enterprise
e-Steward and commits to using
responsible, reputable, and
monitored e-recyclers for our
electronic assets. All computers
OVERVIEW
•
And our carpooling pilot program has
approximately 250 registered users.
Through our Work@Home and Flexible
Work Solutions Programs, we enable
associates to work from home or adjust
their work schedule to avoid peak traffic
and high emission travel times.
We continue to promote the
reduction of paper use in our
offices. We have converted many
of our printers to print duplex by
default. The majority of the paper
used in our facilities is recycled
through our secure shred program,
and in 2013, we recycled 4,322
metric tons of paper
We have begun piloting electric vehicle
charging stations at five sites. In early
2014, we joined the Department of
Energy’s Workplace Charging Challenge
Program and already have more than 60
plugs and approximately 30 electric
vehicle drivers across our portfolio.
Our business travel emissions in 2013
reflect the 33% increase in the number
of our associates over the last two years.
We encourage the use of reusable
dishes and cups in our cafes and
workplaces and promote recycling
in our office sites through the use
of single-stream recyclers
TRAVEL
We offer a number of initiatives to
promote green transit, including associate
shuttles, carpooling programs, flexible
work solutions, and electronic vehicle
charging stations. We help our associates
reduce their emissions while commuting
to and from their work at Capital One. In
2013, our shuttles provided associates
with over 62,000 rides between our
main offices and mass-transit locations.
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SNAPSHOT
BUSINESS
TRAVEL GREENHOUSE
GAS EMISSIONS
2013
32,030
(CO2e metric tons)
Largely due to our acquisitions, our
workforce grew from 34,143 in 2011 to
42,176 in 2012, and 45,364 in 2013.
In 2013, we installed 60 electric vehicle charging plugs across five sites. Our associates plugged in
~2,300 times and avoided approximately 8.7 Kg of greenhouse gas.
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ENVIRONMENT | Sustainability through Our Business
Sustainability through Our Business
We are committed to embedding
environmental sustainability in our
business activities across our value
chain. We believe this is not only good
for the environment, but it is also good
for business by meeting our customers’
demands and stakeholders’ concerns.
PAPER
We are conscious of our paper use,
recognizing that we depend on printed
materials for important business
activities such as day-to-day office work,
informing customers of their account
balances, or acquiring new customers.
Increasingly consumers are demanding
more environmentally sustainable options
and preferring online statements and
correspondence rather than printed
materials. We seek to balance these
needs and demands through our
paper procurement, consumption,
and recycling, which aim to support the
sustainability of the world’s forests and
to reduce environmental impacts.
We have taken considerable steps over
the past few years, starting with the
publishing of our first Paper Procurement
Policy in 2009, which included goals
to increase the percentage of postconsumer waste recycled content and
the percentage of Forest Stewardship
Council’s sustainable certification for virgin
sources. In late 2012, we developed a
new and more aggressive policy that
set the goal of 70% of all paper from
environmentally preferred sources by
2014 – a goal that we had achieved at
the end of 2013.
*E
nvironmentally preferred paper includes the weight of paper with post-consumer waste recycled content
or Forest Stewardship Certification (FSC™) certified paper.
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COMPANY
PEOPLE
ONLINE AND MOBILE TOOLS
Capital One encourages our customers
to take advantage of our online and
mobile banking tools. For instance, we
have upgraded our ATM devices to allow
customers to make deposits without
the need for an envelope. This reduces
the use of paper, which again reduces
emissions throughout our supply chain.
To help reduce emissions associated
with travel, we have tools and ATM fee
policies that help customers choose
the ATMs closest to them. In addition,
mobile deposit features are rolling out
to our Retail and Direct Consumer bank
customers, enabling them to deposit
checks into their accounts using their
mobile devices and digital cameras and
thereby avoiding a trip completely.
on-site renewable energy. Over the coming
years, we plan to explore opportunities
and partnerships that enable us to finance
renewable energy or environmentally
responsible businesses.
One program we currently have in place
to support our customers’ interests in
promoting environmental sustainability
is our No Hassle Giving site, where
customers can choose to support
environmental charitable organizations
based in their communities or nationally.
Capital One covers the transaction fees
so more money goes directly to the
charity. Customers can also donate their
reward points to these organizations or
use their rewards for eco-products.
PRODUCTS & SERVICES
Capital One seeks to incorporate its
environmental sustainability strategy
into our financing activities. As we see
an increase in awareness and interest
in environmentally responsible goods,
services, and organizations, we believe
that we can play a role in helping our
customers fund or make purchases that
fit these demands, such as more energyefficient devices, greener buildings, or
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
40
ENVIRONMENT | Associate and Community Engagement
Associate and Community Engagement
Associate and community engagement
are core to our journey to become more
environmentally sustainable. Many of
our associates provide their support
and leverage their skills and passions
through green events, education, and
pilot green programs.
Our associate events include quarterly
environmental speaker series, green
volunteering activities, and annual
company-wide celebrations such as Earth
Day, Earth Hour, and National Recycling
Month. Over 6,300 Capital One associates
dedicated more than 29,000 hours in
2013 to help green their communities.
Associates partnered with local
SNAPSHOT
83%
of associates perceive
Capital One as an
environmentally responsible company
9 tons
Amount of recycled materials from the
2013 associate personal e-recycling and
shred recycling event at our West Creek
and Plano Campuses
MENU
OVERVIEW
nonprofits and community organizations
on a variety of green projects, such as:
•
floor of the Capital One building. At full
capacity, the incubator works with up to
20 entrepreneurs.
Building an “edible schoolyard”
garden for students at Arthur Ashe
Middle School in New Orleans
•
Removing invasive plant species
at the Chicago Botanic Garden
•
Creating plastic yarn from old
shopping bags, to be turned into
sleeping mats for the homeless
by New Use for Old Bags
•
Planting seeds and trees at Grow
Dat Youth Farm in New Orleans
Where possible, as we make loans and
investments to developers for affordable
housing, we have the opportunity to
work with developers to incorporate
green building materials into their
projects. An example is our investment
in Castle Gardens, an apartment
building in Harlem, New York, in which
co-developers the Fortune Society and
OPPORTUNITIES
SUSTAINABLE COMMUNITY
DEVELOPMENT
As an important element of both
our community development
and environmental sustainability
approaches, we look for opportunities
to help environmentally focused small
businesses and nonprofits succeed.
For example, Capital One supports
Bethesda Green, a public-private
partnership that promotes sustainable
growth and living in Bethesda,
Maryland. The organization operates
an incubator in Montgomery County,
Maryland, for green small businesses
in its office space located on the second
COMPANY
PEOPLE
the Jonathan Rose Companies used
green materials that resulted in the
building being LEED certified. Through
a philanthropic grant and associate
volunteers, we also support Sustainable
South Bronx (SSBx), an organization
dedicated to addressing economic and
environmental issues in the South Bronx
through a combination of green job
training, community greening initiatives,
and social enterprise programs.
We believe that sustainability is a journey, and only through long-term focus
will we achieve the results we seek.
GREENHOUSE GAS GOAL
We achieved our original five-year absolute
reduction target of 10% – based on a
baseline year of 2008 – a year early,
driving an 18% reduction by 2012.
We have established a new absolute GHG
reduction goal of 25% by 2020 from the
2013 baseline.
COMMUNITY
ENVIRONMENT
PAPER GOAL
In late 2012, we developed
a new policy that sets
the goal of 70% of all
paper from environmentally
preferred sources by
2014 – a goal that we had
achieved at the end of 2013.
RECOGNITION
APPENDIX
41
ENVIRONMENT | Environmental Data
Environmental Data
WATER USE
GREENHOUSE GAS EMISSIONS AND ENERGY USE
2008
2009
2010
2011
2012
2013
N/A
N/A
N/A
N/A
293,370
289,844
Water Use
(kilo-gallons)
Greenhouse Gas
Emissions*
(Metric Tons
CO2e)
Note: Data includes buildings where Capital One directly pays the water bills
MATERIALS AND WASTE
2008
2009
2010
2011
2012
2013
Green Energy
Purchases
(MWH)
N/A
N/A
3,585
4,435
3,341
4,322
Total
Electricity
(MWH)
325,002
396,833
480,428
546,769
539,818
832,712
Paper Recycled
through
Secure-Shred
(Metric Tons)
Electronics
Diverted from
Landfill (lbs)
Scope 3 –
Business Travel
Note: Data covers our operations in the U.S., Canada, and United Kingdom
Certified Office
Space (sq ft)
2009
2010
2011
2012
2013
1,732,000
2,301,000
2,875,000
3,067,000
4,214,000
5,462,801
2009
2010
2011
2012
2013
230,989
216,024
211,146
195,799
188,365
223,491
0
6,581
13,131
29,629
33,220
41,789
387,520
365,470
362,969
358,220
393,024
456,010
N/A
N/A
N/A
23,136
25,992
32,030
* Scope 1 and Scope 2 emissions less renewable energy certificates
This data includes information for our operations in the U.S., Canada, UK, India, and the Philippines and it covers
all buildings under operational control (owned or leased where Capital One directly pays utility bills and estimates
for usage in leases larger than 15,000 square feet)
GREEN BUILDING
2008
2008
Note: Includes owned and leased space that has been certified through either Green Globes or LEED
PAPER SOURCING
2008
Total Paper
Used (lbs)
110,984,007
Environmentally
Preferred
Paper (%)
2009
2010
2011
2012
FOR MORE
INFORMATION, GO TO:
2013
ENVIRONMENTAL SUSTAINABILITY »
53,469,080 94,909,913 108,983,977 115,098,716 104,205,781
CARBON DISCLOSURE PROJECT »
21.1
26.8
34.8
37.4
62.5
73.2
Note: Environmentally preferred paper includes the weight of paper with post-consumer waste or Forest Stewardship
Certification (FSC) certified paper
MENU
OVERVIEW
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
42
Recognition
MENU
OVERVIEW
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
43
RECOGNITION | Awards and Recognition
Awards and Recognition
In 2013, we were honored by a variety
of organizations and publications
for our employment and business
practices, and community involvement
efforts. Listed below is a representative
sample of awards and recognitions
the company received.
EMPLOYEES/WORKPLACE
•
Fortune magazine included
Capital One on its World’s
Most Admired Companies
•
Forbes® listed the company
on its list of America’s Most
Reputable Companies
•
Capital One was honored to be
named one of Fortune magazine’s
“100 Best Companies to Work For,”
not only in the U.S. but also in
the UK
•
MENU
OVERVIEW
We were once again included
among the Working Mother®
magazine’s “100 Best Companies”
•
Once again Capital One received
a score of 100% on the Human
Rights Campaign’s Equality Index
•
In recognition of the investment
we make in developing our
associates, Training magazine
included the company in its
“Training Top 125” list
•
The Maryland and Washington,
D.C., Minority Supplier Development
Council recognized Capital One as
Development Leader of the Year
ENVIRONMENT
•
EPA’s Green Power Partnership
included Capital One on its Top
Fortune 500 Green Power List
•
Our diversity initiatives have also
been recognized by the Human
Rights Campaign Foundation and
the Human Rights Commission
•
•
We’re proud to include military
veterans among our workforce,
and we received recognition from
several publications, like Military
Times, US Veterans Magazine, and
G.I. Jobs, for our support of our
military veteran associates
The City of Plano, Texas,
honored the company with the
Environmental Star of Excellence
Business Award for our ongoing
effort to include green build
practices as we continued to
expand our Plano, Texas, campus
•
Six of our office locations have
received Green Globes certifications
from the Green Building Initiative
•
In March 2014, our newest data
center outside of Richmond, Virginia,
received a LEED Gold rating from the
U.S. Green Building Council
•
®
•
Capital One was once again named
to The Civic 50 list by the National
Conference on Citizenship and
Points of Light in partnership with
Bloomberg LP, recognizing the most
community-minded companies in
the S&P 500
DiversityInc® once again
recognized Capital One by
naming the company to its list
of “25 Noteworthy Companies”
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
ENVIRONMENT, SOCIAL,
AND GOVERNANCE
•
Capital One has been a member of
the FTSE4Good Index since 2009
•
The company also has been
included in other sustainably
minded investor indexes such as
iWFinancial, KLDFinancial, and
MapleCroft Index
RECOGNITION
APPENDIX
44
RECOGNITION | Awards and Recognition
CUSTOMER SERVICE
TECHNOLOGY
•
•
Capital One was named to
Information Week’s “Information
Week 500”
•
Celent honored Capital One by
including the company among its
2013 Model Bank winners. The
award is made to financial
institutions that have excellent
examples of technology innovation
and use of technology in banking
Capital One’s contact centers
received J.D. Power & Associates®
certification for our service to
our customers. This certification
confirms that the customer
experience we provide is
among the top 20% of all
financial services companies
BUSINESS
•
Kiplinger named the Venture® card
as one of the best travel rewards
cards for 2013
•
Money magazine named the
Quicksilver® card as one of the best
credit cards for 2013
•
U.S. News & World Report named
the Journey card to its list of best
credit cards for 2013
•
WalletHub rated our Checking
product highest on its
“2013 Checking Account
Transparency Report”
•
Money magazine named Capital
One Bank as one of the “Best Banks
in America” in the midsize and
business bank categories
MENU
OVERVIEW
LEED-certified Capital One Bank branch in McLean, Virginia
COMPANY
FOR A FULL
LIST OF AWARDS AND
RECOGNITION IN 2013:
CLICK HERE »
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
45
Appendix
MENU
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COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
46
APPENDIX | About This Report
About This Report
A team from across Capital One’s
corporate functions was responsible for
drafting Capital One’s Corporate Social
Responsibility Report, published in
September 2014.
This report provides an overview
of Capital One’s activities related to
environmental, social, and governance
(ESG) topics and covers the period
January 1, 2013, to December 31,
2013, unless otherwise noted.
This report should be reviewed
alongside the 2013 Capital One Annual
Report, in which we provide additional
facts, figures, and analyses.
In developing this report, we used the
Global Reporting Initiative (GRI) 3.1
sustainability guidelines as a basis
for the information contained in this
report. While this report contains
an explanation on our approach to
managing a range of environmental,
social, and governance topics,
additional corporate information can
be found on our corporate websites
(www.capitalone.com and
www.capitalone.com/environment)
and on our community-focused website
(www.capitalone.com/investingforgood).
MENU
OVERVIEW
We provide additional environmental
information through our annual
submissions to the Carbon Disclosure
Project. For additional corporate
information, please see our 2013
Annual Report and our 2014 proxy filing.
DATA MEASUREMENT
Capital One’s Environmental
Sustainability Office was responsible
for the collection of environmental
performance data. Teams embedded
across our business lines and corporate
functions, including HR, Workplace
Solutions, Community Affairs, and
Community Development Banking,
collected the non-environmental data.
The accuracy of the data was reviewed
and validated in accordance with our
internal practices.
EXTERNAL ASSURANCE
Bureau Veritas North America, Inc.,
conducted an independent verification of
our energy use, green power purchases,
and greenhouse gas (GHG) emissions
that are shown in the Environmental
Sustainability section of this report.
All Capital One service marks are owned by
Capital One. All rights reserved. All third-party
trademarks used herein are owned by the
respective entity. All rights reserved.
© Copyright 2014 Capital One Services, Inc.
Our 2013 financial reporting was audited
by Ernst & Young, LLP, an independent,
registered public accounting firm.
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
47
APPENDIX | External Verification Statement
External Verification Statement
Capital One
Financial
Corporation
Capital
One
Financial
Corporation
May, 28
May
28,2014
2014
Page 22
Page
VERIFICATION STATEMENT
STATEMENT
VERIFICATION
GREENHOUSE GAS
GAS EMISSIONS
EMISSIONS
GREENHOUSE
Bureau Veritas
Inc.
(BVNA)
waswas
engaged
to conduct
an independent
verification
of the greenhouse
Bureau
VeritasNorth
NorthAmerica,
America,
Inc.
(BVNA)
engaged
to conduct
an independent
verification
of the
gas (GHG) emissions
reported
by Capital
One Financial
Corporation
(Capital
One) for the
period stated
below.
greenhouse
gas (GHG)
emissions
reported
by Capital
One Financial
Corporation
(Capital
One) for
the This
Verification
Statement
applies
to
the
related
information
included
within
the
scope
of
work
described
below.
period stated below. This Verification Statement applies to the related information included within the scope
of
work
describedofbelow.
The
determination
the GHG emissions is the sole responsibility of Capital One. BVNA’s sole responsibility was to
GHG
VerificationProtocols
Protocols
used
to conduct
the verification:
GHG Verification
used
to conduct
the verification:
ISO14064-3:
14064-3: Greenhouse
-- Part
3: Specification
with guidance
for thefor
validation
and verification
•• ISO
Greenhousegases
gases
-- Part
3: Specification
with guidance
the validation
and of
greenhouseofgas
assertions gas assertions
verification
greenhouse
provide independent verification on the accuracy of the GHG emissions reported, and on the underlying systems and
Level of Assurance and Qualifications:
Level of Assurance and Qualifications:
The determination of the GHG emissions is the sole responsibility of Capital One. BVNA’s sole
processes used to collect, analyze and review the information.
responsibility was to provide independent verification on the accuracy of the GHG emissions reported, and
Boundaries
of the systems
reportingand
company
GHG used
emissions
covered
by theand
verification:
on
the underlying
processes
to collect,
analyze
review the information.
•
•
Operational Control
Boundaries
of the reporting company GHG emissions covered by the verification:
•
•
•
GHG Verification Methodology:
GHG Verification Methodology:
Scope 1 and 2 emissions from Offices (>15,000 square feet) , Data Centers, Retail Branches and Fleet
•
Operational
Control
(chartered bus
shuttles, leased vehicles and planes)
Scope 1 and 2 emissions from Offices (>15,000 square feet) , Data Centers, Retail Branches and
• Fleet
Scope(chartered
3 emissions
from
Business
Travelvehicles
and Upstream
Transportation and Distribution (shipping of mail
bus
shuttles,
leased
and planes)
and packages)
• Scope
3 emissions from Business Travel and Upstream Transportation and Distribution (shipping of
maildata
andverified:
packages)
Emissions
•
Scope1:
2: 16,829
232,703metric
metric tons
tons of
2 equivalent
Scope
of CO
CO2
equivalent
Scope
Scope2:
3: 232,703 metric tons of CO2 equivalent
Scope 3:

Category 6 - Business Travel (air, rail, car): 32,030 metric tons of CO 2e
-- Category 6 - Business Travel (air, rail, car): 32,030 metric tons of CO2e

Category
9 - Upstream
Transportation
andDistribution
Distribution (shipping
(shipping ofofmail
packages):
43,875
-- Category
9 - Upstream
Transportation
and
mailand
and
packages):
43,875
of CO 2e
metricmetric
tons tons
of CO2e
•
It is our opinion that Capital One has established appropriate systems for the collection, aggregation and analysis of
Itquantitative
is our opinion
that Capital One has established appropriate systems for the collection, aggregation
data for determination of these GHG emissions for the stated period and boundaries.
and analysis of quantitative data for determination of these GHG emissions for the stated period and
boundaries.
Statement of independence, impartiality and competence
Statement
independence,
competence
The Bureauof
Veritas
Group is animpartiality
independentand
professional
services company that specializes in Quality, Health,
Safety, Social and Environmental management with over 180 years history in providing independent assurance
Emissions offset from the purchase of Renewable Energy: 26,041 metric tons of CO2 equivalent
The
Bureau Veritas Group is an independent professional services company that specializes in
services.
Quality, Health, Safety, Social and Environmental management with over 180 years history in providing
No
member
the verification
team has a business relationship with Capital One, its Directors or Managers beyond
independentofassurance
services.
January 1, 2013 to December 31, 2013
Period covered by GHG emissions verification:
GHG Reporting Protocols against which verification was conducted:
January
1, 2013 to December 31, 2013
World Resources Institute (WRI)/World Business Council for Sustainable Development (WBCSD)
that required of this assignment. We conducted this verification independently and to our knowledge there has been
no conflict
of of
interest.
No
member
the verification team has a business relationship with Capital One, its Directors or Managers
beyond
that required of this assignment. We conducted this verification independently and to our
The Bureau Veritas Group has implemented a Code of Ethics across the business to maintain high ethical standards
knowledge
been nobusiness
conflictactivities.
of interest.
among staff there
in theirhas
day-to-day
Greenhouse
Gas Protocol
(Scope
1 and
2)
GHG Reporting
Protocols
against
which
verification
was conducted:
••
•
WRI/WBCSD Greenhouse Gas Protocol Corporate Value Chain (Scope 3) Accounting and Reporting
World
Resources Institute (WRI)/World Business Council for Sustainable Development (WBCSD)
Standard (Scope 3)
Greenhouse Gas Protocol (Scope 1 and 2)
Climate Leaders
GreenhouseGas
GasProtocol
InventoryCorporate
Protocol (Renewable
Energy)
WRI/WBCSD
Greenhouse
Value Chain
(Scope 3) Accounting and
Reporting Standard (Scope 3)
Climate Leaders Greenhouse Gas Inventory Protocol (Renewable Energy)
B u r e aVeritas
u V e r iNorth
t a s NAmerica,
o r t h A mInc.
erica, Inc.
Bureau
Health,
Safety,and
andEnvironmental
Environmental
Services
Health, Safety,
Services
Raritan
Floor, 110
110Fieldcrest
FieldcrestAvenue
Avenue
RaritanPlaza
Plaza I,I, 4th
4th Floor,
Edison, NJ 08837
Edison, NJ 08837
MENU
OVERVIEW
is not a fair representation of the GHG emissions data and information; and
• is not a fair representation of the GHG emissions data and information; and
hasnot
not been
been prepared
with
thethe
WRI/WBCSD
GHGGHG
Protocol
Corporate
Accounting
and
•• has
preparedininaccordance
accordance
with
WRI/WBCSD
Protocol
Corporate
Accounting
Reporting
Standard
(Scope
1 and 2)
and WRI/WBCSD
Greenhouse
Gas Protocol
Corporate
Chain
and
Reporting
Standard
(Scope
1 and
2) and WRI/WBCSD
Greenhouse
Gas
ProtocolValue
Corporate
Accounting and Reporting Standard (Scope 3).
Value Chain Accounting and Reporting Standard (Scope 3).
Period covered by GHG emissions verification:
•
and
Audit of sample of data used by Capital One to determine GHG emissions.
Audit of sample of data used by Capital One to determine GHG emissions.
Based on the process and procedures conducted, there is no evidence that the GHG emissions assertion shown
•
Emissions offset from the purchase of Renewable Energy: 26,041 metric tons of CO 2 equivalent
Other
data
verified:
•
•
Based on the process and procedures conducted, there is no evidence that the GHG emissions assertion
above:
shown above:
than historical in nature.
••
Interviews with relevant personnel of Capital One ;
Assurance Opinion:
Assurance
Opinion:
Data and information supporting the Scope 3 GHG emissions assertion were in some cases estimated
Other data
rather
thanverified:
historical in nature.
•
Interviews with relevant personnel of Capital One ;
Review
of Capital
and information
systems
and methodology
for collection,
aggregation,
• •Review
of Capital
OneOne
data data
and information
systems
and methodology
for collection,
aggregation,
analysis and
analysis
and review
oftoinformation
usedemissions
to determine
GHGOne
emissions
at Capital
review
of information
used
determine GHG
at Capital
Headquarters;
and One Headquarters;
information
supportingthe
theScope
Scope 1
1 and
emissions
assertion
werewere
historical
in nature.
DataData
andand
information
supporting
andScope
Scope2 2GHG
GHG
emissions
assertion
historical
in
nature.
Data and information supporting the Scope 3 GHG emissions assertion were in some cases estimated rather
•
•
• •Review
of documentary
evidence
produced
by Capital
One; One;
Review
of documentary
evidence
produced
by Capital
•
Scope
1: verified:
16,829 metric tons of CO 2 equivalent
Emissions
data
••
••
•
Limited
• Limited
Qualifications: None
•• Qualifications:
None
The
Veritas
has implemented
Code
of Ethics
across the
business
to maintain
high
ethical
The Bureau
verification
teamGroup
has extensive
experiencea in
conducting
assurance
over
environmental,
social,
ethical
and
standards
staff in their
day-to-day
business activities.
health and among
safety information,
systems
and processes,
has over 20 years combined experience in this field and an
excellent understanding of the Bureau Veritas Group’s standard methodology for the verification of greenhouse gas
The
verification
emissions
data. team has extensive experience in conducting assurance over environmental, social, ethical
and health and safety information, systems and processes, has over 20 years combined experience in
this field and an excellent understanding of the Bureau Veritas Group’s standard methodology for the
verification of greenhouse gas emissions data.
Main: (732) 225-6040
Main: (732) 225-6040
Fax: (732) 225-4577
Fax: (732) 225-4577
www.us.bureauveritas.com
www.us.bureauveritas.com
COMPANY
PEOPLE
COMMUNITY
ENVIRONMENT
RECOGNITION
APPENDIX
48
APPENDIX | External Verification Statement
Capital
One
Financial
Corporation
Capital One
Financial
Corporation
May, 28
May
28,2014
2014
Page
Page 33
Attestation:
Attestation:
Jyoti R. Agarwal,
Verifier
Agarwal, Lead
Lead Verifier
Senior
Consultant
Senior Consultant
Bureau
VeritasNorth
North
America,
Bureau Veritas
America,
Inc.Inc.
Edison,
NewJersey
Jersey
Edison, New
Lisa
LisaBarnes,
Barnes,Technical
Technical Reviewer
Reviewer
Technical
TechnicalDirector,
Director,Climate
ClimateChange
ChangeServices
Services
Bureau
NorthAmerica,
America,Inc.
Inc.
Bureau Veritas
Veritas North
Denver,
Denver, Colorado
Colorado
May
28,2014
2014
May 28,
This verification statement, including the opinion expressed herein, is provided to CAPITAL ONE and is solely for the benefit of
This
verification statement, including the opinion expressed herein, is provided to CAPITAL ONE and is solely
CAPITAL
ONE inofaccordance
with the
of our agreement.
We consent
the release of
this
statement
to the of
Carbon
for
the benefit
CAPITAL ONE
in terms
accordance
with the terms
of ourtoagreement.
We
consent
to by
theyou
release
Disclosure
Project
order
to satisfy
the terms Project
of CDP disclosure
but without
accepting
or disclosure
assuming any
this statement
by(CDP)
you tointhe
Carbon
Disclosure
(CDP) in requirements
order to satisfy
the terms
of CDP
responsibility orbut
liability
on our
part to CDP
or to any other
who may have
access on
to this
requirements
without
accepting
or assuming
anyparty
responsibility
or liability
ourstatement.
part to CDP or to any other
party who may have access to this statement.
MENU
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COMPANY
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ENVIRONMENT
RECOGNITION
APPENDIX
49

In Pursuit of the Greater Good

Transcription

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