Home Materiality and ESG Strategy

Materiality and ESG Strategy

We are proud to share the results of our first materiality assessment, which was conducted in 2021 with the support of an external consultant. We began the process by identifying internal ESG topics recognized by peer companies, ESG standard setters and industry guidance. We then narrowed a list of over 250 topics to the 17 topics we identified as most material to Fiserv. To determine the relative importance of each topic, we engaged with internal and external stakeholders to gather their insights. We then aggregated their perspectives to determine which topics were most critical to our stakeholders and our business. The final list of material topics forms the foundation of this year’s report and will play a major role in our ESG strategy moving forward.

Stakeholder Perspectives in the Materiality Process

  • Fiserv Executives
  • Operations
  • Communities
  • Customers, Clients and Members
  • Employees
  • Investors
  • Suppliers

*In this report, our use of the term “materiality” refers to topics significant to economic, sustainability, environmental, social and governance issues. We are not using the term “materiality” in the context of financial reporting, financial statements, or other public securities or investment disclosures, or as it is used under the securities or other laws of the United States or any other jurisdiction.

Environment
Topic Definition
Climate Change Risk Forecasting and adapting to the physical and transition risks posed by climate change such as disruptions to supply chain, impacts from price of carbon and operational impacts.
Energy and Emissions Managing the energy and emission consumption and intensity of operations and supply chain by implementing measures such as increasing energy efficiency, renewable energy adoption and supply chain engagement.
Innovation for Sustainability Creating environmental or social benefits through new or improved products and services such as innovating new products to reduce customers’ carbon emissions or positive social impacts through products that contribute to economic inclusion, financial health and social well-being.
Waste Management Managing the waste generated as a result of operations, and employing appropriate programs to reduce waste from landfills, and maximize the recycling and reuse of materials.
Waste Stewardship Managing water consumption and wastewater discharge-related impacts by monitoring water use and implementing efforts to reduce consumption in data centers and facilities, especially in water-stressed areas.

Social
Topic Definition
Community Investment and Social Innovation Fostering relationships and promoting social vitality in communities by investing in community-based initiatives such as corporate giving, employee volunteering, employee matching programs, entrepreneurship programs, community service and educational development.
Diversity, Equity and Inclusion Maintaining a culture that promotes diversity, equity and inclusion, recognizes and creates opprtunities to utilize talent, skills and perspectives in our workforce, and champions supplier diversity, in order to develop an inclusive business that reflects our communities and the markets and clients we serve.
Health, Safety and Wellness Keeping our people healthy and safe by ensuring compliance with regulations, conformance with company policies and enabling programs that incentivize greater employee well-being.
Human Rights Maintaining labor practices that support human rights (such as anti-slavery, anti-trafficking, freedom of expression, freedom of association and collective bargaining) by regularly monitoring and assessing supply chain, conducting internal audits and compliance training.
Talent and Future Workforce Committing to investing in our workforce by attracting, developing and retaining talent while creating a shared vision and purpose that recognizes contributions of the workforce and drives shared value.

Governance
Topic Definition
Access to Finance Expanding financial services to create a more inclusive digital economy for individuals, underserved and underbanked communities, and businesses by lowering the barriers to access financial services and increasing financial literacy.
Assisting Small Businesses Providing support for diverse and small-to-medium-sized businesses through grants, access to loans, digitalization, strategic partnerships and entrepreneurial assistance.
Cybersecurity Maintaining robust management systems, processes, and policies to safeguard data and digital operations.
Ethics and Compliance Operating with integrity and complying with relevant regulations and the highest standards of ethical and lawful conduct; adhering to our code of conduct and business ethics.
Governance and Accountability Providing a strong risk management structure that enables effective governance, appropriate oversight, transparency, fair executive compensation and clear accountability.
Privacy and Data Security Ensuring the security, integrity and confidentiality of our client, supplier and employee information.
Responsible Sourcing Assessing and managing the supply chain through supplier diversity and ethical procurement policies, environmental and social assessments, and other ESG-related risk considerations.

ESG Pillars

After compiling our list of material topics, we embarked on developing our ESG strategic framework. We positioned our list of material topics against our cultural framework and grouped the material topics under four pillars to better align with our company values and business objectives. Our four ESG pillars are:

  1. Empower People
  2. Advance Communities and Society
  3. Champion Responsible Business Practices
  4. Invest in Sustainable Systems