2022-2023

Environmental,
Social, andGovernance ReportTABLE OF CONTENTS
3 About This Report

4 A Message From Our Chairman and CEO
5 Our Approach to Corporate Sustainability
6 Our ESG Strategy and Goals
7	Highlights of Our Progress in 2022
8 Our Corporate Sustainability Journey
9 Our Community Impact Grant Opportunities
10 Our $1 Billion Sustainability Bond
11 Awards and Recognition

30 Advance Climate Solutions

74	Governance and Operating Responsibly31	Advance Climate Solutions

75	Governance and Operating Responsibly

32 Progress On Our Advance Climate Solutions Goals

76	Our Corporate Governance Framework

33 Moving to Net-Zero Emissions

77	ESG Governance

39 Managing Climate Risks and Opportunities

78	Our Executive Compensation Program

40	Supporting Our Customers in the Transition to a
Low-Carbon Future

78	Our Business Ethics

43	Building More Climate Resilient, Sustainable,
and Equitable Communities

79 Serving Our Customers Responsibly46	Promote Diversity, Equity, and Inclusion

82	Policy Engagement

47 Promote Diversity, Equity, and Inclusion

12	Build Financial Confidence
13	Build Financial Confidence
14 Progress On Our Build Financial Confidence Goals
15	Strengthening the Financial Security of Small Businesses
22 Empowering Individuals to Enhance Financial Confidence
25	Protecting Our Customers with Fraud Prevention, Data
Privacy and Security
28	Supporting Economic Growth and Resilience inCommunities

79	Risk Management

48	Progress On Our Promote Diversity, Equity,and Inclusion Goals
49	Diversity Representation and Equal Opportunity
53 Supporting Our Colleagues
57 Supporting Underrepresented-owned Businesses
61 Backing Equal Futures in Communities

63	Backing Our Colleagues

81	Operating a Responsible Supply Chain Globally

83	Supporting Data
84 Our Commitment to ESG
87	Aligning with the United Nations
Sustainable Development Goals (SDGs)
88 Advance Climate Solutions
92 Promote Diversity, Equity, and Inclusion
94 Governance and Operating Responsibly
95 Indexes

64 Backing Our Colleagues

			 TCFD Index

67 Our Workplace Culture

			 SASB Index

69 Supporting Our Colleagues’ Holistic Health and Well-being

			 GRI Content Index

72 Career Growth and Development

3

ABOUT THIS REPORTThis report covers the calendar year 2022 and provides certain qualitative and quantitative
information about our Environmental, Social, and Governance (ESG) objectives, goals andinitiatives. In some cases, we also share highlights from initiatives that were launched in early2023 to provide more up-to-date information.
When we use the terms “American Express,” “company,” “we,” “us,” or “our” in this report, we mean
the American Express Company and its subsidiaries, on a consolidated basis, unless we state, orthe context implies, otherwise. The use of the term “partner” or “partnering” in this report does
not mean or imply a formal legal partnership, and is not meant in any way to alter the terms ofAmerican Express’ relationship with any third parties. Any reference to our support of, work with,or collaboration with a third-party organization within this report does not constitute or imply an
endorsement by American Express of any or all of the positions or activities of such organization.

Reporting guidelines and content
This report follows the Global Reporting Initiative (GRI), Sustainability Accounting Standards
Board (SASB, now part of the International Sustainability Standards Board (ISSB)), and Task
Force on Climate-Related Financial Disclosures (TCFD) reporting guidelines with respect to ourpriority ESG issues. GRI, SASB, and TCFD indexes can be found in the Supporting Data sectionof this report.
In this report, the use of the term “materiality” and other similar terms is intended to reflect ourpriority ESG issues. We are not using such terms as they are used under the securities or otherlaws of the United States or any other jurisdiction, or as these terms are used in the context offinancial statements and financial reporting.
We report on ESG issues that pertain to us through this ESG Report and the American Express
Corporate Sustainability website. Additional information about our company can be found in
our Diversity, Equity, and Inclusion (DE&I) Report, submissions to the CDP (formerly Carbon
Disclosure Project), in our annual, quarterly, and current reports and our proxy statement on file
with, or furnished to, the U.S. Securities and Exchange Commission and on the American Express
Investor Relations website. Links and references included throughout the report provide direction
on where to find additional information.

This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995
which are subject to risks and uncertainties. The forward-looking statements, including the company’s aspirational ESG
objectives and goals, contain words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “aim,” “will,” “may,” “should,”“could,” “would,” “likely,” “potential,” “commit,” “continue,” or other similar expressions. Actual results may differ from those
set forth in the forward-looking statements due to a variety of factors, including: competition, brand perceptions andreputation; an inability to develop and market value propositions that appeal to Card Members and new customers; theamount and efficacy of investments in product innovations, resources, marketing campaigns and programs; changing
customer behaviors, interest in the company’s products, resources and programs, and willingness to access capitalprovided by the company, spend money at small businesses, and value environmentally and socially responsible products
and services; management’s inability to identify suitable suppliers, grantees, partners and community investments andnegotiate acceptable terms; the actual amount the company spends with suppliers, on ESG initiatives and to makeappropriate salary adjustments, all while implementing operating expense control initiatives; an inability to build
partnerships and execute programs with other companies and of partners to meet their obligations to the company;changes in developing standards and certifications; the cost and availability of renewable energy, carbon removal andcarbon offset projects, energy attribute certificates, certified paper, and green buildings, and alternatives to single-use
plastic; supply chain and market disruption; regulation; potential M&A activity; severe weather conditions, natural
disasters and other catastrophic events; changes in the company’s real estate, technology, colleague and community
engagement, and risk management strategies; an inability of waste management systems to divert waste to recycling andcomposting facilities; and changes in economic or business conditions and the company’s ability to grow, improve its
financial performance and execute on its strategies. A further description of these and other risks and uncertainties canbe found in the company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”),
the company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, and the company’s other filings with
the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made. We undertake no obligation to update or revise any
forward-looking statements and statements regarding the company’s future direction and intent are subject to change orwithdrawal without notice.
Data in this report reflect estimates using methodologies and assumptions that may change in the future as a result of
new information or subsequent developments. Amounts presented are approximate unless otherwise indicated.
This report includes trademarks, such as American Express®, which are protected under applicable intellectual property
laws and are the property of the American Express Company or its subsidiaries. Solely for convenience, our trademarks
and trade names referred to in this report may appear without the ® or TM symbols, but such references are not intended
to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of theapplicable licensor to these trademarks and trade names.

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTINGDATA

4A MESSAGE FROM OUR CHAIRMAN AND CEO
American Express has a long history of giving back to
our communities. From our first philanthropic grant tohelp the victims of the Great Boston Fire of 1872 and ourcontributions to the American Red Cross War Fund during
the World War I, to engaging our colleagues through Giving
Campaigns for over 50 years, our contributions to ourcommunities have been central to our culture and arereflected in our American Express Blue Box values.
Today, American Express is continuing to build on thislegacy with our community impact work through theAmerican Express Foundation (Foundation) and our global
Environmental, Social and Governance (ESG) strategy.
Since the establishment of the Foundation in 1954, we have provided more than $1 billion
to charitable causes, including those that back small businesses, support disaster response
and recovery, and enable non-profit leaders to access career-changing opportunities. To
complement these efforts, in 2021, we developed our ESG strategy and roadmap based on
an ESG priority assessment to identify the key issues of importance for our stakeholders,
including colleagues, customers, shareholders, communities and partners. This strategy
centers around three core pillars: Build Financial Confidence, Advance Climate Solutions, andPromote Diversity Equity and Inclusion.

Over the last year, we have made significant progress on our goals, which are detailed in thisreport. Some of the highlights include:• Through our flagship Shop Small campaigns in 2021 and 2022, we helped drive an estimated$42.9 billion in reported consumer spending at small businesses in the US and UK,1 as we
progress towards achieving our $100 billion goal by 2025.
• To support a low-carbon future, we maintained CarbonNeutral® certified operations poweredby 100% renewable electricity globally since 2018. After committing to net-zero emissions by
2035 in alignment with the Science Based Targets initiative (SBTi), in 2022, we submitted
near- and long-term emissions reduction targets to the SBTi for validation.
• We maintained 100% pay equity for colleagues across genders globally and across races andethnicities in the US for the third consecutive year in 2022. We also supported over 400,000
underrepresented-owned small and medium-sized businesses in the US from October 2020
through December 2022, exceeding our initial goal of providing access to capital and financial
education to at least 250,000 businesses by 2024.
We again earned a number of notable recognitions, including ranking #3 on Great Place To
Work’s Fortune 100 Best Companies to Work For in 2023, and being named among Fast
Company’s Brands that Matter in 2022.
We have strong momentum that gives us confidence in our ability to achieve our goals andcontinue to make a positive impact in the lives of our colleagues, customers and communities.

STEPHEN J. SQUERICHAIRMAN AND CHIEF EXECUTIVE OFFICER
1. Refer to note 2 on p. 14 for more information regarding reported spend for these campaigns.

Our Approachto Corporate
Sustainability

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITYOUR ESG STRATEGYAND GOALS

BUILD
FINANCIAL CONFIDENCE• Provide access to credit to at least 4 million individuals fromunderrepresented populations from 2021 through 2025
• Provide at least 5 million individuals with tools, resources,and educational content to improve financial well-beingfrom 2021 through 2025
Minimize our climate impact and manage ourclimate-related risks and opportunities

ADVANCE
CLIMATESOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

In 2021, we launched our ESG strategy which is comprised of three core pillars:
Build Financial Confidence, Advance Climate Solutions, and Promote Diversity, Equity, and Inclusion.

Empower individuals to build and maintain their financial
well-being through products, services, tools, andeducation, while providing robust account security

BUILD
FINANCIALCONFIDENCEADVANCE
CLIMATE SOLUTIONS• Commit to net-zero emissions by 2035 in alignment with
the Science Based Targets initiative (SBTi)Strengthen the financial security and money management
capacity of small businesses through products, services,
campaigns, and initiatives• Support small businesses, including by reaching $100 billion in spendingby consumers at small, independently owned retailers or restaurants on
Small Business Saturday and during other Shop Small campaigns from2021 through 20251

Enable our customers and partners to transition to a low-carbon
economy through the development of new capabilities• Pilot low-carbon product innovations, including carbon tracking andoffset solutions• Enhance the management of climate-related risks andopportunities across the business

Enhance diverse representation, equal opportunity,
and an inclusive culture at all levels of the company• Maintain 100% pay equity across genders globally andacross races and ethnicities in the US

PROMOTE
DIVERSITY,
EQUITY, AND
INCLUSION

1. Based on spend as reported by consumers in surveys commissioned by American Express (not actual receipts or sales).

Help build resilient communities through grants,
programs, and initiatives that support economic
empowerment and equity• Invest $500 million to build more resilient andequitable communities from 2021 through 2025

Support community programs and initiatives
to help build more climate-resilient andequitable communities• Provide at least $10 million to support initiatives,
partnerships, and programs that address theadverse effects of climate change and pollution oncommunities from 2021 through 2025
• Engage our colleagues in sustainability initiatives
through the Green2Gether program

Meet the needs of underrepresented businesses and consumers
and develop more inclusive marketing initiatives

Advance racial equality and social justice inour communities• Double annual spend with underrepresented-owned suppliers in the US froma 2019 baseline to $750 million by the end of 2024, including increasing
spend with Black-owned suppliers to at least $100 million annually• Provide $50 million in grants from late 2020 through2024 to nonprofits focused on addressing inequality
and promoting social justice, including those led bymembers of underrepresented groups• Provide access to capital and financial education to at least 250,000
underrepresented-owned small- and medium-sized businesses in the US
from late 2020 through 2024
• Develop more inclusive marketing initiatives, as well as design andbuild product experiences and programs that better meet the needs ofunderrepresented consumer and business customers

6INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTINGDATAHIGHLIGHTS OF OUR PROGRESS IN 2022
Certain goals are highlighted below. Information on the progress we have made towards all of our goals can be found throughout this report.
BUILD FINANCIAL
CONFIDENCEADVANCE CLIMATE
SOLUTIONSPROMOTE DIVERSITY,
EQUITY, AND INCLUSION

2.2 Million

Net-Zero by 2035

100%

new cards (basic and supplemental) issued in the US to
Card Members from underrepresented groups from 2021
through 2022

Submitted near-term and long-term emissions reductions
targets to the Science Based Targets initiative (SBTi)2

pay equity for colleagues maintained for third
consecutive year across genders globally and acrossraces and ethnicities in the US

IN PROGRESS towards goal to provide access to credit to at least
4 million individuals from underrepresented populations from2021 through 2025

IN PROGRESS towards commitment to net-zero emissions by
2035 in alignment with SBTi

ACHIEVED 100% pay equity across genders globally and acrossraces and ethnicities in the US$595 Million$10.4 Million$758 Million

in investments, community development loans, and grants
made or to which capital was committed through theAmerican Express Center for Community Developmentfrom 2021 through 2022 to support affordable housing,small business needs, and job creationin grants provided to organizations backing
low-carbon communities from September 2021 throughDecember 2022

spent with underrepresented-owned suppliers in 2022,
including $60 million with Black-owned suppliers

EXCEEDED goal to invest $500 million to build more resilientand equitable communities from 2021 through 2025

Learn more in Progress On Our Build Financial Confidence Goals

EXCEEDED goal to provide at least $10 million in grants to backlow-carbon communities from 2021 through 2025

IN PROGRESS towards goal to double annual spend with
underrepresented-owned suppliers to $750 million annuallyby the end of 2024 and increase spend with Black-owned
suppliers to at least $100 million annually

Learn more in Progress On Our Advance Climate Solutions Goals

2. A merican Express submitted near- and long-term company-wide emissions reductions targets in line with the SBTi Corporate Manual, Version 2.0, December 2021, and SBTi Corporate Net Zero Standard, Version 1.0, October 2021, respectively.

Learn more in Progress On Our Promote DE&I Goals

7

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTINGDATAOUR CORPORATE SUSTAINABILITY JOURNEY
First documented
example of providing
aid for communities

Contributed to theAmerican Red
Cross War Fund tosupport emergency
medical relief
during World War I

1872
1860

Launched first employee
giving campaign, which
evolved into our‘Give2Gether’ program

Provided our first
financial donation onrecord, which was aphilanthropic grant tosupport victims of theGreat Boston FirePowered ouroperations with
100% renewableelectricity for the
first time3

Expanded Small
Business Saturday to
Shop Small campaigns
globally

Launched Small
Business Saturdayin US to support
economic recovery

1954
1917

Submitted first
CDP Climate
Change Response

2001
1972

Established
American Express
Foundation to
support charitablecauses2012
2010

Established World
Trade Center Disaster
Relief Fund andbecame a founding
sponsor of 9/11
Memorial Museum

2016
2013

Launched our
Healthy Minds
Program tosupportcolleagues andtheir loved ones’
mental health andwell-being

Issued $1 billion of
Sustainability
Notes to fundeligible Social andGreen Projects
Achieved
100% payequity acrossgenders
globally andacross races
and ethnicities
in the US

2019
2018

Included on
Bloomberg
Gender Equality
Index for the
first time

3. Operations include all our managed facilities, field sites, and data centers. Managed facilities are individual properties operationally managed by our global real estate team and housing critical business functions. Field sites are individual
properties that are not operationally managed by our global real estate team but directly by our business units. They are typically smaller sites, less than 30,000 square feet (including airport lounges, foreign exchange kiosks, and sales
offices), that are owned or leased by American Express. The company’s goal to remain carbon neutral covers Scope 1 (direct emissions from sources owned or controlled by American Express), Scope 2 (indirect location-based and marketbased emissions), Scope 3 emissions (Category 5 waste generated in operations and Category 6 business travel) through onsite renewable electricity generation and renewable energy credits, carbon offsets, and reduced GHG emissions.

8

2021
2020

Launched first
American Express
Card manufactured
primarily fromreclaimed plastic
collected frombeaches and coastal
communities
Set 2025 Operational
Environmental Goals
to reduce energy,
emissions, water, andwaste across ourglobal operations

2022
Launched a roadmap forour global ESG strategy,
establishing long-term goals
and objectives across threeareas of importance for ourcompany, stakeholders, andsociety: Build Financial
Confidence, Advance
Climate Solutions, Promote
Diversity, Equity, andInclusion (DE&I)
Committed to net-zeroemissions by 2035 inalignment with the Science
Based Targets initiative (SBTi)INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEOUR COMMUNITY IMPACT
GRANT PRIORITIESADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

In 2022, we announced new grant priorities that build on our legacy of community giving,
drive impact through our strategy, and support meaningful change in our communities.
Approximately $40 million in charitable giving globally was provided in 2022, including
grants from our company, the American Express Foundation, our Center for Community
Development, and gift-matching programs. Since creating the American Express Foundationin 1954, we have provided more than $1 billion to charitable causes around the world
through the Foundation and our Corporate Giving Program.

WE ARE FOCUSING OUR EFFORTS AND RESOURCES ACROSS THREE CORE PRIORITIES:
Backing Small
Grants, mentoring support, and technical assistance
supporting small business owners to build economic
vitality and foster a thriving community

9

Backing Low-Carbon Communities
Grants to promote sustainability, climate resilience, equity,and recovery in cities and disaster-prone areas globally

Please refer to the Backing Small, Backing Low-Carbon Communities, and Backing Equal Futures sections throughout this report to learn more.

Backing Equal Futures
Grants that advance economic and educational opportunities
for future generations to ensure their long-term success andability to thriveINTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

OUR $1 BILLION SUSTAINABILITY BOND
In April 2022, American Express released our Sustainability Financing Framework and in
May 2022 we issued $1 billion in principal amount of Sustainability Notes to invest in eligible
Green and Social Projects in support of our ESG strategy. As of December 31, 2022, we allocated$750 million of the $994 million net proceeds, which includes $727 million to eligible Social
Projects and $23 million to eligible Green Projects.
Examples of eligible Social Projects include expenditures
related to the procurement of products and services fromunderrepresented-owned suppliers and investments throughthe American Express Center for Community Development infunds that contribute to the financing of affordable housing
for low- and moderate-income communities. Examples of
eligible Green Projects include investments and expenditures
related to green buildings and the circular economy, including
expenditures related to the manufacturing of recycled orreclaimed plastic cards for American Express Consumer andBusiness Cards.

The Powerful
Backing ofAmerican Express
2023 Sustainability Financing Report

For more
information, refer
to our 2023
Sustainability
Financing Report

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

10

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

11

AWARDS AND RECOGNITIONS
Select awards and recognitions from 2022 and 2023

#2 on American Opportunity Index (2022)
America’s Most JUST Companies (2023)

JUST 100 List

#17 on 2023 Axios Harris Poll 100 Corporate
Reputation Study

Bloomberg’s Gender Equality Index 2023
(since 2016)

90% on Disability Equality Index & Best Places
to Work for People with Disabilities (2022)#3 Fortune and Great Place to Work list (2023)—#4 Best Workplaces for Parents—
Great Places to Work (2022)#10 Fortune World’s Most Admired Companies(2022)

Fast Company Best Workplaces
for Innovators (2022)
Fast Company Brands that Matter(2022)

100% score 2022 Human Rights Campaign
Corporate Equality Index(since 2004)

4th consecutive year in the top 10

For more information on our Workplace Awards and Recognitions,
see Backing Our Colleagues section.

THIRD-PARTY RATINGS
We monitor our performance across several
environmental, social, and governance-related ratings
and rankings. 2022 highlights:

A-

CDP (CLIMATE)AA

MSCI (ESG)
RATINGFTSE4GOOD
INDEX SERIES

Low
Risk

SUSTAINALYTICSESG RISK RATING

BuildFinancial
ConfidenceINTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSBUILD FINANCIAL CONFIDENCE
VISION
Provide responsible, secure, and transparent
products and services to help people andbusinesses build financial resilience.
At American Express, building financial confidence—for our colleagues,
customers, and communities—is a natural extension of our role as a
global payments network.
We bring our vision to life by providing small businesses and individuals
with products and services that enhance their ability to manage theirfinances and achieve financial stability and growth. We are also focusedon making credit more accessible to underrepresented communities andhelping build resilient communities by providing opportunities, tools,
and resources to support financial well-being.

PROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

14

PROGRESS ON OUR BUILD FINANCIAL CONFIDENCE GOALSSTRATEGIC OBJECTIVE

GOAL

STRENGTHEN THE FINANCIAL
SECURITY AND MONEY
MANAGEMENT CAPACITY OF
SMALL BUSINESSES THROUGHPRODUCTS, SERVICES,CAMPAIGNS, AND INITIATIVESSupport small businesses, including by reaching $100 billionin spending by consumers at small, independently owned
retailers or restaurants on Small Business Saturday and duringother Shop Small campaigns from 2021 through 20251

IN PROGRESS• $42.9 billion in estimated reported spending by US and
UK consumers at small businesses, including independent
retailers and restaurants on Small Business Saturday eventsin 2021 and 20222

Provide access to credit to at least 4 million individuals fromunderrepresented populations from 2021 through 2025

IN PROGRESS• 2.2 million new cards (basic and supplemental) issued in
the US to Card Members from underrepresented groups
from 2021 through 2022

Provide at least 5 million individuals with tools, resources,and educational content to improve financial well-being from2021 through 2025

EXCEEDED• 6.2 million individuals enrolled in MyCredit Guide
as of December 2022

Invest $500 million to build more resilient and equitablecommunities from 2021 through 2025

EXCEEDED• $595 million in investments, community development
loans, and grants made or to which capital
was committed from 2021 through 2022

EMPOWER INDIVIDUALS TO
BUILD AND MAINTAIN THEIRFINANCIAL WELL-BEING
THROUGH PRODUCTS, SERVICES,TOOLS, AND EDUCATION,
WHILE PROVIDING ROBUSTACCOUNT SECURITY
HELP BUILD RESILIENTCOMMUNITIES THROUGH
GRANTS, PROGRAMS, AND
INITIATIVES THAT SUPPORTECONOMIC EMPOWERMENTAND EQUITYSTATUSPROGRESS

1. Based on spend as reported by consumers in surveys commissioned by American Express (not actual receipts or sales).
2. Consists of estimated reported spending at US and UK Small Business Saturday events in 2021 and 2022. In the US, the American Express 2021 and 2022 Small Business Saturday Consumer Insights Surveys were conducted anonymously on November 28, 2021 and November 27, 2022, respectively, by Teneo on behalf of American
Express and the National Federation of Independent Business (NFIB). The studies are nationally representative samples of 2,426 and 2,471 US adults 18 years of age or older, respectively. The samples were collected using an email invitation and an online survey. The studies gathered self-reported data and do not reflect actual receipts orsales. The surveys have an overall margin of error of +/- 2.0%, at the 95% level of confidence. Projections are based on the current US Census estimates of the US adult population, age 18 years and over. In the UK, American Express commissioned research from Opinium, who polled 4,000 UK adults between 5 p.m. on Saturday,
December 4, 2021 and 10 p.m. on Sunday, December 5, 2021 and on Sunday, December 4, 2022. The overall spend figure was calculated by taking the average spend of those who shopped at small, local, independent shops and businesses and multiplying by the total number of UK adults. The estimated UK spend was converted from
Global British Pound (£) to US Dollar ($) based on the daily exchange rates when the surveys were conducted.

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTINGDATA

STRENGTHENING THE FINANCIAL SECURITY OF SMALL BUSINESSES
American Express has a long track record of backing small businesses
through innovative products and services to meet our customers’
evolving needs. We remain focused on strengthening the financial
security and money management capacity of small businesses globally
through products, services, campaigns, and initiatives.
Supporting small businesses worldwide through Shop Small
Shop Small is a year-round, global movement that supports small, independent businesses
and calls attention to the valuable and distinct contributions they make to their communities
and the economy. The global Shop Small campaign encourages consumers to support theirlocal independent businesses in Australia, Canada, Japan, India, Hong Kong, the UK, the US,
and other countries.
The Shop Small movement was spurred by the widespread participation in Small Business
Saturday, which was created in 2010 in the US by American Express in the wake of the financial
crisis. This shopping tradition is aimed to celebrate small businesses and drive more consumer
spending through their doors on the Saturday after Thanksgiving.
Since its launch 13 years ago, US consumers have reported spending an estimated $184 billion
at small businesses on Small Business Saturday.3

3. This spend statistic is an aggregate of the average spend as reported by consumers who shopped small on Small Business Saturday in surveys commissionedby American Express reporting spend habits on Small Business Saturday since 2012. It does not reflect actual receipts or sales. Each such survey was conducted
online among a nationally representative sample of US adults. The data was projected from the samples based on then-current US Census estimates of the US
adult population (18+).

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

16

BACKING SMALL BUSINESSES GLOBALLY THROUGH OUR SHOP SMALL CAMPAIGNSOur Shop Small campaign has global reachwith programs to back small businesses
around the world. Below are highlights fromour global Shop Small campaigns in 2022.

CanadaAlmost 100,000 Card Members enrolled in Shop Small
offers, resulting in CAD$72 million in spend at participating
merchants.

In 2022, we continued Shop Small campaigns globally toback small businesses across the world including in the UK,
Australia, Canada, Japan, Hong Kong, and India.
Local artists in Australia, Canada, Japan, Mexico, the UK,
South Africa, and elsewhere designed complimentary andcustom signage for merchants to proudly display in theirstores, on their websites, and through social media.
UK: 10 Years of Shop Small
2022 marked 10 years since the American Express Shop Small
campaign launched in the UK and the 10th year of Small
Business Saturday in that country. In recognition of thismilestone, we asked our Shop Small Ambassadors to share
their insider tips on the everyday small businesses that they
can’t live without. The Little Blue Book helps to encourage
shoppers to support their local communities. It is available
for free online and features specific recommendations, andguides readers to a map of participating small businesses.

£774
MILLIONin estimated reported spending by
UK consumers at small businesses
on Small Business Saturday. The
total spend was up nearly 30% from2021 as an estimated 12.8 million
shoppers shopped at local small
businesses.4

Australia
American Express has provided AUD$24 million and morethan 2 billion Membership Rewards® points to Card Members
through Shop Small offers from 2013 through 2022.

4. American Express commissioned research from Opinium, who polled 4,000 UK adults on Sunday, December 4, 2022. The overall spend figure was calculated by taking the average spend of those who shopped at small,
local, independent shops and businesses and multiplying by the total number of UK adults, as estimated by the UK Office for National Statistics.

Japan: RISE with Shop Small
In 2022, we provided three women-owned small businesses
with grants worth approximately $15,000 for store
remodeling, advertising, and other business improvements,
and provided ten women-owned small businesses withmentorship from external specialists who have experience inthe same fields. Additionally, we developed a variety of
support programs, including free online seminars,
consultation programs by senior managers, and a voucher
code for purchasing promotional items.
Hong Kong
In 2022, Shop Small engaged approximately 30,000 local
businesses and introduced new initiatives and offers to
support local merchants and reward Card Members for
shopping small. Shop Small participating merchants
automatically received one entry to the lucky draw for every
eligible transaction of an American Express Card to win
HK$10,000 supermarket coupons. Card Members wereautomatically entered into a weekly lucky drawing upon
spending at any Shop Small participating business to win
1 million Membership Rewards® points.

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Cash flow management hub forsmall businesses with American Express
Business Blueprint
American Express Business Blueprint is one of our latest
innovations to support the ever-changing needs of small
business owners. Launched in January 2023, the new digital
cash flow management hub is designed exclusively for small
businesses to help them make financial decisions more
confidently. Any US small business may access, for free,personalized cash flow insights. They may also accessapplications for select financial products, like a businessline of credit, and use the products, if approved, to help
them more efficiently manage their cash flow.5

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Additionally, embedded into the platform is My Insights, a free
cashflow analytics solution providing small businesses withpersonalized, 24/7 data analysis of their American Express
business products and linked external business bank accounts.
My Insights will automatically aggregate data across theseproducts and linked accounts to provide insights.
“Historically, small businesses have been underserved when it
comes to smart, simple financial management tools. No longer.
A few financial institutions are reinventing small businessbanking and delivering needed tools. American Express
Business Blueprint is raising the bar in helping small
businesses manage their cash flow from one place,” says
Alenka Grealish, Principal Analyst, Emerging Tech at Celent.

84%

According to an American Express survey
polling 1,100 small businesses, 84% of
respondents said consolidating their cash flow
management tools would save them time each
week, with around half of the respondents
saying the savings would be between 3-8 hours
per week.6 American Express Business
Blueprint helps address this need.

5. All American Express business products are subject to separate eligibility, applications, approvals, and fee structures.
6. Between November 30, 2022 and December 15, 2022, Morning Consult conducted an online survey among 1100 financial decision-makers, including 500 at small businesses (<10 employees), 400 at medium small
businesses (11-100 employees), and 200 at large small businesses (101-500 employees). The margin of error for the full sample is +/- 3 percentage points.

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RATED Rated in J.D. Power 2022 US Small

1#

Business Credit Card Satisfaction
Study for second year in a row.

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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Our powerful backing for the restaurant community
American Express is proud to continue our longstanding support for the restaurant
community in cities around the world to foster the small business economy and create
vibrant neighborhoods.
‘Every Resy Counts’Helping small food businesses with Shef

To encourage a return to dining out post-pandemic,
American Express and Resy, the American Express-owned
restaurant technology platform, teamed up in March 2022
to support independent restaurants through ‘Every ResyCounts.’ As part of the Shop Small campaign, this month-longreservation drive encouraged people to dine out at local
restaurants in the US. Over 8.6 million reservations to
8,000+ restaurants were made through Resy as a result,with a record 24.8 million diners participating throughout
the month.

Shef brings to the table an innovative concept connecting
local, food safety-certified cooks with customers in theircommunity who are looking for healthy, high-quality meal
options. Shef is an online chef-to-consumer marketplace andis a recent portfolio investment that received funding fromAmex Ventures. Shef’s marketplace has helped make startinga small food business—something previously-cost prohibitive
for most—into a reality. This model gives thousands ofpassionate cooks the opportunity to turn their culinary
talents into a small business for the first time to help earn ameaningful income selling homemade dishes.

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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Backing Historic Small Restaurants

Backing International Small Restaurants

Now in its third year, our Backing Historic Small Restaurants
Grant Program announced its 2023 recipients, who werecollectively awarded $1 million, funded by American Express
and administered by the National Trust for HistoricPreservation. The 25 historic US small restaurant recipients
will each receive $40,000 in funding to support the future
growth of these establishments as they navigate current
challenges. As part of grant program, Resy is offering one
year of complimentary use of ResyOS—its restaurant
management software—to each recipient to help streamline
costs and boost restaurant operations. This builds on the$2 million awarded to 50 US historic restaurants from 2021
through 2022, during which restaurant owners used the grant
funds to make needed improvements to their businesses.

In 2023, we entered the second year of our Backing
International Small Restaurants Program in partnership with
the International Downtown Association. The grant program
will provide a total of $450,000 in grant funding to help
support independent restaurants with community significancein five cities: London, Mexico City, Sydney, Tokyo, and Toronto.

Backing Small Grant Recipient, featuring veteran-owned business in the US“The grant gave us the opportunity to update our exteriorfacade and provided us with more energy-efficient windows
and doors during the cold winters and hot summer seasons.
Our regular customers noticed our new look right away andthey are very impressed with the work so far,” says Nadine
Hunt, owner of Miller’s Soul Food in Dublin, GA, and 2022
BHSR grant recipient. “Because of that needed work, we’veseen an increase in dine-in customers during our lunch hours.”

Backing International Small Restaurants Grant Recipient in Mexico

Backing International Small Restaurants Grant Recipient in Japan

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

Backing economicallyvulnerable small
businesses
We committed $17 million infunds through 2024 as partof our Backing Small initiative
to offer continued support
to underrepresented andeconomically vulnerable
small business owners andentrepreneurs through grant
programs funded by theAmerican Express Foundation,
mentoring support, and technicalassistance.

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$8.1 MILLION IN GRANTS AWARDED TO OVER 1,000 SMALL BUSINESSES GLOBALLY
Our Backing Small Grants supported over 1,000 small businesses across six countries, totaling over $8.1 million in grants awarded
to small businesses in 2022 through June 2023.*

LondonCanada:30+ cities
and localities

US:
550+ cities
and localities

Tokyo
Puerto Rico

Mexico City

St. Thomas, USVI

Sydney*Backing Small grant programs include Backing Historic Small Restaurants, Backing International Small Restaurants, Backing Small Businesses, Blueprint:
Backing BIPOC Businesses, Coalition to Back Black Businesses, and the Route 66 Black Experiences Grant Program.

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY“My father Todd and I founded the business together tomake a positive impact in our community. He served in
the US Army for 23 years and as a disabled Veteran, it
was a challenge to reenter the workplace following
retirement. Our small business has really given him theopportunity to do something that he loves, and having
been away from home for so many years, it’s been an
opportunity for us to reconnect as a family and to help
other families connect and build memories, as well.
Being a small business, we are incredibly grateful forthis grant, which will allow us to improve the online
experience for our customers, understanding this isessential for growing our business long-term.”– THERESA DUNCAN,
CO-OWNER OF VILLA VILLEKULLA NEIGHBORHOOD TOY STOREIN FERNANDINA BEACH, FLORIDA

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Backing Small Businesses with Main
Street America

Backing underrepresented-owned businesses
in Canada

In 2023, we launched the second year of our Backing Small
Businesses grant program7 in partnership with Main Street
America to provide hundreds of economically vulnerable small
businesses in the US with over $2.3 million in grants provided
financial support and other resources to address criticalbusiness needs, such as marketing expenses, capital
improvements, and physical and technological upgrades. In
June 2023, American Express, Main Street America, andcommunity partners will provide $5,000 grants each to 350
grantees that have the potential to improve, revitalize, or
expand an existing small business in older and historic
downtown areas nationwide. Later in 2023, 25 grantees will
also receive enhancement grants of $25,000 to fund projects
such as business expansion, capital improvements, orinvestments in technology that can further improve theirbusinesses, while providing goods or services that address
cultural, environmental, and/or access needs in their local
community. This grant program was launched in 2021 tosupport US small business owners as they recovered from the
COVID-19 pandemic and looked to grow their businesses.
Since then, the program has provided $1.65 million in grants
to 330 small businesses.

We continue to build on the success of our grant program in
Canada to facilitate access to mentorship, coaching, andnetworking and help underrepresented-owned entrepreneurs
overcome challenges related to running their businesses.
For the second consecutive year, in 2022 we selected 100
underrepresented-owned businesses in cities across Canada
to provide access to the mentorship program and eachparticipant received a $10,000 grant, totaling $1 million to
help fuel the growth of their business. A survey of the 2022
program recipients showed the positive impact of the
program, with 93% of the graduating class reporting that
this program was “significant or vital” to their businesses’
success. In addition, over the course of the program, nearly
three quarters (74%) of recipients introduced new services,
products, or processes.

Backing Small Grant Recipient in 2022, Villa Villekulla Neighborhood
Toy Store
Blueprint: Backing BIPOC Businesses grant recipient in 2022, aaniin retail inc.
7. Formerly known as Inclusive Backing.

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EMPOWERING INDIVIDUALS TO ENHANCE FINANCIAL CONFIDENCE
One of our objectives is to empower individuals to build and maintain their financial well-being, while providing robust account security.
Providing products, tools, and resources toimprove financial well-being
To make progress towards our goal to provide at least
5 million individuals with tools, resources, and educational
content to improve financial well-being from 2021 through2025, we have continued to make available products suchas MyCredit Guide and Zogo Financial Education. Since weintroduced MyCredit Guide in 2018, 6.2 million users haveenrolled through the end of 2022.

Access to credit
Providing access to credit is an important component of our
objective to empower individuals to build and maintain theirfinancial well-being. With 2.2 million new cards (basic andsupplemental) issued in the US to Card Members fromunderrepresented groups from 2021 through 2022, we aremaking progress on our goal to provide access to credit to atleast 4 million underrepresented individuals from 2021
through 2025.
Programs include an enhanced card application experience
to help US customers—especially those who are unsure if
they will qualify—apply for a credit card without impacting
their credit score. Additionally, we are facilitating easieraccess to international credit reports through Nova Credit’sCredit Passport.
Helping global consumers gain access to credit in the
US with Nova Credit
Many newcomers to the US
lack access to credit due tolack of credit histories as theirinternational credit records do not qualify for credit scoresin the US. Since 2019, we’ve been working to address thisproblem by integrating Nova Credit’s Credit Passport into

the American Express online card application process.
Through this integration, credit records from certain
international credit reporting agencies are instantly
translated into a US-equivalent credit report and score,
helping American Express to make an application decision.
This first-of-its-kind integration has helped thousands of
newcomers from Australia, Brazil, Canada, the Dominican
Republic, Kenya, India, Mexico, Nigeria, and the UK seek
approval for an American Express card through quick andeasy access to their credit reports. We continue to look forways to enhance the partnership and in 2023, have expanded
the application’s reach to individuals with credit histories in
the Philippines, South Korea, and Switzerland.

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MyCredit Guide
Through MyCredit Guide, we provide individuals free accessto their credit scores, the ability to receive email alerts when
there has been a change to their score or report, and tools
and information to help them understand how certain
actions can affect their credit scores and ways to improvethem. From 2021 through 2022, approximately 4.4 million
new individuals enrolled in this free service, available to bothcustomers and the general public through our website. As of
December 2022, there were approximately 6.2 million users
enrolled since MyCredit Guide launched in 2018.
In 2022, we added Identity Monitoring to MyCredit Guide,
free online software which scans a range of internet sites
for personal identifiable information (PII), such as social
security numbers, email addresses, and first and last names,
and notifies the customer if this information has been
exposed or compromised.
Credit Intel
Building and maintaining good credit is key to long-term
financial health. Our US-based Credit Intel financial
education platform empowers individuals to build financial
resilience and improve their personal financial healththrough free and easy-to-understand educational articles
and videos. With topics like budgeting, saving, retirement
planning, owning a home, building good credit, and more,
Credit Intel provides consumers with access to resources
to help them make more confident financial decisions.

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CreditIntel
ENABLING
CREDIT APPROVAL BEFORE
Building
and maintaining
credit isSCORE
key to long-term
IMPACTING
YOUR good
CREDITfinancial health. Our US-based Credit Intel financial education
Applying
for a creditindividuals
card can betochallenging
for resilience
platform empowers
build financial
consumers
havebeen historicallyunderservedby andand improvewho
theirpersonal
financial healththrough freecreditors. Through a new feature in our credit cardeasy-to-understand educational articles and videos. Withapplication process, American Express is working to
topics like budgeting, saving, retirement planning, owning ahelp consumers apply for credit cards with confidence
home, building good credit, and more, Credit Intel provides
by allowing them to find out if they are approved without
consumers with access to resources to help them make more
impacting their credit score. If the applicant receives anconfident financial decisions and achieve their individual
approval and chooses to accept the card, only thengoals.more-confident financial decisions and achieve theirmight their credit score be impacted.
individual goals.
This new feature allows individuals to submit anapplication for a credit card and find out whether they’reapproved without a credit impact. This process involves
using only a soft credit inquiry to make an approval
decision, which doesn’t have an impact on the applicant’s
credit score and allows them to apply without worrying
about a credit impact if they are declined.

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American Express Rewards Checking AccountWe launched the American Express Rewards Checking
Account for US Consumer Card Members in 2022, our first
digital consumer checking account. It offers a range ofbenefits including Membership Rewards points for eligible
debit card purchases, no monthly maintenance fees orminimum spending limits, Purchase Protection for eligible
purchases, and Fraud Protection and Monitoring.8
American Express Rewards Checking Account recognizedby Money.com as one of the Best Online Banks of2022-2023.

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Zogo
Building on the success of our pilot with Zogo in 2021, in
2022, we collaborated with Zogo once again and provided
financial education opportunities to over 200,000 people in
the US. Zogo’s user-friendly, gamified app uses a curriculum
consisting of over 800 bite-sized lessons about debt
repayment, health insurance, and home buying to help users
build their financial literacy and practical life skills. Users of
the American Express sponsored version of the appcompleted approximately 3.6 million educational modules
in 2022.
My Financial Plan
In 2021, American Express piloted a self-service financial
planning tool designed to help Card Members understandtheir financial health.

1#

on Fast Company’s World’s Most
Innovative Companies for 2023
in the Personal Finance Category.

Zogo App

8. P
 urchase Protection is underwritten by AMEX Assurance Company. Subject to additional terms, conditions, and exclusions. For full Terms and Conditions, see americanexpress.com/PPterms. If you have any questions
about a specific item, please call us at 1-800-228-6855, if international, collect at 1-303-273-6498. Accounts offered by American Express National Bank. Member FDIC.

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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SUPPORTINGDATAPROTECTING OUR CUSTOMERS WITH FRAUD PREVENTION,DATA PRIVACY AND SECURITY
Advancing fraud prevention
American Express maintains industry-leading fraud rates
among major card networks through practices that engage
customers and merchants, respond to escalating threats, andleverage new technologies to adapt to changing trends.

16 YEARS

American Express has maintained
the lowest US fraud rates amongmajor card networks for the past
16 years, according to the
February 2023 Nilson Report.

Leveraging machine learning to help prevent fraud
The financial services industry has witnessed a rise inattempted account takeover fraud, where fraudsters use
stolen credentials to gain access to a user’s account.
American Express has developed a fraud protection systemthat uses machine learning techniques to identify potential
account takeovers and predict whether online logins are froma genuine customer. By using algorithms and statisticalmodels to help understand patterns in data, we can better
evaluate the risk and help protect our customers’ accounts.

Driving down the cost of fraud for businesses withAccertify and Enhanced Authorization
We support our merchants through enhanced monitoring
tools, controls, and policies, as well as algorithms and otheranalytical tools designed to identify and reduce fraud.
Accertify, our wholly-owned subsidiary, provides accountprotection, fraud and abuse prevention, and chargeback
management solutions to help merchants across each stepalong the customer journey. Enhanced Authorization® is a
fraud solution from American Express that monitors onlinetransactions to help merchant customers detect and block
fraudulent purchases in real time.

UP TO

60%

FRAUD REDUCTION

Merchants who used our Enhanced Authorization process to identify
parties on the other end of a financial transaction typically saw higher
approval rates, reduced false positives, and fraud reduction of up to 60%.

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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Protecting our customers’ privacy
Protecting the personal information of our customers andcolleagues is a priority for us. We have a longstanding
commitment to transparency as it relates to privacy and havea robust data privacy program that outlines which information
we may collect and how our customers may manage their own
data privacy preferences.
Our Data Protection and Privacy Principles govern the way wecollect, use, store, share, transmit, delete, or otherwise process
our customer and colleague personal data globally.
Our website’s Privacy Center also provides US customers
with transparent, simple-to-use resources regarding our
privacy practices.
Our Online Privacy Statement describes how we collect, use,and share data when they use our online or mobile products
and services, and the choices they can make related tomarketing, information sharing, and targeted advertising.
Our Privacy Notices inform our customers about the personal
information we collect and the choices they have related
to the processing of personal information, for specificgeographical regions such as California, or for specificproducts, such as our credit cards. Likewise, we provide
privacy notices to our colleagues and contractors, which
describe how we process their personal information in thecontext of their employment.

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Our internal Privacy Risk Management Policy establishes our
privacy framework on the basis of the Data Protection andPrivacy Principles. Chaired by the Chief Privacy Officer, thePrivacy Risk Management Committee provides oversight andgovernance for our privacy program. The Chief Privacy Officer
and other members of management provide reports andupdates to the Risk Committee of our Board of Directors(Board) on privacy risk and emerging trends. Our Privacy
Framework includes conducting privacy risk assessments on
our processes, products, technologies, and third-party
engagements to identify and mitigate risk to customers,
prospects, and colleagues.
Training on cybersecurity, data protection,and data privacy
We educate our colleagues (including contractors andapplicable third parties) about our Data Protection andPrivacy Principles through our Code of Conduct andmandatory annual information security and privacy
training across our global operations. In 2022, 99.6% of
in-scope American Express colleagues completed the annual
Privacy and Information Security Awareness trainings.
Additionally, our Global Privacy Professional Learning andDevelopment Program provides colleagues with supporting
privacy functions with educational content to help gain abetter understanding of privacy topics and best practices.

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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Managing cybersecurity
We understand the substantial operational risks forcompanies in our industry, and therefore have an extensive
cybersecurity governance framework in place. Our Board
receives cybersecurity reports at least once a year and our
Risk Committee receives cybersecurity reports at least twicea year, including at least one joint meeting with the Audit andCompliance Committee, and all receive ad hoc updates asneeded. In addition, the Risk Committee annually approves
the company’s Information Security Program.
Our information and cybersecurity program is designed
to protect information and information systems fromunauthorized access, use, disclosure, disruption,
modification, and destruction. The program is built upon afoundation of advanced security technology, a well-staffed
and highly-trained team of experts, and operations basedon the National Institute of Standards and Technology
Cybersecurity Framework. This consists of controls thatare designed to identify, protect, detect, respond to, andrecover from information and cybersecurity incidents. The
framework defines risks and associated controls which areembedded in our processes and technology. Those controls
are measured and monitored by a combination of subject
matter experts and a security operations center with our
integrated cyber detection, response, and recovery
capabilities. We continuously assess the risks and changes
in the cyber environment and adjust our program andinvestments as appropriate.

Program highlights:• We have a Cyber Crisis Response Plan that provides a
documented framework for handling high-severity security
incidents and facilitates coordination across multiple partsof the company to manage response efforts.
• We deploy multiple layers of controls, including embedding
security into our technology investments.
• We invest in threat intelligence and are active participants
in industry and government forums to improve sector
cybersecurity defense.
• We collaborate with our peers in the areas of threat
intelligence, vulnerability management and response,and drills.
• We routinely perform simulations and drills at both atechnical and management level.
• We incorporate internal and external expertise and reviewsin our program.
• 99.6% of in-scope colleagues completed the annual Privacy
and Information Security Awareness trainings in 2022.

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SUPPORTING ECONOMIC GROWTH AND
RESILIENCE IN COMMUNITIESWe aim to build financial confidence in the communities where we live, work, and operate.
To this end, our goal is to help build resilient communities through grants, programs, and initiatives
that support economic empowerment and equity.
We have already exceeded our goal of investing $500 million
toward resilient and equitable communities from 2021
through 2025. From 2021 through 2022, we have made orcommitted capital to more than $595 million in investments,
community development loans, and grants through The
American Express Center for Community Development(CCD), which is responsible for American Express National
Bank’s (AENB) Community Reinvestment (CRA) activities.
These funds have gone towards affordable housing, including
rental and homeownership opportunities for low- andmoderate-income individuals; economic development
activities that support small businesses, minority-owned
depository institutions, and community development

financial institutions; and grants that support organizations
focused on building financial confidence through activities
such as home ownership workshops, increasing financial
literacy for school-age children, and community projects
targeting financial accessibility and inclusion.
Our $5 million investment in the Renter Wealth Creation Fund,
LLC in 2022 is focused on real estate projects that will create
and preserve affordable multifamily and workforce rental
housing for low- and moderate-income populations. It is a
resident-informed real estate investment fund aimed ataddressing pervasive wealth inequities that can be linked
directly to rental housing.

Fort Apache Reservation in Arizona

PROVIDING AFFORDABLE HOUSING
In Salt Lake City, our investments are supporting a mixed
income housing complex. The project will create 153
affordable housing units, including units that serve
unhoused individuals and those with disabilities. The
population served by this investment is tenants earning
between 20% and 80% of the median income in the area.
Our investment in a project on the Fort Apache
Reservation, located in Navajo County, Arizona, supported
the development of 28 single family homes for tenantswith incomes between 40-60% of the area medianincome, providing affordable housing on tribal land.

INTRODUCTION$595

MILLION

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More than $595 million in
investments, community
development loans, and grants
made or to which we havecommitted capital through theAmerican Express Center forCommunity Development (CCD)from 2021 through 2022,
exceeding our goal of $500
million by 2025.

We financed 4,974 affordable
housing units throughcommunity development loans
and investments from theAmerican Express Center forCommunity Development fromJanuary 2021 throughDecember 2022.

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HELPING CUSTOMERS GIVE BACK TO THEIR COMMUNITIES
American Express has a long history of giving to the community and we also try to enable our Card Members to do the same.

Helping customers support charities of their choice
Amex Round-Up™
In 2022, we piloted a new tool to empower customers
to support nonprofit organizations. Select US Consumer
Card Members were able to round up their purchases tothe nearest $1, $5, or $10 and contribute the extra funds
to charities of their choice.9
Give $5 campaign
Launched in October 2022, we helped to make it easierfor our Card Members to give back to their communities.
Through a limited time offer that ran from October
2022 through January 2023, American Express
provided $5—at US Corporate Card Members’
direction—to one of three nonprofit organizationsaligned with our ESG strategy (American Forests,
Grameen America, and Junior Achievement USA).
Over 1,100 US Corporate Card Members engaged in
the offer to support these nonprofit organizations.

9. Eligible customers included US Basic Consumer Card Members.

Matching donations to support relief efforts in Ukraine
In the aftermath of Russia’s invasion of Ukraine,
American Express enabled our US Consumer, Small Business,
and Corporate Card Members enrolled in Membership
Rewards® to use their points to support select charities
providing humanitarian relief efforts in the region andmatched the dollar value of points contributions madebetween April 7, 2022 and June 15, 2022 through the PayPal
Giving Fund. Additionally, we teamed up with Hilton to donate
up to one million room nights in hotels across Europe tosupport Ukrainian families and first responders. In 2022,
we continued to match colleague donations through theAmerican Express Match and Global Giving programs,
providing over $160,000 to support relief efforts.

Advance
ClimateSolutions

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSADVANCE CLIMATE SOLUTIONSVISIONTo enhance our operations and capabilities to meetcustomer and community needs in the transition toa low-carbon future.
We have made progress on our vision, including creating and piloting
tools that enable our customers to transition to a low-carbon
future, managing climate-related risks and opportunities toour business, and providing grants and working with organizations toback low-carbon communities.

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PROGRESS ON OUR ADVANCE CLIMATE SOLUTIONS GOALSSTRATEGIC OBJECTIVEGOAL

ENABLE OUR CUSTOMERSAND PARTNERS TO TRANSITION
TO A LOW-CARBON ECONOMY
THROUGH THE DEVELOPMENT
OF NEW CAPABILITIESSUPPORT COMMUNITY PROGRAMSAND INITIATIVES TO HELP BUILD
MORE CLIMATE RESILIENT AND
EQUITABLE COMMUNITIESPROGRESSIN PROGRESS• Submitted near- and long-term emissions reductions targets to the SBTi in 2022
for validation in 20231• Created Net-Zero Working Group to support implementation of net-zero strategy

IN PROGRESS• Integrated ESG risk (including climate-related risks) into our Enterprise Risk
Management framework• Formed Climate Risk Management Working Group and established Climate Risk Team• Conducted qualitative physical and transition assessments on climate-related risks
in 2020 and 2021
• Became a TCFD supporter

Pilot low-carbon product innovations,
including carbon tracking andoffset solutions

ACHIEVED• Announced Amex Estimated Carbon Emissions Tracker pilot2 for eligible US Consumer
and Small Business Card Members in 20233• Expanded Carbon Footprint Tool,2 which was made available to select Corporate clientsin 2023, and Carbon Offset Referral Suite launched for US Corporate clients in 2022
• Launched Delta SkyMiles Card in 2022 that achieved CarbonNeutral® productcertification

Provide at least $10 million to support
initiatives, partnerships, and programs
that address the adverse effects ofclimate change and pollution oncommunities from 2021 through 2025

EXCEEDED• Provided $10.4 million in grants to back low-carbon communities from
September 2021 through December 2022

Engage our colleagues insustainability initiatives throughthe Green2Gether program

IN PROGRESS• Engaged colleagues in Green2Gether initiatives globally, including through volunteer
opportunities with nonprofit partners, waste and energy reduction efforts, and more

Commit to net-zero emissions by
2035 in alignment with the Science
Based Targets initiative (SBTi)

MINIMIZE OUR CLIMATEIMPACT AND MANAGE OUR
CLIMATE-RELATED RISKSAND OPPORTUNITIESSTATUS

Enhance the management ofclimate-related risks andopportunities across our business

1. American Express submitted near- and long-term company-wide emissions reductions targets in line with the SBTi Corporate Manual, Version 2.0, December 2021 and SBTi Corporate Net Zero Standard, Version 1.0, October 2021, respectively.
2. The estimated information provided by the Carbon Emissions Tracker and the Carbon Footprint Tool is for generalized informational purposes only and does not constitute financial, tax, accounting, legal, or other professional advice on any subject matter.
3. American Express Card Members who have a primary US Consumer or Small Business Basic Card have access to the Estimated Carbon Emissions Tracker and may connect any eligible Card to the tracker. Holders of Additional Cards, Corporate Cards and American Express Cards issued outside the US are not eligible at this time.
The information provided by the Estimated Carbon Emissions Tracker is for generalized informational purposes only and does not constitute financial, tax, accounting, legal or other professional advice on any subject matter. For full terms of service and information about the methodology used by the Estimated Carbon Emissions Tracker,
please visit https://www.americanexpress.com/en-us/benefits/carbon/?intlink=us_benefits_types_carbon.

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MOVING TO NET-ZERO EMISSIONSAt American Express, we recognize that advancing climate solutions starts with our own
operations and we continue to take action to minimize our carbon footprint.
We’re proud of our progress to date, which includes
maintaining CarbonNeutral® certified operations including
offices, field sites, and data centers in accordance with the
CarbonNeutral Protocol, a leading third-party framework4
and our operations have been powered by 100% renewableelectricity globally since 2018. We are making progress on
our commitment to net-zero emissions by 2035 in alignment
with the SBTi and are working to enhance the managementof our climate-related risks and opportunities across ourbusiness, and supporting our customers in the transition toa low-carbon economy.
In 2021, we committed to net-zero emissions by 2035 inalignment with the SBTi based on the SBTi’s most ambitious
level of climate action: to limit global warming to 1.5 degrees
Celsius above pre-industrial levels. Through this commitment,
we joined a growing roster of more than 5,000 companies taking
action and 2,100 companies with net-zero commitments inalignment with the SBTi.

In 2022, we submitted our near- and long-term emissions
reduction targets to the SBTi for validation in 2023 as partof our commitment to net-zero by 2035 in alignment with
SBTi.5 Additionally, we established new governance tosupport our Net-Zero Program, including a Net-Zero Working
Group comprised of business unit leads to support theimplementation of our net-zero strategy.
Since our operations are already carbon neutral, we will
primarily focus on our supply chain and work with our vendors,
encouraging them to establish their own science-based
emissions reduction targets and track, reduce, and eventually
neutralize their operational greenhouse gas (GHG) emissions.

4.	Operations include all our managed facilities, field sites, and data centers. Managed facilities are individual properties operationally managed by our global real estate team and housing critical business functions. Fieldsites are individual properties that are not operationally managed by our global real estate team but directly by our business units. They are typically smaller sites, less than 30,000 square feet (including airport lounges,
foreign exchange kiosks, and sales offices), that are owned or leased by American Express. The company’s goal to remain carbon neutral covers Scope 1 (direct emissions from sources owned or controlled byAmerican Express), Scope 2 (indirect location-based and market-based emissions), Scope 3 emissions (Category 5 waste generated in operations and Category 6 business travel) through renewable energy credits,
carbon offsets, and reduced GHG emissions. For more detailed data on our Scope 1, 2, and 3 emissions, please see the Environmental Performance Data Summary and Limited Assurance Statement of GHG Emissions in
the Supporting Data section at the end of this report.
5.	American Express submitted near- and long-term company-wide emissions reductions targets in line with the SBTi Corporate Manual, Version 2.0, December 2021 and SBTi Corporate Net Zero Standard, Version 1.0,
October 2021, respectively.

SUSTAINABLE OPERATIONS
Our 2025 Operational Environmental Goals
In 2019, we set operational environmental goals for2025 that include reductions in energy, water use, waste
generation, green building certifications, the phaseoutof single-use plastics, and responsible paper sourcing.
While our energy, waste, and water usage increased
in 2022 over the prior year as colleagues returned tothe office following global office closures during the
pandemic, we are continuing to make progress towards
our goals.

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COLLEAGUESProgress on our 2025 operational environmental goals
2025 Operational Environmental Goals

Energy &EmissionsRemain carbon neutral across our operations

Achieved—CarbonNeutral® certified since 2018

Continue to power our operations with 100% renewable electricity6

Achieved—100% renewable electricity since 2018

Reduce energy use by 35% across our managed facilities compared
to 20117

Waste &
Recycling

Divert 60% of office waste from landfills from our managed facilities8

Achieve zero waste certification for US headquarters9
Reduce waste generated from our managed facilities by 10% percolleague compared to 2019

Water
Sourcing

Reduce water use from managed facilities by 10% per colleague
compared to 2019
Eliminate single-use plastics across our operations
Source 100% of direct marketing, customer communications andoffice paper from certified responsibly managed forests

Green
Buildings

Achieve green building certifications for 60% of our operations11

Target35%

Exceeded
TargetIn Progress

51%
60%
54%
>90%

TargetIn Progress 34%

In 2022, we initiated a phased re-opening of ouroffices that were closed in 2021 due to the COVID-19
pandemic. As a result, we have continued to temporarilysuspend reporting our performance against these threegoals. We are also reviewing our methodologies inrelation to these changes as we adapt to the new
operating environment.

100%
95%

TargetIn Progress
TargetIn Progress

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Making progress on energy efficiency
and emissions

2022 Performance
6

GOVERNANCE &OPERATING RESPONSIBLY

60%
59%

6.	Operations include all our managed facilities, field sites, and data centers. Managed facilities are individual properties operationally managed by our global real estate team and housing critical business functions. Field sites
are individual properties that are not operationally managed by our global real estate team but directly by our business units. They are typically smaller sites, less than 30,000 square feet (including airport lounges, foreignexchange kiosks, and sales offices), that are owned or leased by American Express. The company’s goal to remain carbon neutral covers Scope 1 (direct emissions from sources owned or controlled by American Express),
Scope 2 (indirect location-based and market-based emissions), Scope 3 emissions (Category 5 waste generated in operations and Category 6 business travel) through renewable energy credits, carbon offsets, and reduced GHG
emissions. For more detailed data on our Scope 1, 2, and 3 emissions, please see the Environmental Performance Data Summary and Limited Assurance Statement of GHG Emissions in the Supporting Data section at the endof this report.
7.	Energy use reduction since 2011 calculations are based only on managed facilities where metered data is available which represents 6,826,608 ft2 and 91,248 MWh of energy consumption in 2022 and excludes field sites,
managed sites with estimated data, and data centers not operationally managed by our global real estate team.
8.	The waste data is reported only for managed facilities where measured data is available. This represents approximately 72% (4,968,933 ft2) of the globally managed facilities footprint in 2022.
9.	Definition of zero-waste is aligned with the US Green Building Council’s standard of a minimum of 90% waste diversion from landfills to achieve zero-waste certification.

In 2022, we implemented lighting retrofits, HVAC equipment
upgrades, optimization of cooling in IT rooms, and newbuilding control systems, among other initiatives, all of which
are expected to save approximately 1,800 megawatt-hours(MWh) of energy per year. Due to these measures andreduction in energy demand due to temporary work-fromhome arrangements, energy consumption in the facilities
we manage in 2022 decreased by approximately 51%
compared to our 2011 baseline.7
To maintain CarbonNeutral® certified operations, wepurchased 52,948 metric tons of carbon dioxide equivalent(MTCO2e) of carbon offsets in 2022, which included projects
that support wind power development, reforestation, andforest conservation projects. These projects offset ouremissions from Scope 1 and 2 emissions, such as fuel andsteam consumption, and select categories of Scope 3
emissions, including emissions from certain activities related
to colleague business travel and waste generated in ouroperations.10

10.	To maintain CarbonNeutral operations,verified carbon offsets that were purchased in 2022 havebeen retroactively applied in 2021 and 2020 where applicable to reflect the updated emissions
calculations associated with refinements in our greenhouse gas emissions methodologies. Toalign with the CarbonNeutral Protocol, we have purchased carbon offsets with respect to certain
categories of Scope 3 emissions that are not included in the Environmental Performance Data
Summary in the Supporting Data section of this report.
11.	Green building certified percentage is represented by the total year-end square footage certified
out of total year-end building square footage. This includes leased or owned facilities actively
occupied by American Express (excluding parking lot square footage) that have achieved
certification under a global or locally recognized third-party environmental building certification
system as meeting their performance criteria (LEED, BREEAM, NABERS, GreenMark, HQE,
and Effinergie+).

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RENEWABLE ENERGY AT OUR OFFICES AND DATA CENTERS
Our global operations consist of offices, field sites, and data
centers, with data centers representing a large portion of
our energy usage. In 2022, our data centers represented
approximately 849,209 square feet of building space andused approximately 131,183 MWh, which makes up about
57% of the electricity used to power our global operations.
Currently, our data centers produce 37% of our Scope 1
and Scope 2 emissions and report a power usage
effectiveness (PUE)12 of 1.57 for our production data center,13
1.48 for our redundancy data center,14 and 1.70 for our
testing data center.

To support our goal to continue to power our operations
with 100% renewable electricity, we continued to generate
onsite renewable electricity and purchase renewable energy
credits. We produced approximately 533 MWh of renewablesolar electricity in total from our North Carolina andBrighton, UK data centers, equivalent to powering
approximately 70 homes’ electricity use for one year.15
We also purchased 229,106 MWh of Energy AttributeCertificates (EAC’s) in 2022, which verify the productionof renewable electricity in an amount equivalent to total
electricity consumption. Our EAC purchases were inalignment with the technical guidance from RE100, a global
coalition of leading businesses committed to using 100%
renewable electricity.

In 2022, solar panels at our data centers in North Carolina and Brighton, UK generated
approximately 533 MWh of renewable electricity in total
Solar panels at our UK office533

533 MWh of solar
generated at ourdata centers=

70

enough to powerelectricity use for 70
homes for one year

For more detailed data on our energy consumption, renewable energy,
and Scope 1, 2, and 3 emissions, please see the Environmental
Performance Data Summary and Limited Assurance Statement of
GHG Emissions in the Supporting Data Section at the end of
this report.

12. The PUE is the total overall utility load divided by the total load needed to support the data halls. We collect data from strategic metering devices within our building systems as well as our Energy Performance Management System (EPMS) which reports real-time PUE data.
13. Primary Data Center for Daily BAU (business-as-usual) activities.
14. Disaster Recovery Data Center for Production Data Center.
15. Equivalent number of homes powered determined based on the US Environmental Protection Agency Greenhouse Gas Equivalencies calculator.

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Optimizing our workspaces
As we work to reduce our energy use, maintain carbon
neutrality, and find ways to reduce the environmental impactof our real estate footprint, we strive to design, build, andoperate facilities that consume less resources, emit fewer
greenhouse gases, and improve the quality and sustainabilityof our office spaces.

We are pleased to report that we are close to our goal ofachieving green building certifications for 60% of ouroperations by the end of 2025. As of year-end 2022, 25 of ourfacilities in 13 countries—representing approximately 59% of
our global real estate portfolio—have achieved green building
certifications.16

We follow sustainability best practices, which include the
US Green Building Council’s Leadership in Energy andEnvironmental Design (LEED) certification program and otherinternational green building standards, including BREEAM,
NABERS, GreenMark, HQE, and Effinergie+.

We are also working to improve the sustainability, comfort,
quality, and flexibility of our offices to support our colleagues’
overall well-being. Actions we have taken towards thisobjective include using ergonomic furniture and sustainable
construction materials that adhere to LEED standards,
allocating flexible workspace, and providing remote work
capabilities through Amex Flex.

Green Building Certifications (%)
2019

American Express office building in Spain during Earth Hour

CELEBRATING EARTH HOUR

50%

Learn more in the Amex Flex: A Year After Launch section in this report.

2020

55%

2021

56%

2022

59%

2025 GOAL

60%

16.	Green building certified percentage is represented by the total year-end square footage certified out of total year-end building square footage. This includes leased or owned facilities actively occupied byAmerican Express (excluding parking lot square footage) that have achieved certification under a global or locally recognized third-party environmental building certification system as meeting their performance
criteria (LEED, BREEAM, NABERS, GreenMark, HQE, and Effinergie+).

We powered down for a good cause and celebrated
Earth Hour by turning off the lights for one hour at
American Express facilities around the world on
March 25, 2023. A total of 45 American Express
facilities, representing over 6.5 million square feetof real estate participated in the event.

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Maintaining healthy and safe workplaces globally

Reducing and managing waste

We continue to promote a safe and healthy workplace for our colleagues across our global
operations. Our Global Workplace Safety teams help manage risks and ensure compliancewith local market requirements. We maintain an Occupational Health and Safety
Management System (OHSMS) in select jurisdictions, which provides standards, procedures,and guidance designed to meet our safety objectives in alignment with the ISO 45001
framework, a globally recognized set of management practices that consider local safety
requirements, industry best practices, and internal and external community expectations.
Additionally, we conduct regular health and safety audits to evaluate our practices andprovide training for our colleagues on health and safety. We also provide ergonomics tools
and resources that can help improve comfort, safety, and productivity.

Four of our 2025 operational environmental goals are focused on reducing and diverting
landfill-bound waste and phasing out single-use plastics. In 2019, we set an operational goal toachieving zero waste certification—which includes a minimum requirement of 90% or greater
waste diversion from landfills—for our headquarters in New York City, and to reach a 60%
waste diversion rate across our managed facilities. In 2022, the overall waste diversion ratefrom landfills across our managed facilities where waste data is reported was 54%.17 We
continue to implement initiatives to support these goals, including recycling and composting
programs and zero-waste initiatives. In 2023, we launched the Eco Exchange program toencourage upcycling of items to reduce waste sent to the landfill.
In 2021, one of our offices in Gurgaon, India achieved TRUE Zero Waste
Certification at the Platinum level, TRUE’s highest certification levelpossible. The TRUE certification program rates how facilities performin minimizing waste and maximizing their efficiency in the use ofresources. In 2022, the facility diverted 93% of its waste from landfills,
above the minimum requirement of 90% waste diversion rate to maintainthis certification.

In 2023, three of our offices in the UK achieved WELL Health-Safety
Ratings. The WELL Health-Safety Rating is an evidence-based, third-partyverified rating focused on operational policies, maintenance protocols,and emergency plans developed to address post-COVID-19 environmentand broader health and safety-related issues into the future.
In 2023, one of our offices in Gurgaon, India, achieved WELLTM Certified
at the Gold level. WELL provides a comprehensive global certification
standard focused on advancing human health and well-being in thebuilt environment.

Decreasing our water use
Since 2019, we’ve worked to reduce water consumption through colleague engagement andeducation, as well as building design. In 2022, we consumed 217,497 cubic meters across ourglobal operations. Our water consumption in 2022 was 63% lower than in 2019, due primarily
to the implementation of the Amex Flex program, which has provided colleagues with flexibility
in their work arrangements. Colleagues who elect to work remotely or hybrid rather than in theoffice full-time contribute to lower water consumption across our facilities.

17. The waste data is reported only for managed facilities where measured data is available. This represents approximately 72% of (4,968,933 ft2) of the globally managed facilities footprint in 2022.

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Operating an environmentally and socially
responsible supply chain
We’re committed to working with suppliers who share ourvalues regarding environmental sustainability, diversity,
ethical sourcing, responsible operations, human rights, andgender equality.

95%

In 2022, we sourced 95.1% of our direct
marketing, customer communications,and office paper from certified
responsibly managed forests, downfrom 96.3% in 2021. This includes
paper certified by the Forest
Stewardship Council (FSC),
Sustainable Forestry Initiative (SFI),
and Programme for the Endorsementof Forest Certification (PEFC).

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Additionally, in 2022 we launched a Paper-Off Initiative to
reduce paper statements for over 100 global Corporate clientsoutside the US.
Find more details about our responsible supply chain efforts in the
Operating a Responsible Supply Chain Globally section of this report.

Climate standards and frameworks
We aim to align our efforts with several standards andframeworks that have emerged for measuring climate impact
and action and promoting accountability for businesses.
• CarbonNeutral® certified operations18• CDP Supply Chain Member since 2023
• EPA Green Power Partner since 2014
• RE100 member since 2020
• Committed to net-zero emissions in alignment with
Science Based Targets initiative in 2021
• TCFD Supporter since 2021

18.	See note 6 on page 34 for more information on our CarbonNeutral® certified operations

American Express office in a building near Paris that achieved HQE,
BREEAM, and Effinergie+ green building certifications

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SUPPORTINGDATAMANAGING CLIMATE RISKS ANDOPPORTUNITIESThe Advance Climate Solutions pillar of our ESG strategy includes a goal to enhance themanagement of climate-related risks and opportunities across our business. To that end,
we have continued to make progress towards this goal, including by establishing a Climate Risk
Team and conducting qualitative analyses to measure climate-related physical and transition risks
and opportunities. We also formed a Climate Risk Management Working Group in 2022 comprisedof senior leaders with direct accountability to our Enterprise Risk Management Committee.
The Risk Committee of the Board provides oversight ofthe company’s Enterprise Risk Management (ERM) framework,and other risk management policies and procedures
established by management to identify, assess, measure, andmanage key risks facing the company. It also approves our
ERM policy, which governs risk governance, risk oversight, andrisk appetite. ESG risks, including climate-related risks, areincluded in our ERM framework and climate-related risks are
currently managed as part of our ERM process.
To maintain resiliency and business continuity in our offices
and data centers, we factor climate-related physical risks into
our short-, medium-, and long-term real estate strategies. In
addition, we evaluate qualitative climate-related transition
risks that may impact our global operations, including current
and emerging regulations.

These climate-related risks influence our operational strategy,
and we have identified opportunities to minimize these risks,
including by maintaining carbon neutrality and continuing toinvest in energy efficiency projects and renewable electricity.
Our Enterprise Resilience program addresses the impact
and recovery of key business operations and supporting
technology in the event of an unplanned disruption. We
support this program with Business Continuity Plans, alongwith tools, training, and guidance.
For more information, refer to the TCFD Index.

Albany Improved Forest Management Project supported as part of our
CarbonNeutral® certification

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SUPPORTING OUR CUSTOMERS IN THE
TRANSITION TO A LOW-CARBON FUTURE
As climate action increases in importance to our customers and partners, we’re creating
new products and services to help them make informed decisions, improve operations, andpromote responsible travel and conscientious consumption. To reinforce this, in 2021, we set
a goal to pilot low-carbon product innovations.
Innovating low-carbon products for our customers
New pilot experience for Card Members
In February 2023, we launched a pilot digital suite for eligible
US Consumer and Small Business Card Members to help
them better understand their environmental impact andcontribute to carbon removal efforts with the following tools:• Amex Estimated Carbon Emissions Tracker: Developed incollaboration with the CoolClimate Network at University ofCalifornia, Berkeley, the tool analyzes the spend made on
an eligible American Express Card and estimates carbon
emissions associated with those purchases.19• Contribution Services for Carbon Removal Projects:
Eligible US Card Members can set up automatic monthly
contributions from $5 to $100 a month20 via program
partner Cloverly. These contributions are used to support
a portfolio of for-profit carbon removal projects that also
support local communities, which have been selected withthe help of our program partner Carbon Direct.
• Carbon Reduction Insights: Tips and advice from Carbon
Direct for informational purposes are available to Card
Members to learn about ways to reduce the carbon impactof their day-to-day activities.

19.	American Express Card Members who have a primary US Consumer or Small Business Basic Card have access to the Estimated Carbon Emissions Tracker and may connect any eligible Card to the tracker. Holders of Additional
Cards, Corporate Cards and American Express Cards issued outside the US are not eligible at this time. The information provided by the Estimated Carbon Emissions Tracker is for generalized informational purposes only anddoes not constitute financial, tax, accounting, legal or other professional advice on any subject matter. For full terms of service and information about the methodology used by the Estimated Carbon Emissions Tracker, please
visit https://www.americanexpress.com/en-us/benefits/carbon/?intlink=us_benefits_types_carbon.
20.	Eligible Card Members can sign up to make automatically recurring monthly contributions to select carbon removal projects in an amount that they choose, from $5 to $100 a month. Payments will continue to bemade in the amount chosen until a user cancels or changes the amount of future payments. Users may cancel or change the amount of future payments at any time through their American Express Online Account at
https://www.americanexpress.com/en-us/benefits/carbon/profile and may contact us using the telephone number on the back of their Card if they need assistance. Contributions made are not charitable contributions.
The payments will be made to Cloverly, Inc., a third party that will apply such payments (net of fees and charges) to retire carbon credits issued to certain for-profit carbon removal projects. American Express, Cloverly,
and the organizations sponsoring carbon removal projects are not charities and receive financial benefits from payments made. American Express does not own, control, or manage the carbon removal projects and cannot
guarantee that such projects will operate as anticipated or yield any particular results or that retired carbon credits represent a unique quantity of atmospheric carbon reduced by the relevant project. Eligible Card Members
are American Express Card Members who have an active US Basic Consumer or Business Credit Card issued by American Express National Bank. For complete terms of service and information about the projects, please
visit https://www.americanexpress.com/en-us/benefits/carbon/.
21. The estimated information provided by the Carbon Footprint Dashboard is for generalized informational purposes only and does not constitute financial, tax, accounting, legal, or other professional advice on any subject matter.

Dashboard is for illustrative purposes only and does not depict actual
Carbon Footprint Tool graphics

EXPANDING CARBON FOOTPRINTMANAGEMENT TOOLS FORCORPORATE CLIENTSIn February 2023, we expanded the American Express Carbon
Footprint Tool to include additional categories of spend forselect Corporate clients so that they can track estimatedcarbon emissions associated with spend across air travel,
ground transportation, hotel stays, food and beverage, andretail. The Carbon Footprint Tool applies conversion factors
and standards from various governmental and privateorganizations to a company’s spend on its American Express
Corporate Product Program. The Tool can be accessed whenclients log in to Commercial Insights, a suite of tools offered
to American Express’ largest Corporate clients.21
The Carbon Footprint Tool joins the Corporate Carbon Offset
Referral Suite, which launched in 2022 and provides US
Corporate clients with a list of carbon offset providers curatedby American Express. Participating companies may elect towork with such provider(s) to purchase carbon offsets
through investments in large-scale carbon projects, which
can help them manage their estimated carbon footprint.

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Expanding recycled plastic cards
American Express has been working to reduce ourconsumption of virgin plastic, beginning in 2019 with theintroduction of the first American Express Card manufactured
primarily from reclaimed plastic collected from beaches andcoastal communities. In 2022, we set a goal for the vast
majority of plastic cards issued by American Express to bemade from at least 70% recycled or reclaimed plastic by theend of 2024. By achieving this goal, we can help reduce theamount of virgin plastics being introduced into theenvironment. In 2022, we continued to expand cards madefrom recycled or reclaimed plastics globally, including
approximately four million cards issued in the US, Canada,
France, Germany, and Italy.
Our Card Take Back Program enables US Card Members toreturn both plastic and non-plastic cards by mail for recycling.
Since the launch of the program in 2019, we’ve recycled
more than two million cards, including cards returned by
Card Members.

In 2022, 96% of Card
Member payments were
electronic22 and 69% ofstatements were paperless.23

22.	“Electronic” includes payments received via phone, online, Auto Pay, third-party remits, and wire transfers.
23. Includes Global Consumer, Global Small Business, and US Corporate Card Members.

2+

MILLIONSUPPORTING
DATA

More than 2 million
cards recycled since2019, including cards
returned by Card
Members through ourCard Take Back
Program in the US.

Partnering with Delta
Helping Card Members Shop with Purpose
For the second year in a row, we helped Card Members Shopwith Purpose with Amex Offers during Earth Month in 2023.
American Express had a selection of Shop with Purpose Amex
Offers available throughout Earth Month to eligible US
Consumer and Small Business Card Members. These offers
rewarded spending on eligible purchases from select Certified
B Corporations™, such as Stumptown Coffee Roasters andHive Brands, and Climate Neutral Certified Companies like
Avocado Mattress and Parachute.

We also collaborate with our strategic partners to support
our shared sustainability objectives. For example, we havepartnered with Delta Air Lines on the Delta SkyMiles
American Express Cards made from 70% reclaimed plastic
that also achieved CarbonNeutral® product certification inaccordance with the CarbonNeutral® Protocol.

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Supporting a sustainable, low-carbon future
for travel
Travel is a key part of our business and history. Our efforts startat home by offsetting our carbon footprint associated withthird-party air, rail, rental car usage, and hotel stays for employee
business travel.
We continue to scale up our use of Sustainable Aviation Fuel(SAF) in our corporate jet fleet and pursue LEED or equivalentcertifications across our facilities.

Helping our colleagues and customers travel
more sustainably
GREENER FOOTPRINT IN
OUR LOUNGES:The American Express Centurion
Lounge in San Francisco achieved
LEED Platinum certification under
LEED v3 Commercial Interiors byadhering to prerequisites and creditsthat address energy, water, waste,
and indoor environmental quality.

When our colleagues travel for work, we have started to display
more sustainability-focused options in our business travel booking
tool. Additionally, in 2022 we commenced a Green Compass
assessment with Global Business Travel Group, Inc. to provide
recommendations to enhance low-carbon options throughout
our colleague travel booking platform, develop internal policies,
and identify data tracking and reporting opportunities.

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Additionally, through our Global Insights and Advisory Team, we offer
our large and global corporate customers data-driven insights andbenchmarking that can help them consider changes to their travel
policies generally, including considerations related to lower carbon
travel alternatives.

Incentivizing green travel in partnership with Uber Green:
We partnered with Uber on a limited
time offer to encourage eligible
Corporate Card Members to take
Uber Green rides in October 2022.
Participating Card Members earned$10 in Uber Cash deposited directly
into their Uber account during
the limited time offer for taking an
Uber Green or Comfort Electric ride.
Uber Green is a lower-emissions
ride option that connects riders withhybrid and fully electric vehicles.

78% of respondents from American Express Travel’s 2023 Global
Travel Trends Report24 said they are interested in going on
vacations that support local communities. This year, American
Express introduced ‘Stay with Purpose,’ a new online directory of
hotels committed to initiatives such as furthering conservation,community development, and inclusive travel, which Card
Members can use to plan and book their trips.
24.	The American Express 2023 Global Travel Trends Report is based on data obtained through an online poll conducted by Morning Consult between February 3rd-11th, 2023 among a sample of 1,000 travelers from Australia, Canada,
India, Japan, Mexico, UK and 2,000 travelers in the US who have a household income of at least a $70k equivalent, and who typically travel by air at least once a year. Results from each market’s survey have a margin of error of plus orminus 3 percentage points.

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BUILDING MORE CLIMATE RESILIENT,SUSTAINABLE, AND EQUITABLE COMMUNITIESWe have seen the impact of extreme weather events in cities
around the world and we have made it a priority to invest ininitiatives that provide cities with the infrastructure and tools
to help prepare for environmental disasters and become moresustainable, which can help them to remain safe and thriving
centers of community, commerce, and tourism.

Backing Low-Carbon Communities
Our Backing Low-Carbon Communities grants support tocommunity-led climate initiatives, disaster response, riskreduction and resilience efforts, and nature-based solutions,particularly in urban areas. American Express set a goal toprovide at least $10 million to support initiatives, partnerships,
and programs that address the adverse effects of climatechange and pollution on communities from 2021 through 2025.
To support this goal, we launched a new Community Impact
Grant theme: Backing Low-Carbon Communities in 2022.

$10.4
MILLIONin grants provided to help build moreclimate resilient and equitablecommunities from September 2021
to December 2022, exceeding our goal
to provide at least $10 million by 2025.

Ahead of the United Nations Climate Change Conference(COP 27) in November 2022, American Express pledged
more than $5 million to organizations helping cities andcoastal communities build resilience against climaterelated events, including to the Ocean Conservancy, Urban
Sustainability Directors Network (USDN), Resilient Cities
Catalyst, and the Regional Plan Association. These grants
build on our work with American Forests, Earthwatch, andthe National Park Foundation announced in April 2022
designed to advance community-led climate initiatives
and nature-based solutions.

Some of the organizations who received our2022-2023 Community Impact grants to backlow-carbon communities include:

ACCELERATING SOLAR ENERGY INECONOMICALLY VULNERABLECOMMUNITIESWe are working with the Urban Sustainability Directors
Network (USDN) to help accelerate the adoption of solar
solutions for people impacted by energy costs and climatechange. We plan to provide $1.2 million in funding in 20222023 to support the installation of solar energy systems inlow- and moderate-income communities’ homes and small
businesses in Phoenix, Salt Lake City, and Sydney. These
cities will also share findings with hundreds of cities via the
USDN and the Carbon Neutral Cities Alliance (CNCA)
networks around the world.

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Supporting Disaster
Relief, Climate Action,
and Climate Resiliencein Cities Globally
We continued to support disaster
relief, climate action, andresilience initiatives incities globally. We partneredwith community organizations
including the American Red Cross,Feeding America, Habitat for
Humanity of Florida, Resilient
Cities Catalyst, Regional Plan
Association, Urban Sustainability
Directors Network, and others
in 2022 through Q1 2023.

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DATA$10.4 MILLION IN GRANTS PROVIDED TO BACKING LOW-CARBON COMMUNITIES GLOBALLY
Our Backing Low-Carbon Communities Grants supported disaster relief, climate action, and resilience initiatives in 17 countries
from September 2021 through March 2023.

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITYENGAGING
COLLEAGUESTHROUGH
GREEN2GETHEREngaging our colleagues in sustainability
initiatives is an important part of our Advance
Climate Solutions pillar. As part of ourGreen2Gether program, American Express
colleagues around the world can participate
in colleague-led sustainability initiatives.
Green2Gether activities include volunteeringwith nonprofit partners, waste and energy
reduction efforts, and healthy food initiatives.
In 2022 and 2023, colleagues engaged inenvironmentally focused in-person andvirtual volunteer activities and events
globally with our nonprofit partners,
including American Forests, the Central Park
Conservancy, the Ocean Conservancy, andthe Earthwatch Institute.

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REDUCING PLASTICPOLLUTION IN COASTALCOMMUNITIESColleagues volunteer in Phoenix during Green2Gether
activity with American Forests

Colleagues volunteer in the UK to plant Earthwatch’s 150th UK
Tiny Forest at White Hart Lane Recreation Ground, Haringey

Engaging and educatingcolleagues on sustainability
with Earthwatch

150th Tiny Forest
Colleagues in the UK joined community groups
to plant Earthwatch’s 150th UK Tiny Forest at
the White Hart Lane Recreation Ground,
Haringey. This effort was part of a grant issued
in 2022 to fund the planting of several hundred
trees in the UK to help communities connect
with nature, enhance biodiversity, and mitigate
the impacts of climate change. Colleagues andcommunities planted 600 trees in a tenniscourt size plot, designed to attract over 500
animal and plant species within the first three
years and provide an accessible green spaceand outdoor classroom for local urban
communities to connect with nature.
American Express colleagues will revisit theHaringey Tiny Forest in 2023 to assist withenvironmental data collection to help assess
the benefits of the forest over time.

In 2022, we partnered with Earthwatch on
initiatives to help engage colleagues onsustainability and climate action.
Climate Change Master Class
We co-hosted two Climate Change MasterClass series in the fall of 2022 and springof 2023. The four-part interactive series
was voluntary and available virtually to
all colleagues globally. The classes, led by
Earthwatch scientists, provided insights into
the impacts of climate change and actions
participants could take to reduce its effects
in their personal lives.

We began working with the Ocean
Conservancy in 2018 with an initiative
to mobilize our colleagues to help clean
up beaches in several countries. In
2022, we expanded our support toinclude a $2.5 million commitment in
grant funding to help prevent the flowof trash and plastic pollution into theocean and promote resilience throughthe Ocean Conservancy’s International
Coastal Cleanup® (ICC) and Urban
Ocean® programs.
American Express colleagues aroundthe world also participated in efforts
to clean up marine debris in 2022.
Since 2018, approximately 24,000
pounds of debris have been collectedby colleagues across eight countries
including Australia, Italy, Japan,
Malaysia, New Zealand, the Philippines,
Spain, and the US.

Promote
Diversity, Equity,and Inclusion

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PROMOTE DIVERSITY, EQUITY, AND INCLUSIONVISIONOur vision is to support a diverse, equitable, andinclusive workforce, marketplace, and society.
We see the diversity of people and experiences as fuel for the creativity
and innovation that make us better as a team and ultimately help usdeliver better results. Our Blue Box Values of “We Respect People,”“We Embrace Diversity,” and “We Stand for Equity and Inclusion” bringour vision to life to back our colleagues, customers, and communities.

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PROGRESS ON OUR PROMOTE DIVERSITY, EQUITY, AND
INCLUSION GOALSSTRATEGIC OBJECTIVESGOALSSUPPORT DIVERSE
REPRESENTATION, EQUALOPPORTUNITY, AND AN
INCLUSIVE CULTURE AT ALL
LEVELS OF THE COMPANY

Maintain 100% pay equity across genders globally and across races andethnicities in the US

ACHIEVED•M aintained 100% pay equity across genders globallyand across races and ethnicities in the US for the third
consecutive year

Double annual spending with underrepresented-owned suppliers in the
US from a 2019 baseline to $750 million by the end of 2024, including
increasing spending with Black-owned suppliers to at least $100 million
annually

IN PROGRESS•S pent $758 million in 2022 with underrepresentedowned suppliers in the US, including $60 million withBlack-owned suppliers

Provide access to capital and financial education to at least 250,000
underrepresented-owned small- and medium-sized businesses in the
US from late 2020 through 2024

EXCEEDED• Supported over 400,000 underrepresented-owned
small- and medium-sized businesses from October 2020
through December 2022

Develop more inclusive marketing initiatives, as well as design andbuild product experiences and programs that better meet the needs ofunderrepresented consumer and business customers

IN PROGRESS•L aunched Digital Accessibility Policy for American Express
National Bank in 2022

IN PROGRESS• Provided $30.5 million in grants to nonprofits focusedon addressing inequality and promoting social justice from
October 2020 through December 2022

MEET THE NEEDS OF
UNDERREPRESENTED
BUSINESSES AND
CONSUMERS AND DEVELOPMORE INCLUSIVE
MARKETING INITIATIVESADVANCE RACIAL EQUALITY
AND SOCIAL JUSTICE INOUR COMMUNITIESProvide $50 million in grants by the end of 2024 to nonprofits focusedon addressing inequality and promoting social justice, including those
led by members of underrepresented groups

STATUSPROGRESSINTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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DIVERSITY REPRESENTATION AND EQUAL OPPORTUNITY
We continue to work to build an inclusive and diverse workplacethat values every voice, rewards teamwork, celebrates different
points of view, and reflects the diversity of the communities inwhich we operate.
Global workforce diversity
We work to create a culture built on supportive relationships and an inclusive workplace
as reflected by our Blue Box Values. We regularly disclose representation data on our
global workforce to provide transparency, including our EEO-1 data and other information
featured in this report and our annual Proxy statement.

GLOBAL WORKFORCE HIGHLIGHTS

54%

52%

55%

OF OUR TOTAL GLOBALWORKFORCE ARE WOMENOF OUR EXECUTIVE COMMITTEE
ARE WOMEN OR FROMDIVERSE RACES ANDETHNIC BACKGROUNDS1OF OUR US WORKFORCEARE FROM DIVERSERACES AND ETHNICBACKGROUNDS2SENIOR VICE PRESIDENTS & ABOVE3

40.5%
WOMEN (GLOBAL)

17.7%
ASIAN (US)

8.1%

BLACK/AFRICANAMERICAN (US)7.3%

HISPANIC/LATINX (US)

1. Based on self-identified characteristics.
2.	Based on data for the 2022 US Employer Information Report (EEO-1) submission for Black/African American, Hispanic/Latino, Asian, Native American or
Alaskan Native, Native Hawaiian or Pacific Islander, and two or more races.
3. As of year-end 2022; based on the US EEO-1 job categories.

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BOARD OF DIRECTORS DEMOGRAPHICS4

29%

57

Racial/EthnicDiversity

%
64%

29%

GenderDiversity
71%

7%

4 BLACK/AFRICAN AMERICAN

OF OUR BOARD MEMBERS
ARE WOMEN OR FROMDIVERSE RACES ANDETHNIC BACKGROUNDS

1	HISPANIC/LATINX

10 MEN

9	WHITE

4 WOMEN

2022 US WORKFORCE DIVERSITY5
3.8%
ASIAN
BLACK/AFRICAN AMERICANHISPANIC/LATINX
WHITE
OTHER

45.3%

18.7%

Racial/EthnicDiversity6

17.9%

57.7%

GenderDiversity

MEN

42.3

%

WOMEN

14.2%

Our full US Workforce Employer Information Report (EEO-1) data can be found in the Supporting Data section.

4. Based on self-identified characteristics. Data is following our May 2, 2023 annual meeting.
5. As of year-end 2022; based on the US EEO-1 job categories. Some percentages do not sum due to rounding.
6.	US racially/ethnically diverse colleagues based on US EEO-1 categories including Black or African American, Hispanic or Latino, Asian, Native American, or
Alaskan Native, Native Hawaiian or Pacific Islander, and two or more races.

Since 2016, American Express has been includedin the Bloomberg Gender-Equality Index (GEI),The GEI highlights public companies committed todisclosing their efforts to support gender equality throughpolicy development, representation, and transparency.

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Maintaining 100% pay equity

Hiring, promotions, and retention

We regularly review our compensation practices to ensure colleagues in the same job, level,
and location are compensated fairly regardless of gender globally and regardless of race andethnicity in the US. Since 2017, we have conducted annual pay equity reviews with independent
experts. This analysis covers our entire global colleague base across genders globally andacross races and ethnicities in the US, assessing pay on a statistical basis and considering key
factors that influence compensation, including but not limited to tenure, role, level, geography,
and performance.

Our focus is on promoting an inclusive and equitable culture for all colleagues. As part of ourcommitment to ongoing transparency, we provide detailed disclosures on hiring, promotion
and talent retention rates, including across genders globally and disaggregated data by raceand ethnicity in the US.

In 2022—for the third consecutive year—we maintained 100% global pay “equity,” meaning nostatistical differences in pay across all genders globally, as well as across all races and ethnicities
in the US, making all necessary and appropriate salary adjustments. Our pay equity achievement
is supported by compensation policies, processes, and practices designed to pay colleagues inall roles and at all levels based on performance and other business-related criteria.
Beginning in 2021, we began disclosing our “raw median pay gap” for women globally and for
racially/ethnically diverse colleagues in the US. This metric compares differences in raw medianbase pay, with no adjustments for factors such as role, level, tenure, performance, or geography.
In 2022, the median pay for women globally at American Express was 105.1% of the median pay
for men. The median pay for racially/ethnically diverse colleagues in the US was 88.3% of thatfor white colleagues.7
We believe our pay equity review provides a more accurate and comprehensive picture of ourcompensation practices overall because it provides a more granular view that considers many
important factors known to affect an individual’s compensation. For this reason, we use pay
equity as the standard we hold ourselves accountable to. We remain committed to maintaining
100% pay equity for colleagues across genders globally and across races and ethnicities in the
US by continuing our annual pay equity review process.

7.	US racially/ethnically diverse colleagues based on US EEO-1 categories including Black or African American, Hispanic or Latino, Asian, Native American,
or Alaskan Native, Native Hawaiian or Pacific Islander, and two or more races.

2022 HIRING, PROMOTIONS, AND RETENTION RATES
WomenGlobally

Men
GloballyUS
Asian8US Black/
AfricanAmerican8

USHispanicor Latinx 8

US
Other 8,9

USWhite8New Colleague Hires

56%

44%

16%

34%

15%

5%

30%

Colleague Promotions

52%

48%

22%

11%

13%

3%

50%

Colleague Retention

84%

85%

85%

61%

82%

77%

88%

8. Race/ethnicity based on self-identified information. Less than 1% of new colleague hires did not disclose their race or ethnicity in 2022.
9. Includes colleagues that self-identify as Native American or Alaskan Native, Native Hawaiian or Pacific Islander, or two or more races.

In 2022—for the third consecutive year—wemaintained 100% pay equity for colleagues
across genders globally and across races andethnicities in the US.

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A milestone of meaningful work:
Colleagues mark 45 years at American Express
We celebrate our colleagues around the world that have reached a true
milestone in 2022: 45 years with American Express. Through their
dedicated tenure, they bring decades of powerful backing to ourcustomers, communities, and to each other.
John McHugh, a colleague on our Global Security Team in Salt Lake City,
joined American Express in 1977. McHugh, who started right out of college
as an Investigative Assistant, credits his longevity with American Express to the many ways
the company’s culture has helped him to grow and to challenge himself.
“American Express has allowed me to balance both my family and my work life. My father said
if you enjoy what you do, you’ll never have to work a day in your life.”

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Organizations we work with
We work with organizations and develop recruitment practices that support opportunities torecruit candidates with a broad range of backgrounds and experiences. As part of this, we’veleveraged insights from our work with external organizations to help inform our skills-based
strategy, which places skills and competencies front and center throughout our talent processes.
Altogether, we’ve established relationships with more than 30 organizations and signed morethan 20 pledges around the globe to recruit talent, support our colleague base, and provide
backing in the communities where we live and work.
American Express works with various organizations that seek to emphasize the value of skills,
rather than just degrees, and to improve equity, diversity, and workplace culture, including
OneTen, Business Roundtable (Multiple Pathways Initiative), and New York Jobs CEO Council.

Developing new talent through apprenticeships with Multiverse and Year Up
In 2022, we teamed up with Multiverse, a mission-driven organization that builds modern
apprenticeship programs for people that have the skills and qualifications for a role, but who
may not have a four-year degree. By working with Multiverse, American Express offers over
40 tuition-free, paid apprenticeships in the US. Apprentices join the company as a paid employee
for 12-15 months and receive on-the-job learning and training.
Our relationship with Multiverse complements and builds on our relationship with Year Up, anorganization we have worked with since 2007 to address the need for a strong entry-level talentpipeline and increase the representation of diverse candidates across the enterprise. In 2022,
American Express hosted over 120 skills-based participants via apprenticeships or internships
across the US.

American Express 2022 Summer Interns#2on the inaugural American Opportunity Index for ourleadership in career growth and advancement forcolleagues without a college degree.

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SUPPORTING OUR COLLEAGUESIn order to foster a deeper sense of belonging and community across the company, we strive tolisten to our colleagues across a variety of touchpoints, while simultaneously offering
opportunities for learning and growth.
Our Colleague Networks

These include:

By bringing together people who share common experiences,interests, and backgrounds, our Colleague Networks are an
important part of creating a culture of inclusion andcommunity at American Express. They also serve as animportant source for feedback—helping us learn more about
the colleague experience and, in turn, guiding the resources,
events, and backing we provide.

• Asian Network at
American Express (ANA)• Hispanic Origin & Latin
American Network (HOLA)• Black Engagement
Network (BEN)• Jewish Network (CHAI)• Christian Network (SALT)• PRIDE+ Network• Disability AwarenessNetwork (DAN)• Veterans Network (VET)

Our first documented Colleague Network was formed in 1920
to bring colleagues across the company closer together
through recreation, athletics, and study. Colleague Networks
are voluntary and continue to evolve. We have 14 dedicatedColleague Networks with more than 120 chapters worldwide.

• Families at
American Express Network• Generations Network(NextGen)• Muslim Network (PEACE)• Virtual Office Network• Women in Technology
Network (WIT)• Women’s Interest
Network (WIN)

These groups offer networking, growth opportunities, and theability to get more involved within the company. They are also
an important source of feedback, through which we learn
more about our colleagues’ experiences and subsequently
tailor the resources and support we provide accordingly.

CELEBRATING GENERATIONALINCLUSION THROUGH NEXTGENIn 2022, the Millennial and Generations Colleague
Networks combined forces to form NextGen, whichaims to understand, support, and integrate different
generations within the company by amplifying theirunique needs, points of view, and expectations tofurther drive our culture of inclusion and belonging.
NextGen is comprised of chapters globally and has
a mission to strengthen generational inclusion bycelebrating generational differences and similarities,
fostering community and collaboration, and propellingpersonal and professional growth.
During Intergenerational Month in September 2022,
NextGen hosted its first-ever global panel with members
and sponsors from across the globe to discuss
generational characteristics, challenges, misconceptions,and the potential shifts in the future of our workforce.
Colleague led initiatives continued throughout the year,
including fireside chats, personal and professional
development sessions, and mentorship.

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Advancing disability inclusion
American Express works to remove barriers by developing
inclusive practices and fostering awareness with educationand engagement so that all colleagues can contribute andsucceed at work.
The Disability Awareness Network (DAN), formed in 2004,
has been instrumental in driving our disability agenda andsustaining our culture of inclusion and belonging. In 2022,
they introduced the DAN Global Advisory Committee (GAC),
which liaises with DAN’s global sponsor, local executive
sponsors, and local chapter leads to further encouragecolleague engagement and learning. For example, in 2022,
DAN hosted an Assistive Technologies Awareness session tohighlight assistive technology features and additional softwarethat is available for download.
Beyond the important work of DAN, several other impactfulcompany initiatives also focused on disability inclusion. In
February 2023, we launched our new Disability Inclusion
eLearning series, a voluntary series—designed in collaboration
with colleagues—to build awareness and understanding of
disabilities. The series featured modules with colleague
stories, resources for continued learning, and a discussion
guide to facilitate conversation.

Best Place to Work for
Disability Inclusion on
the Disability Equality
Index in 2022

Through our partnership with Disability:IN and membershipin the Inclusion Works community, we collaborate directly withdisability inclusion experts. In 2022, we awarded a $500,000
grant over two years to Disability:IN to support workforce
development for people with disabilities in the US, develop andpilot an Early Career Accelerator for young working professionals,
and support advocacy for the disability community.
We have also continued our membership in the Valuable 500
in the UK, which enlists companies to keep disability inclusionon the leadership agenda and make a commitment to action.

Recipient of CanadianFoundation for
Physically Disabled
Person’s Corporate
Award in 2022

For more information on our accessibility initiatives, see theIncreasing Accessibility section of this report.

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Backing service members and veterans
We launched the Amex Veterans Network (VET) in 2012 tosupport our colleagues who currently serve or have servedin the military, have friends or family in the military, or justwant to show their support for the military. Active in several
geographies in 2022, the VET Network celebrated events
like Memorial Day, National PTSD Day, Military Appreciation
Month, Veterans Day, and Armed Forces Day. Our VET
colleagues also hosted Operation Red, White, and Blue
events in collaboration with our Reward Blue program at
offices across the US, while also participating in community
activations that support veterans and their families, such as
Wreaths Across America.

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Additionally, American Express UK maintained the Silver
Employer Recognition Scheme (ERS) award in 2022 from the
UK Ministry of Defence recognizing our ongoing commitment
to supporting veteran employees and the wider Armed Forces
community. To celebrate the occasion, UK VET network
colleagues attended the ERS Award Ceremony and toured
the Honourable Artillery Company with blue light escort to a
gun salute at the Tower of London.
American Express also supports veterans in other ways
throughout the year, including awarding grants to several US
veteran-owned businesses with Backing Small grants,
offering credit relief for eligible active-duty Card Members
through the Servicemembers Civil Relief Act (SCRA) and theMilitary Lending Act (MLA), and partnering with the National
Veterans Business Development Council (NVBDC) to support
Veteran’s Business Enterprises (VBE) in our supply chain.
For more information, see the Backing Economically Vulnerable Small
Businesses section of this report and Supplier Diversity.

Colleagues and members of US World War I Centennial Commission at
WWI Memorial Sculpture

In early 2023, US VET colleagues attended a World War I
memorial dedication for a sculpture project funded by
the American Express Foundation.
“The event was amazing. Saban Howard, the sculptor
creating the World War I Memorial took our teamthrough the design and production process. It was very
powerful and moving.”–D ANIEL MCGRATH,SENIOR MANAGER AND MEMBER OF VET NETWORK

Colleagues in our VET Network at Operation Red, White, and Blue event in NYC

Colleagues in our UK VET Network accepting the Silver Employer Recognition
Scheme (ERS) award

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Fostering inclusion for colleagues
American Express has a variety of global programs designed
to promote inclusion in our workforce and celebrate ourcolleagues, examples of which are included below.
Backing women colleagues and women-owned
small businesses
We created the Women in Leadership event to foster
networking and inspiration among senior women in business,both at American Express and other companies, including ourclients and partners. In 2022, we organized the event aroundthe US Open in New York, with Anna Marrs, Group President,
Global Commercial Services and Credit & Fraud Risk,
and several other American Express female Executive
Committee members serving as hosts. In 2023, we alsocelebrated small, women-owned businesses on International
Women’s Day in 2023.

American Express colleagues at Women in Leadership Event

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Backing Black and African American colleagues andBlack-Owned small businesses
Our Black Engagement Network (BEN) hosted events forour colleagues across the US and Canada in 2022-2023.
BEN works to provide an environment for colleagues toengage in meaningful dialogue, build relationships, and offer
support. We also honored Black History Month in 2023 byhighlighting Black-owned small businesses that received
American Express-backed grants through our Backing Small
grant programs.
Backing Hispanic and Latinx colleagues
Our global Hispanic and Latin American Colleague Network(HOLA) celebrated Hispanic and Latinx Heritage Month by
hosting global events focused on Proudly Backing Hispanixand Latinx Achievement. This included organizing the first
Hispanic/Latinx Leadership Summit in New York in 2022.
Backing Asian, Asian American, and Pacific Islander
colleagues and communities
In recognition of Asian Pacific Heritage Month in 2023,
we celebrated with global and local events, coordinated inpartnership with our Asian Network at Amex (ANA) andorganized around the theme, “Make Culture Shine:
Proudly Backing All Asian Communities.” We also honored
Asian Pacific American Small Business Owners and Backing
Small Grant Recipients.

Sydney WorldPride With You&Proud

Backing LGTBQ+ colleagues
We continue to back our LGBTQ+ colleagues by offering
inclusive benefits, including gender-neutral parental leave, andpartnering with our PRIDE+ Colleague Network to host eventsand open forums. We celebrate PRIDE month annually, and inJune 2022, we celebrated with the theme, “Live Beyond
Labels: Proudly Backing All of You.” In 2023, we celebrated
Sydney WorldPride in Australia by creating a special
experience for select With You & Proud recipients.

19 Years and counting of leading
LGBTQ+ benefits and practices
Since 2004, American Express hasscored 100% on the Human Rights
Campaign (HRC) Corporate Equality
Index. In 2022, HRC named American Express to their list ofBest Places to Work for LGBTQ+ Equality.

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SUPPORTING UNDERREPRESENTED-OWNEDBUSINESSES
We exceeded our initial objective of spending $1 billion
toward our DE&I Action Plan in March 2022 and in August2022 we announced a plan to spend an additional $3 billion
toward DE&I initiatives, for an ambition to spend $4 billion
in total from late 2020 through the end of 2025. The majorityof additional spend will continue to be allocated tounderrepresented-owned suppliers.

Supplier diversity
As part of our DE&I Action Plan, announced in October
2020, we set a goal to double our annual spend with underrepresented-owned suppliers in the US from a 2019 baseline
to $750 million by the end of 2024, including increasing spend
with Black-owned suppliers to at least $100 million annually.
In 2022, we spent $758 million with underrepresented-owned
suppliers, including $60 million with Black-owned suppliers.
In 2022, our spend with underrepresented-owned suppliers in
the US also included $477 million with US women-owned
suppliers, $164 million with US Asian-owned suppliers, $149
million with US Hispanic-owned suppliers, $23 million with US
LGBT-owned suppliers, $6 million with US veteran-owned
suppliers, and $2 million with US disability-owned suppliers.10

In 2022, we introduced more than 50 new underrepresentedowned suppliers to our program and began working withselect suppliers to help track their own diverse supplierspend across their supply chains.
To build a more diverse and inclusive supply chain, we
consider at least one diverse vendor for each request for
proposal. We track and measure our annual spend withcertified business enterprises run by underrepresented
owners and operators, including:

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SUPPLIER DIVERSITY BY THE NUMBERS238
Underrepresented-owned Suppliers in 2022
US Underrepresented-owned Annual Spend
2022 Actual$758M• Minority-Owned Business Enterprises (MBE)• Black-Owned Businesses

2024 Goal$750M• Women-Owned Business Enterprises (WBE)• LGBT-Owned Business Enterprises (LGBTE)• Veterans Business Enterprises (VBE)• Service-Disabled Veterans Business Enterprises (SDVBE)• Disability-Owned Business Enterprises (DOBE)• Small Business Enterprises/8(a)/HUBZone firms

10.	Certain amounts of spend are included in multiple categories, such as a supplier that is both a women-owned supplier and veteran-owned supplier.

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We continue to work with supplier diversity advocacy
organizations to expand opportunities for diverse suppliers.
In 2022, we began working with the Canadian Aboriginal andMinority Supplier Council (CAMSC) and OutBritain (UK).
Supplier diversity organizations we work with include:US:

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Reconciliation Action Plan in Australia• US Black Chambers—ByBlackOur Reconciliation Action Plan in Australia is anotherexample of our focus on responsible procurement. Thisaction plan not only reflects, celebrates, and supports therole that Aboriginal and Torres Strait Islander people play inthe country, it also communicates our desire to work with
suppliers who share the same values related to supplier
diversity, ethical sourcing, operating responsibly (including
environmental sustainability), human rights, gender equality,and ending modern slavery.

• Women’s Business Enterprise National Council (WBENC)
Globally:• Canadian Aboriginal and Minority Supplier Council (CAMSC)• Disability:IN• Minority Supplier Development UK (MSDUK)• Financial Services Roundtable for Supplier Diversity (FSRSD)• OutBritain (UK)• National LGBT Chamber of Commerce (NGLCC)• Supply Nation (Australia)• National Minority Supplier Development Council (NMSDC)• WEConnect International
Learn more in our Australia Reconciliation Action Plan.

Increasing transparency on Supplier Diversity
with Corporate Clients
American Express recently launched an updated
Supplier Diversity report in the @work management
platform, available for all Corporate Card program
clients (enrollment required). The report, which
identifies diverse suppliers included in US point-of-salespend on American Express Corporate Program
products, now provides improved data accuracy andexpanded merchant network coverage. We have also
standardized and simplified our supplier diversity
categories and added additional sub-categories andcertification details.
Issa Rae joins fellow small business owners for a content shoot58

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Connecting underrepresented-owned businessto capital and support
We set a goal to provide at least 250,000 underrepresentedowned small- and medium-sized US businesses access tocapital and financial education from late 2020 through 2024.
In 2022, we exceeded that goal—two years early—with
support for over 400,000 underrepresented-owned
businesses by delivering educational resources, mentorship,
marketing support, access to capital, and more. Programs
that contributed to our progress include continuing to provide
access to Business Class, our Contract Connections program,
ByBlack, and ChallengeHER.
Now, we have increased the goal to support 750,000
underrepresented-owned businesses with funding andresources from late 2020 through 2025.
New 2025 goal to support underrepresented-owned
small- and medium-sized US businesses
2024 Goal 250,000
2022 Actual2025 New Goal

409,492

EXCEEDED

750,000

IN PROGRESSWe also maintained our support of Minority- and WomenOwned Business Enterprises (MWBEs) as part of our capital
markets funding and share repurchase programs. In 2022, we
engaged six MWBEs for underwriting and share repurchases.

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Continued expansion of ByBlack with the US
Black Chambers, Inc.
American Express and the US Black Chambers, Inc. worked
together to expand the ByBlack business directory and thefirst national certification program exclusively for Blackowned businesses. This no-cost digital platform unlocks
more ways to reach new customers and secure contracts forBlack-owned businesses across the US.
Continuing Business Class and expanding
Contract Connections
We continue to provide small business owners with accessto Business Class, a free platform that builds a nationwide
network of support by offering small business owners tailorededucational resources, mentorship, and opportunities to learn
from industry experts.
In July 2022, over 5,000 small business owners from acrossthe US came together for the 10th annual Business Class Liveevent, a complimentary program celebrating the resiliency ofsmall businesses and the continued strength of New York City.
Participants engaged in interactive panels and workshops anddiscussed important topics, including cashflow management,
marketing strategies, and wellness in the workplace.
We also continue to expand our Contract Connections
matchmaking program, in partnership with National 8A,
which connects small business suppliers to large corporate
and government buyers and enabled over 1,000 one-on-one
sessions in 2022.

ByBlack makes it easier for customers to locate Black-owned
businesses and learn more about their products and services.
By providing certification, it allows participating companies tostand out and unlock opportunities to help secure contracts
with large potential buyers.
Enhancing opportunities for women-owned businesses
In 2013, American Express, along with Women Impacting
Public Policy and the US Small Business Administration,
launched ChallengeHER to help boost the prospects ofwomen entrepreneurs to gain government contracts. The
program continues to offer free training webinars, workshops,
mentoring, and direct access to government buyers and local
partner resources.
ChallengeHER has hosted over 200 webinars and facilitatedover 5,220 meetings between women-owned small businesses
and government officials from 2013 through the end of 2022.
In 2022, more than 1,475 attendees participated in
ChallengeHER webinars.

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Extending our reach through community investment

Global Inclusive Marketing Framework

In 2021, American Express committed to provide $40 million
to Accion Opportunity Fund, a nonprofit community
development financial institution and small business lender,
to expand access to loans for historically underfunded small
businesses in the United States, including those owned by
women and underrepresented groups. As of December 2022,
American Express funded $30 million of the committment
and in 2022 alone, Accion Opportunity Fund deployed over
$16 million of capital to approximately 1,180 small- andmedium-sized businesses in the US.

We developed the Global Inclusive Marketing Framework
to provide marketers with resources to help support our
inclusive marketing initiatives. In particular, the Framework
focuses on individuals seeing themselves reflected in theAmerican Express brand and knowing that we understand,respect, and back them.

See our Backing Small Grants section of this report to see how havesupported economically vulnerable small business owners.

Increasing accessibility

In addition to the Framework, we:• Joined the Alliance For Inclusive and Multicultural Marketingin 2021• Participated in the Digital Advertising Alliance (DAA)
self-regulatory program and adhere to the DAA principles
for Online Behavioral Advertising, which allows customers
to opt-out of targeted advertising from American Express
on websites and also opt to not receive marketing
communications.

Digital accessibility
Providing inclusive digital experiences is part of our customer
centric ethos. Our Digital Accessibility Policy outlines
requirements to provide digitally accessible experiences forour public-facing US-based web and mobile experiences,including to individuals with auditory, cognitive, physical,
neurological, speech, and visual disabilities. To further
support this policy, we established internal technology
standards for public-facing digital content and experiencesthat were designed in accordance with the applicable portionsof the WC3’s Web Content Accessibility Guidelines version 2.1(WCAG) standard that aims to help reduce barriers for people
with disabilities.

Learn more about our Disability Inclusion efforts for our colleagues
in Advancing Disability Inclusion section of this report.

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BACKING EQUAL FUTURES IN COMMUNITIESBacking Equal Futures
We set a goal to provide $50 million in grants focused on
addressing inequality and promoting social justice from late
2020 through 2024 and have provided over $30.5 million in
grants from October 2020 through December 2022.
Through our Backing Equal Futures grant priority, we support
projects and programs that provide skills and pathways toprepare youth for opportunity and long-term success andthe future of work. Notable grant recipients include theInternational Rescue Committee, YMCA of the USA, and the
US Fund for UNICEF.

Advancing economic opportunity inunderrepresented communities
In October 2022, we announced a $2 million pledge fromthe American Express Foundation to United Negro College
Fund (UNCF) to help advance opportunities for students inunderrepresented communities. From 2023-2025, UNCF will
use the funding to award 300 Building Better Futures grants
of $5,000 each to students in their senior year at historicallyBlack colleges and universities (HBCUs). These grants will
support students as they look to transition into the next phaseof their careers after graduation.
Funding also supports UNCF’s existing K-12 Initiative, which
promotes college readiness by educating and empoweringparents, community leaders and students across the nation.
These efforts are part of the many ways American Express isdelivering on its priorities to promote diversity, equity, andinclusion, as well as build financial confidence in thecommunities it serves. Learn more in our announcement.
In addition, we’ve also established relationships withorganizations such as the Thurgood Marshall Fund and HBCU
Connect to provide career readiness programming and accessto internships and full-time career opportunities to HBCU
students and alumni.
Photo Credit: © UNICEFPacific/2021/lwakuni
Twelve-year-old student Betangnga from Bikinibeu village in South Tarawa uses the
Learning Passport to help him continue studying to achieve his dream of becoming
a medical doctor

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BUILDING RESILIENT CHANGEMAKERS AT THE AMERICAN EXPRESSLEADERSHIP ACADEMY
Supporting nonprofit leaders through theAmerican Express Leadership Academy
For over a decade, the American Express Leadership Academy
has focused on enhancing the business and leadership skillsof emerging nonprofit and social leaders. The program isdesigned to give nonprofit leaders an opportunity to learn
from each other’s experiences, collaborate on ideas andsolutions, and gain insight from leaders across the social,public, and private sectors.

Since its launch, the Leadership Academy has helped morethan 165,000 social purpose leaders around the world reach
their potential. In 2021, we set a goal to increase therepresentation of American Express Leadership Academy
participants who are from underrepresented groups from
50% to 75% by the end of 2024. Since that time, we have
evolved the program from being US-based to a global series ofacademies held around the world. As a result, we are no longer
tracking progress on this goal, which was applicable only to
the US. Beginning in 2023, we plan for the program to hostregional cohorts annually in the Americas, UK/EMEA and
Asia-Pacific regions.
In March 2023, we relaunched the American Express
Leadership Academy, with a new theme of Resilient
Changemakers to help nonprofit leaders innovate and meetthe rapidly changing needs of communities around the world.
The program brought together 76 nonprofit leaders to New
York City for the first in-person event in over three years toengage with experts and each other over four days, focused onbuilding personal resilience and building new leadership skills.
This class of nonprofit leaders came from the US, Canada,and Latin America, and represented 65 organizations working
across communities. American Express co-hosted theAcademy with Common Purpose, with programming support
and partnership from the TED Foundation and Taproot
Foundation.

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Backing Our
Colleagues

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CLIMATE SOLUTIONSBACKING OUR COLLEAGUESYou Lead the Way. We’ve Got Your Back.
We are committed to supporting our colleagues’ personal andprofessional growth and holistic well-being as well as fostering an
inclusive culture built on integrity and trust.

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BACKING OUR COLLEAGUESTogether, we strive to uphold our company’s Blue Box Values and work together to deliver on
our powerful backing promise to our customers and each other every day.
Our Colleague Value Proposition

The CVP formalizes the ways we support our colleagues in four key areas:

Our Colleague Value Proposition (CVP)
represents our investment in our colleagues
and captures the many ways we back themand provide a great experience every day.
In 2022, we continued to invest in ourcolleagues, building on a wide range oflearning and development opportunities andenhancing our competitive benefits in key
areas including holistic health and wellness,
total compensation, and flexibility.

CULTURECAREER GROWTH& DEVELOPMENT
AMEX
COLLEAGUEVALUEPROPOSITIONTOTAL REWARDS &HOLISTIC WELL-BEING

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2022 Colleague Experience Survey results
Results are up year-over-year across all eight categories% favorable

87

87

88

84

89

88
85

83

86

87

87

84

83

83

84

80

My
Engagement

My
LeaderMy Senior
Leadership

My
Development
and Career

2021 ResultsMy
Inclusion

My
Work

My
TeamworkMy
Well-being

2022 Results

We engage our colleagues regularly, including through initiatives and an annual internal
colleague survey and other feedback channels. Key findings from our 2022 annual Colleague
Experience Survey include: 92% of our colleagues who participated in the survey would
recommend American Express as a great place to work; 87% say there are development
opportunities for them at the company; 90% believe that their leader creates an environment
where everyone is treated fairly; 89% feel encouraged to provide their ideas about improving theway we work; 91% believe diverse perspectives are valued on their team; and 92% feel supportedby their leader in making decisions about their well-being.
These metrics all show improvement year-over-year. We hope to continue to make progress as
we seek to improve our colleagues’ experiences at American Express.

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OUR WORKPLACE CULTURE
Our culture is built on strong relationships, shared values and purpose, and a commitment
to back our customers, communities, and each other.
Amex Flex: a year after launch
Launched in March 2022, Amex Flex is our new way ofworking which allows our colleagues, depending on role andbusiness needs, to work in the office, at home, or take ahybrid approach that combines both.
Our first office sites to adopt Amex Flex were in the US andthe UK in the first quarter of 2022. Since then, offices in 25
countries have adopted Amex Flex, and colleagues haveembraced our new way of working, noting the positive impact
it has had on their lives, both personally and professionally.

We have introduced new technologies to enhance theworkplace experience and make it easy to collaborate,
including equipping our conference and huddle rooms withhigh-definition videoconferencing technology. We’ve also
provided our leaders with resources and tools to support
their colleagues’ careers and development, and help
promote day-to-day engagement.

Engaging colleagues in community impact
We have a long history of working with our colleagues sothey can back their communities. Dating back to 1885,
American Express engaged colleagues to help raise$100,000 to complete the construction of the Statue of
Liberty’s pedestal. In 1972, the company launched its first
employee Giving Campaign, which encouraged colleagues
to donate to local charitable organizations. This effort has
evolved into an annual campaign held every October called
Give2Gether, during which American Express matches
donations from colleagues to support causes andcommunities around the world.

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Give2Gether

Serve2Gether

During the 2022 Give2Gether Campaign, more than 13,000
colleagues donated to causes they care about. American Express
matched eligible pledges bringing our annual total Give2Gether
contributions to over $10 million. These funds were provided toover 3,800 nonprofit organizations helping to support criticalprograms in 81 countries.

In addition to making donations, many colleagues also
donate their time in their communities through thecompany’s flagship volunteering program, Serve2Gether.
Serve2Gether provides American Express colleagues anopportunity to engage in both in-person and virtual volunteer
opportunities with nonprofits and partners aligned with
American Express’ Community Impact priorities. Several
thousand colleagues took part in volunteer activities andvoluntary educational events across the globe in 2022,
many in-person after a hiatus due to the pandemic.

For more information on our support for humanitarian relief efforts in
the Ukraine, please see Helping Our Customers Give Back to theirCommunities.

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3,814 nonprofits supporting
programs in 81 countries were
provided funds through the2022 Give2Gether campaign

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SUPPORTING OUR COLLEAGUES’ HOLISTICHEALTH AND WELL-BEING
We back our colleagues and their loved ones with benefits and programs that promote theirholistic well-being. That means we support their physical, mental, and financial health througheach stage of life.
Physical health with Healthy Living
We support our colleagues physical health and well-being
through our innovative, award-winning global corporate
wellness program, Healthy Living. Healthy Living highlights
the importance of preventive health, encourages and rewards
healthy goals, and provides colleagues and their loved ones
with the support they need.
We provide free access to on-site wellness centers globally,
staffed by board-certified nurses and physicians. To help ourcolleagues reach their personal health goals, we also provide
free wellness coaching.
Awarded Best Employers: Excellence in
Health & Well-being for the 12th Year.
(Business Group on Health—2023)

SUPPORTING OUR COLLEAGUESWITH CANCER: WORKING WITHCANCER PLEDGE
In January 2023, American Express joined the global
Working With Cancer initiative to provide a more open,
supportive, and recovery-forward culture at work forcolleagues coping with cancer, whether as patientsor caregivers.
“The Working With Cancer Pledge aims to reduce thestigma and insecurity that exists for people with cancer
in the workplace.”–M
 ONIQUE HERENA,
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Mental healthCelebrating 10 years of Healthy Minds
We provide resources and support to increase awarenessabout mental health among our colleagues, while also making
it easier for them to get help when they need it.
In 2022, we are celebrating a decade of our global Healthy
Minds Program, designed to reduce stigma around mental
health and back colleagues and their loved ones’ mental
well-being by providing free counseling, grief and loss support
tools, meditation sessions, group sessions, and industryleading mental health counseling and support. This program
is available to our colleagues in 38 countries and extends toanyone they live with. We’re proud of the progress we’ve madetogether, the conversations we’ve facilitated, and the support
we’ve offered each other—especially throughout the pandemic.

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Since launching Healthy Minds, we have continued to innovateand strengthen our program, and today also offer telehealthand mental health training.
In 2022, we launched a new partnership with Lyra to bring our
US colleagues access to mental and emotional care. Lyra
matches colleagues to the right care for their needs, fromshort-term therapy and coaching to digital mental wellness
tools to a high-quality network of licensed counselors.
Benefits include 10 sessions of free counseling per year
regardless of medical plan for our US colleagues and theirhousehold members.

Providing family and caregiver support forcolleagues
We back our colleagues by providing expansive and impactfulfamily support. For US colleagues who choose adoption,
surrogacy, or egg/sperm donors, we offer reimbursement thatcovers expenses up to $35,000 for up to two events, with alifetime maximum of $70,000. The support continues after

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colleagues welcome their new family members. Under our
gender-neutral parental leave policy, eligible colleagues in the
US can take up to 20 weeks parental leave with full base pay,
whether they’re welcoming a child through pregnancy,
adoption, or surrogacy. We also provide six to eight weeks ofadditional leave if medically necessary.

20 weeks of gender-neutralparental leave with 100% base pay
in the US

We also provide colleagues in Canada, the UK, and the US
access to backup dependent care when their regulararrangements fall through, as well as connection with 24/7
consultants who can help arrange in-home care for an adult
loved one recovering from an illness or injury. We also provide
support for families with children with disabilities, including
access to care consultants, counseling, educational sessions,and enhanced benefits coverage.
Awards and recognitions for backing our colleagues
with families• #4 Great Places to Work: Best Workplaces For Parents(2022)• Seramount Best Companies for Dads (2022)

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Building financial confidence for colleagues
Through competitive benefits, financial support such asadditional contributions to US colleagues’ retirement accounts
and skills-building opportunities, we’re helping our colleagues
build financial confidence and resilience so they can live well
now and in the future. Our global financial well-being program,
Smart Saving, provides tools and resources to help colleagues
build their knowledge and skills for all life stages.
In the US, our Smart Saving program includes financial planningcoaching sessions, workshops, retirement webinars, andon-demand access to financial education resources, as well as
offers for savings on everyday expenses. We also provide US
colleagues access to Ayco’s Financial Wellness program, which
includes a digital platform, one-on-one guidance from afinancial coach, and financial planning webinars.

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BACKING OUR
COLLEAGUESRetirement funds are an important way to help build financial
confidence for the future. For US colleagues, we match 100%of 401(k) contributions up to 6% of total pay after six monthsof service, and all matching contributions vest immediately.
Eligible US colleagues hired for the first time on or afterJanuary 1, 2017 as well as eligible employees rehired on orafter January 1, 2022 are automatically enrolled at 6% of total
pay, up from 3% in 2021, with 1% automatic annual increase
up to 10% of total pay, unless the colleague makes analternative election to contribute at a different rate or opts
out of automatic enrollment. This plan design feature was
implemented to encourage savings and ensure thatparticipating colleagues receive the full company matchas soon as they are eligible.

Helping make college more affordable
The American Express Scholarship Program, funded by theAmerican Express Foundation, invites the dependent childrenof active US and Canadian colleagues to apply for awards from$2,000 to $4,000 per year1. Administered independently
by Scholarship America, funds are awarded based on a
combination of merit and financial need. In addition, allapplicants are eligible to be considered for a one-time award
of $750 based on academic performance and overall
achievement. In 2022, we provided over $430,000 in
employee scholarships.

1. Colleagues must be active employees as of February 1 of the year that they apply for the Scholarship and work at least 20 hours per week.

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Additionally, for the fourth consecutive year, we helped
our US colleagues manage their student debt through the
SAVEtember and Smart Saving Student Debt Programs.
In 2022, the program Dollars for Scholars provided 100
colleagues with a $1,000 cash reward used to pay down
student loan debt once they complete a coaching call on
managing their student loan debt with our financial planning
partner, Ayco Personal Financial Management (Ayco).
For colleagues with school-aged children, we offer educational
support for US colleagues and their family members, including
free college admissions advising. In 2022, we also added
subsidized virtual tutoring for ages five and up.
For more information on how we’re building financial confidence forour customers and communities, please refer to the Build Financial
Confidence section of this report.

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BACKING OUR
COLLEAGUESCAREER GROWTH AND DEVELOPMENT
We back our colleagues by offering a range of relevant learning and development opportunities
with resources, feedback, and support so colleagues can build meaningful careers and leverage
their talents and strengths.
New People Leader Program

17.3 hours of mandatory
training on average perin-scope colleague in 2022
Harvard Leadership Edge
Our Harvard Leadership Edge program is a hands-on,
customized skill-building program that enables colleagues
to learn from each other and prepares them to reach theirleadership potential. This eight-week voluntary programis grounded in our Leadership Behaviors and empowers
colleagues to put what they learn into practice to develop
professionally and personally.

7,400+

Over 7,400 colleagues haveenrolled in the Harvard
Leadership Edge Program
since our first offering in 2021.

Becoming a people leader is an important milestone fora colleague’s career and experience at American Express.
The mandatory New People Leader Program (NPLP) is one
way we back our colleagues by preparing them for new roles
and investing in their growth. Since 2018, NPLP has supported
approximately 4,500 colleagues to prepare for leadership roles.

Project MarketPlaceAt the start of 2022, we launched Project MarketPlace, a new
project-sharing enterprise platform where all colleagues canapply for special, short-term projects (up to six months induration) and explore different career areas and interests.
The MarketPlace also gives project leaders access to diverse
perspectives and expand short-term resource capacity to
get tasks done quickly and effectively, all while honing theirleadership skills. Colleagues at every level and in every
business unit can apply for projects both in and outside theirown departments.

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LinkedIn Learning
We continue to offer our LinkedIn Learning program, which
gives colleagues around the world quick and easy access tothousands of courses and videos taught by industry experts
on topics like business, leadership, technology, creativity, andpersonal development. Colleagues can design their own
learning path, receive course recommendations based on theirstated goals—or they can make use of curated “playlists” ofon-demand learning.

41.5

Activatedcolleague
accounts

1.1+

Over 1.1 million
LinkedIn Learning
videos completed
totaling over 63,000
hours in 2022

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Feedback @ Amex—Career Development andPerformance Conversations
In advance of our annual Mid-Year and Year-End Performanceand Development Conversations, we hosted enterprise-wide
events to help both colleagues and leaders prepare to haveeffective feedback conversations.

Recognizing colleagues through Reward Blue
Together our colleagues perform meaningful and rewarding
work to be celebrated in big and small ways. Reward Blue, ourglobal appreciation tool, allows colleagues to recognize greatwork. Colleagues can send eCards around the world to thankcolleagues and celebrate milestones. Blue Awards allow
colleagues to nominate others for going above and beyond, andprovide monetary recognition ranging from $25 to $1,000.

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Governanceand Operating
Responsibly

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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GOVERNANCE AND OPERATING RESPONSIBLY
American Express has prospered for more than 170
years by remaining true to our core guiding values
that emphasize doing what’s right and operatingwith integrity, trust, and respect. We maintain
policies, procedures, and leadership oversight that
we believe leads to sound governance and ethicalbusiness practices, robust risk management, andcompliance with regulatory requirements.

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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OUR CORPORATE GOVERNANCE FRAMEWORKOur Corporate Governance Principles set the course forour approach to business. Our Board, along with management,
regularly reviews our Corporate Governance Principles andpractices to ensure that they are appropriate and reflect
our high standards and Blue Box Values. In reviewing
our Corporate Governance Principles and making
recommendations, the Nominating, Governance and Public
Responsibility Committee considers the views of shareholders
expressed to us in engagement meetings, as well as publicly
available discourse on governance.
These principles, along with our Code of Conduct forcolleagues, Code of Business Conduct for Members of theBoard of Directors, and the charters of our Board’s fourstanding committees (Audit and Compliance; Compensation
and Benefits; Nominating, Governance and Public
Responsibility; and Risk) make up our governance framework.
Key governance policies and processes also include ourcomprehensive Enterprise Risk Management (ERM) program,
our Whistleblower Claims Policy, our commitment totransparent financial reporting, and our strong internal checks
and balances. Comprehensive management policies, manyof which are approved at the Board committee level, guideour operations.

Board composition and diversity
Our Board consists of a diverse group of leaders with
substantial experience in their respective fields. Our Board
believes that the combination of various skills, qualifications,and experiences of our directors contributes to an effective
and well-functioning Board and that, individually and as awhole, our directors possess the necessary qualifications toprovide effective oversight and insightful strategic guidance.
The Nominating, Governance and Public Responsibility
Committee assesses potential director candidates based on
their history of achievement, the breadth of their businessexperiences, whether they bring specific skills or expertisein areas that the committee has identified as desired, andwhether they possess personal attributes and experiencesthat will contribute to the sound functioning of our Board.
Diversity is also a key consideration in our nomination andsuccession planning processes. Our Corporate GovernancePrinciples provide that the Board should be diverse, engaged,
and independent. When reviewing potential director nominees,
the Nominating, Governance and Public Responsibility
Committee considers the holistic diversity of the Board,
including gender, race, ethnicity, age, sexual orientation,and nationality, and does not discriminate on any basis.
For more information on Board Diversity, see the Board Diversity
section in this report.

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INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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Our Board’s Nominating, Governance andPublic Responsibility Committee reviews our
ESG strategy and Corporate Sustainability
program, monitors progress on our goals,
and provides guidance on our efforts. The
Compensation and Benefits Committee of theBoard also oversees performance goals andcertifies performance outcomes on key talent
metrics. The Risk Committee of the Board
provides oversight of our ERM framework.
Our Executive Committee also reviews andevaluates ESG performance and long-termgoals with support from our ESG Steering
Committee. Led by senior executives fromacross the company, the ESG Steering
Committee developed the goals for our ESG
strategy, drawing on the expertise of crossfunctional ESG Working Groups. To continue
progress toward our net-zero emissions by
2035 goal, in alignment with the Science Based
Targets initiative (SBTi), we developed a NetZero Working Group in 2023. Comprised ofcolleagues nominated by members of the
Executive Committee, the Net-Zero Working
Group is responsible for the oversight andimplementation of our net-zero strategy acrossthe enterprise. Day to day, our Corporate

PROMOTE
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ESG GOVERNANCE FRAMEWORK
Sustainability team works with colleagues
throughout the company to shape our ESG
programs and investments, while also
monitoring progress on key issues.
We developed a Net-Zero
Working Group in 2023,
comprised of colleagues
across the enterprise tosupport our work towards
net-zero by 2035.

MISSION: BACK PEOPLE AND BUSINESSES TO THRIVE AND CREATE EQUITABLE,RESILIENT, AND SUSTAINABLE COMMUNITIES GLOBALLYESG PILLARS
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DIVERSITY,
EQUITY,AND INCLUSIONBOARD OVERSIGHTNOMINATING, GOVERNANCE
AND PUBLIC RESPONSIBILITYCOMMITTEE

Additionally, ESG risks, including climaterelated risks, are included in our ERM
framework and climate-related risks are
currently managed as part of our ERM process.
The Enterprise Risk Management Committee(ERMC), chaired by our Chief Risk Officer, isthe highest-level management committee tooversee all firm-wide risks and is responsible
for risk governance, risk oversight, and risk
appetite. Furthermore, we have established a
dedicated Climate Risk Management Working
Group with direct accountability to the ERMC.
For more information on our approach to managing
climate-related risks and opportunities, refer to the
Advance Climate Solutions section and TCFD Index
in this report.

ADVANCE
CLIMATESOLUTIONSRISKCOMMITTEECOMPENSATION AND
BENEFITS COMMITTEEMANAGEMENT AND IMPLEMENTATIONEXECUTIVE COMMITTEEESG STEERING COMMITTEEENTERPRISE RISKMANAGEMENTCOMMITTEECORPORATE SUSTAINABILITY ENTERPRISE ESG TEAM

CLIMATE RISKTEAM

ESG WORKING GROUPS

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DIVERSITY,
EQUITY, AND
INCLUSION

NET ZERO

BUSINESS UNITS ACROSS THE COMPANYESGDISCLOSURES

CLIMATE RISKMANAGEMENTINTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITYOUR EXECUTIVECOMPENSATIONPROGRAMOur executive compensation
program is designed to support
the longevity and stability of thecompany by driving long-termbusiness outcomes, promoting
strong governance practices,and encouraging responsiblerisk-taking.
Executive compensation continues to belinked to our ESG goals, including diversity
representation, talent retention, culture,and inclusion metrics in the Colleague
category of the company’s scorecard andkey ESG initiatives in the Strategic categoryof the company’s scorecard.

Learn more about our Corporate Governance
Framework and Executive Compensation in our2023 Proxy Statement.

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OUR BUSINESS ETHICS
Our Blue Box Values guide how we operate as acompany and bring our company vision—to
provide the world’s best customer experience
every day—to life with trust, integrity, andservice excellence. We reinforce these values
with our Code of Conduct (Code), which
establishes our expectations for ethical
workplace behavior. The Code provides
guidance on sensitive business practices, suchas gift-giving, expenses, appropriate technology
use, conducting business with foreign
governments, and protecting customer privacy.
The Code is an essential part of our daily global
operations. We publish the Code in ninelanguages and require all colleagues to take andcertify an annual training on its provisions.
Abiding by the Code is a condition of working at
American Express and violations can result intermination. We require Colleagues to receive
annual Global Regulatory Learning requirements
on important policies, laws, and regulations thatgovern our industry, guide our company, andprotect our colleagues, customers, and brand.

99%

The Audit and Compliance Committee of theBoard reviews and assesses the Code of
Conduct and Code of Business Conduct for
Directors. Additionally, the Committee reviews
and discusses reports from management
regarding significant reported ethics
violations under our Code of Conduct andother corporate governance policies. Led by
the Chief Compliance Officer, the Global
Compliance and Ethics team, within the
Global Risk and Compliance organization, hasoversight of our compliance program acrossthe company.
Mandatory trainings for all global colleagues
and applicable contractors include: Codeof Conduct, Anti-Bribery and Corruption,
Anti-Money Laundering, Sanctions, andPolitically Exposed Persons, Antitrust andCompetition Law, Information Security, OpenNetwork Confidentiality Operating Principles,
Phishing, Preventing Harassment andDiscrimination, Privacy, and Strengthening
our Culture of Inclusion.

99.9% of in-scope colleagues completed the Code of Conduct training
in 2022

The global Amex Ethics Hotline provides
colleagues, contractors, vendors, suppliers,and others an opportunity—without fear of
retaliation—to report concerns regarding
potential compliance or ethical matterson a confidential or anonymous (where
allowed by local laws) basis. Hosted by anindependent organization and staffedby representatives who speak more than
170 languages, the Amex Ethics Hotline isavailable online and by phone 24/7.
Our Whistleblower Claims Policy allows
colleagues, contractors, customers,
merchants, and others to report allegations
in good faith without fear of retaliation orrisk to their employment. The Colleague
Experience Group, Internal Audit Group,
and Global Security investigate and makerecommendations on claims, in consultation
with our General Counsel’s Organization,
as appropriate.

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RISK MANAGEMENTSERVING OUR CUSTOMERS RESPONSIBLY

We are committed to Board-level oversight ofrisk management, which is primarily overseenby three Board Committees: Risk; Audit andCompliance; and Compensation and Benefits.

Leading customer support and services

Responsible marketing

American Express is committed to our customers and our
special brand of service. We back our offerings with a service
network of colleagues, Customer Care Professionals, andTravel Counselors around the world. Our customer service
network is also powered by colleagues and partners thatwork in support areas, such as digital tools, learning,capabilities, fulfillment, and analytics.

We subject our marketing programs to multiple layers ofreview across business units that are designed to make ouroffers clear, simple, and easy to understand. We strive toconsider all reasonable interpretations from a customer’s orprospect’s point of view and understand how our offers will
work in practice, including the risks, controls, and monitoring
associated with end-to-end execution, including fulfillment
and servicing. We regularly review marketing offers and credit
decisions, investigate the root causes of customer
complaints, and continue to review and enhance theprocesses and controls related to our sales practices andbusiness conduct generally.

Our Board monitors our “tone at the top” and risk culture,and oversees emerging and strategic risks. Our CEO,executive officers, and other members of our management
team regularly report to the Board and its committees todiscuss short-, intermediate-, and long-term risks, including
credit risk, market risk, funding and liquidity risk, compliancerisk, operational risk (including, but not limited to, conductrisk), reputational risk, country risk, model risk, strategic andbusiness risk, and ESG risk (including, but not limited to,climate change risk).
We use our comprehensive ERM program to identify,
aggregate, monitor, measure, report, and manage risks.
The program also defines our risk appetite, governance,
culture, and capabilities. Our Chief Risk Officer heads theimplementation and execution of the ERM program.
For more information on Board and management risk oversight,
see our 2023 Proxy Statement and TCFD Index in this report.

Our commitment to customer service continues to earn us
recognition. In 2020, we started a program for customers to
directly share feedback to our service colleagues, whoreceive approximately 4,500 compliments every day.

RATED

1

#

• Rated #1 in J.D. Power
2022 US Credit Card
Satisfaction Study for the
12th time in the 16 years
since the survey began• Rated #1 in J.D. Power
2022 US Small
Business Credit Card
Satisfaction Study forsecond year in a row• 2022 Most Trusted
Financial Companies
List by Investor’sBusiness Daily

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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Fair lending and financing
American Express is committed to responsible lending. We
aim to accommodate our customers’ spending needs, whileproviding appropriate lending capacity, with a strong focus
on managing risk.
No single factor determines our credit decisions. For
consumer accounts, we look at credit payment history,
reported income, overall debt level compared to financial
resources, and credit bureau scores. For commercial clients,
we consider a company’s size, financial information, andavailable reports from commercial bureaus, as well as
information from consumer credit bureaus for our small
business accounts. Our underwriting processes help us
manage both our own credit exposure and our customers’potential risk.
We seek to be transparent and fair in our customer practices
throughout the credit lifecycle. When customer remediationis required, we follow an issue management process thatis designed to deliver corrective actions and appropriate
redress. We also conduct regular colleague training on
compliance with applicable laws and regulations throughout
the credit lifecycle, including marketing, underwriting, andcollections activities.

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In the United States, consumer financial protection training
includes but is not limited to the Equal Credit Opportunity
Act (ECOA) and Fair Lending, Fair Credit Reporting Act(FRCA), and Unfair, Deceptive, or Abusive Acts or Practices(UDAAP). In 2022, over 99% of in-scope American Express
colleagues completed these annual trainings.
For those customers in need, we also offer a variety offinancial relief options, including a temporarily lowered
annual percentage rate (APR) on our cards, waived fees,and other accommodations for customers enrolled in our
financial relief program. We may also refer Card Members
to nonprofit credit counseling services as needed.

Investing activities
We actively back and collaborate with new businesses throughour corporate venture group. Since 2011, American Express
Ventures has invested in and partnered with startups toaccelerate innovation for consumers and businesses.
To date, we have backed more than 90 startups, who areenhancing our own enterprise capabilities and shaping thefuture of commerce, payments, fraud prevention, data
analytics, and security. As of December 31, 2022, a majorityof the investment securities on the American Express
Consolidated Balance Sheets represented securities backed by
the federal government, primarily short-dated US Treasuries.

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OPERATING A RESPONSIBLE SUPPLY CHAIN GLOBALLY
Responsible sourcing
We seek to provide the world’s best customer experience,
which includes relying on services provided by thousands ofsuppliers worldwide. We manage these vendors through our
Global Supply Management team, with a focus on meeting
regulatory requirements, managing risk across our global
relationships, and enhancing product and service offerings.
In selecting and managing suppliers, we use appropriate
due diligence and contracting requirements depending on
the relationship.
Whenever possible, our Global Supply Management teamseeks to work with suppliers from its Approved Supplier List,
which consists of businesses that have successfullycompleted our risk assessment process. This process covers
screening suppliers that trigger key risks, including humanrights, anti-corruption, data protection, and privacy
protection.

Across our global supply chain, we assess the resiliency of key
third-party service providers and require vendors that provide
business critical services to maintain Business Continuity
Plans. Colleagues who manage these vendors ensure thatboth Business Continuity Plans and potential Exit Plans are inplace should their need arise. This includes a list of alternative
suppliers, as well as a strategy to bring the products andservices in-house, if necessary.
As part of our DE&I Action Plan, we have a goal to double ourannual spend with underrepresented-owned suppliers in the
US from a 2019 baseline to $750 million by the end of 2024,
including increasing spend with Black-owned suppliers to atleast $100 million annually.
Learn more in the Supplier Diversity section.

Human rights
American Express respects and promotes human rights and iscommitted to leadership in responsible workplace practices
across our company and in all aspects of our business. We
strive to conduct our business in an approach consistent with
the United Nations Guiding Principles on Business and Human
Rights. Our Code of Conduct embodies our commitment tofair and equal treatment of all persons and to conducting
business in an ethical manner.
We guard against incidents of modern slavery and humantrafficking within our business and supply chain by working
with suppliers who share our values. We require all third parties
to conduct business in accordance with all applicable laws,
rules, and regulations. We also set clear expectations in our
Supplier Code of Conduct, which we expect all parties to follow.
For more information, see our Human Rights Statement, UK Modern
Slavery Act Transparency Statement, and Australia Modern Slavery
Statement.

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POLICY ENGAGEMENT
American Express believes that active engagement in the
public policy arena is an important part of responsible
corporate citizenship and is vital to the democratic process.
American Express monitors issues and public policy debatesand engages with government officials at various levels aroundthe world in order to provide our perspective. We also workwith trade and industry associations in the US in support ofour public policy initiatives.
In addition to our advocacy efforts, we participate in
the political process through the American Express
Company Political Action Committee (AXP PAC) and throughcorporate political contributions in permissible jurisdictions.
American Express does not spend corporate funds directly onelectioneering communications, and it publicly discloses any
contributions to organizations that are used in connection
with a political campaign. AXP PAC does not contribute topresidential campaigns.
The company maintains comprehensive compliance
procedures designed to ensure that its activities are
conducted in accordance with its policy engagement andpolitical activity policy, the company’s Code of Conduct,
and all relevant laws governing political contributions andlobbying activities. Procedures include employees’ annual
review and acknowledgment of their Code of Conduct
responsibilities, as well as periodic reviews conducted byan outside law firm and internal audit.
We are transparent about our policy engagement withgovernments, including through Semi-Annual PoliticalContributions Reports and Lobbying Disclosure Act Filingsin the US. For more information on our Policy Engagement
and Political Activity, please visit our website.

90%

In recognition of our transparency,
American Express continued to earn
“Trendsetter” status on the 2022 CPA
Zicklin Index of Corporate Political
Disclosure and Accountability with ascore of 90%.

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OUR COMMITMENT TO ESG

1. C urrent State Assessment: We conductedinternal business research and externalbenchmarking to identify the most relevant
ESG issues to our key stakeholders, industry,
and company. As part of this process, we
utilized an ESG big data software platform
to review and integrate thousands of peer
documents, regulations, and other relevant
data points. Additionally, we evaluatedleading ESG frameworks, including the
Sustainable Accounting Standards Board(SASB), Global Reporting Initiative (GRI),
the Sustainable Development Goals (SDGs),
the Task Force on Climate-related Financial
Disclosures (TCFD) and more to inform ourassessment. Outputs from the analysis werethen considered to create a preliminary listof ESG issues.

3. ESG Issues Prioritization: Using outputs from our business analysis, benchmarking, andstakeholder engagement activities, we ranked our 20 priority ESG issues based on theirrelative importance to our business and their relative importance to our stakeholders. The
following matrix highlights these results:

PRIORITY ESG ISSUES MATRIXCATEGORIESINCREASING
IMPORTANCE

American Express prioritizes our ESG issues
based on their relative importance to ourbusiness and to our stakeholders. We updated
our priority ESG issues in 2020 by completinga comprehensive ESG materiality analysis. We
collaborated with the think tank and advisory
firm SustainAbility to guide our approach and
we used the following methodology:

2. Stakeholder Input: We utilized findings
from our assessment to help guide ourapproach to collecting stakeholder input.
Our third-party consultants interviewed
more than 30 internal and external
stakeholders, including the Chairman andCEO, all Executive Committee members,
shareholders, customers, strategic
partners, suppliers, nonprofit organizations,and others. We also conducted an ESG
colleague survey across 16 business units
worldwide. Further, we compiled andsynthesized other ESG-related feedback
received from stakeholders as part ofour ongoing engagement process. Finally,
we conducted an analysis of evolving
expectations resulting from the global
pandemic and its related impacts on ourpriority ESG issues.

Environment

Governance/
LeadershipSocial/Human CapitalBusiness Model/
Innovation

Climate change,
Data privacy
energy & GHG emissions & security
Financialresiliency

Importance to stakeholders

Our Priority ESG Issues

Colleague
health & safety

Responsible
Board
digitalization
composition
Responsible
investment& financing

Executivecompensation

Business
ethics

Anticorruption& bribery
Responsible
procurement

Public policy
practices

Waste reduction& recycling

Responsible
travel &consumption

Inclusion& diversity

Community
resiliency

CustomerSocial &satisfaction
environmental
innovation

Colleague
attraction& retention

Responsible tax
practices
Importance to business

INCREASING
IMPORTANCEINTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

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Engaging Our Stakeholders in ESG Efforts
Our ESG commitment starts with our stakeholders: shareholders, colleagues, customers, community organizations, and more. To better understand the ESG issues that matter most to them andadvance our efforts to operate responsibly, we regularly engage with our stakeholders through a variety of channels. Their feedback informed our priority issues assessment and ESG strategy
framework. Our engagement with the following eight stakeholder groups helps us to understand and meet their expectations and advance our efforts to operate responsibly.
Stakeholder GroupHow We Engage

Shareholders

We provide the investment community with information on our strategy, objectives, and performance on the American Express Investor Relations website. Our Lead Independent Director who also
serves as our Compensation and Benefits Committee Chair is available for engagement and represents the Board in communications with shareholders, including participating in joint corporate
governance and investor relations meetings. We deliver extensive feedback to our Board regarding shareholder meetings.
Following our 2022 Annual Meeting of Shareholders, we engaged with shareholders representing approximately 33% of our outstanding shares on corporate governance, ESG, DE&I, executive
compensation and related matters. During these meetings, depending on the investor’s priorities, we discussed and sought direct feedback on a broad number of issues including company strategy
and performance, board composition, ESG, DE&I, climate commitments and executive compensation programs. For more information on our ongoing engagement process and outcomes, refer toour 2023 Proxy Statement and Shareholder Engagement website.

Colleagues

We keep colleagues updated on company news, priorities, performance, and business strategies through a variety of channels. Our leaders collect ongoing colleague feedback through our annual
Colleague Experience Survey, open Q&A sessions, Colleague Networks, and our Amex Ethics Hotline.

Customers: Card Members,
Businesses, and Merchants

We have direct relationships with millions of Card Members, businesses, and merchants around the world, whom we engage through customer service, direct-to-customer channels, andsocial media.

Government and Regulators

We are subject to extensive government regulation and supervision in jurisdictions around the world. We advocate for public policy issues that are significant to our business and our ability to serve
our customers by providing education and context to government decision-makers.
For more information, see the Policy Engagement section of this report.

Suppliers

We regularly meet with our key suppliers to ensure they understand current business strategies and measures of success to meet regulatory and company requirements.

Community andNonprofit Organizations

We mobilize thousands of colleagues as volunteers through our Serve2Gether and Green2Gether program and offer incentives to support eligible charities through Give2Gether, our gift-matching
program. We also directly support and collaborate with nonprofits, including through the American Express Foundation, and help develop the nonprofit and social purpose leaders of tomorrowthrough the longstanding American Express Leadership Academy.

ESG Research andRating Agencies

We respond to CDP (formerly the Carbon Disclosure Project) and other ESG surveys and questionnaires from rating agencies and indexes including EcoVadis, FTSE4Good, Sustainalytics, MSCI,
and others.

Partners and Peers

We engage with our partners and peers through industry groups, roundtables, conferences, and other forums to address local and global ESG issues that affect us and our industry.

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Organizations We Work With on ESG Matters
We create long-term relationships with organizations that share our interests and collaborate to achieve common goals. Key advocacy organizations we work with and memberships areshown below.*
Corporate Sustainability and Community Impact

Public Policy and Advocacy

Social and Human Capital• Better Business Bureau of Metropolitan New York• American Bankers Association• AfroTech• Business for Social Responsibility• Australian Finance and Industry Association• Association of Latino Professionals for America• CDP Supply Chain Member• Bank Policy Institute• Black Enterprise• Chief Executives for Corporate Purpose• Canadian Bankers Association• Counsel of Urban Professionals• Emerging Practitioners in Philanthropy• Consumer Bankers Association• Disability: IN• Financial Health Network• Data and Trust Alliance• Executive Leadership Council• Hispanic Association on Corporate Responsibility• European Payment Institutions Federation• Philanthropy New York• Indian Banks Association• NationSwell• Japan Credit Card Association• Regional Plan Association• Partnership for New York City, Inc.

• Sustainability Leaders• Securities Industry and Financial Markets Association• US Travel Association Sustainable Travel Coalition• The Business Council of New York State• The Conference Board• U.S. Chamber of Commerce Foundation• Spanish Association of Payment Institutions• The Business Roundtable• Girls Who Code• Hispanic Scholarship Fund
• Jopwell• Management Leadership for Tomorrow• Multiverse• National Association of Black Accountants, Inc.
• National Black MBA Association• National Society of Black Engineers• US Chamber of Commerce• Power To Fly• UK Finance• Reaching Out MBA• Western Bankers Association• Society of Hispanic Professional Engineers• Society of Women Engineers• Thurgood Marshall College Fund
• United Negro College Fund

* This list is illustrative, and not intended to be comprehensive of our advocacy partners and memberships in 2022.

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COLLEAGUESALIGNING WITH THE UNITED NATIONSSUSTAINABLE DEVELOPMENT GOALS (SDGS)
We believe our actions can contribute positively to achieving the UN’s 2030 Agenda for Sustainable Development. We map our corporate
and ESG initiatives and programs to the 17 United Nations Sustainable Development Goals (SDGs) and believe our work contributes mostto the following 11 SDGs:

3

GOOD HEALTH AND WELL-BEING4QUALITY EDUCATION

5GENDER EQUALITY

7

AFFORDABLE AND CLEAN ENERGY

8DECENT WORK AND

9

INDUSTRY INNOVATION ANDECONOMIC GROWTHINFRASTRUCTURE

10 REDUCED INEQUALITIES11SUSTAINABLE CITIESAND COMMUNITIESRESPONSIBLE CONSUMPTION
12	
AND PRODUCTION

CLIMATE ACTION
13	

17

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ADVANCE CLIMATE SOLUTIONS
Environmental Performance Data Summary
The summary table below provides certain metrics related to our environmental performance for the years ended December 31, 2022, 2021 and 2020. Environmental data is subject to significant
inherent measurement uncertainty and is based on estimates and management assumptions; actual results could differ. Reporting on environmental data, including the quantification of greenhousegas emissions, continues to evolve as data quantity and quality, estimation methodologies, industry standards, and measurement tools improve. As a result, we have updated certain previously
disclosed metrics in the summary table and may make further updates in the future, as we continue to refine our methodologies to collect and report this data.
Unit1

2022

2021

2020

Natural Gas

MWh

8,058

6,258

8,941

Fuel Oil

MWh

1,375

Mobile Fuel

Energy2Global Direct Energy
542

853

MWh

3

78,00747,70560,774Purchased Electricity

MWh229,106

202,170224,051

Purchased Steam and Chilled Water

MWh13,131

13,233

17,579

MWh

533

561

593

%

100%

100%

100%

Total Global Direct Energy Consumption

MWh87,44054,50470,568

Total Global Indirect Energy Consumption

MWh242,237

215,394

241,630

Total Global Energy Consumption (Direct + Indirect)

MWh329,677

269,898

312,198

Global Indirect Energy

Renewable Energy

2

Onsite Generated Renewable Electricity4
Total Global Electricity from Renewable Sources
Total Energy2

1. MWh: megawatt hours; MTCO2e: Metric tons of carbon dioxide equivalent; kgCO2e: kilograms of carbon dioxide equivalent; ft2: square feet; FTE: Full-time Equivalent; $M USD: millions of dollars.
2. Energy usage is based on a combination of metered energy consumption billing data and estimated energy consumption data based on energy intensity per square footage standards outlined in the GHG Protocol where metered data is not currently available.
3. For 2022, additional owned vehicles were identified that had not previously been accounted for as part of our annual data collection. The increase in vehicle fleet data is largely driving the increase in reported mobile fuel consumption and Scope 1 direct GHG emissions for 2022 compared to 2021.
4. Onsite generated renewable electricity includes onsite solar renewable electricity generation at our North Carolina Data Center (519 MWh, 546 MWh, and 577 MWh) and Brighton UK office (14 MWh, 15 MWh, and 16 MWh) in 2022, 2021, and 2020, respectively.

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Environmental Performance Data Summary (cont'd)
Unit1

2022

2021

2020

Scope 1–Direct

MTCO2e29,422

17,75422,029

Scope 2–Indirect (Location-Based)

MTCO2e86,73480,27593,997

Scope 2–Indirect (Market-Based)6

MTCO2e

3,849

3,976

6,438

Category 5: Waste Generated in Operations7

MTCO2e

569

280

420

Category 6: Business Travel

MTCO2e11,456570

5,513

Total Scope 1 & 2 (Location-Based) Emissions

MTCO2e116,156

98,029116,026

Total Scope 1 & 2 (Market-Based) Emissions

MTCO2e33,271

21,73028,467

Total Scope 3 (Category 5 Waste and 6 Business Travel) Emissions

MTCO2e12,025850

5,933

Total Scope 1, 2 (Market-Based), 3 (Category 5 Waste and 6 Business Travel) Emissions

MTCO2e45,296

22,58034,400

Verified Carbon Offsets9

MTCO2e45,296

22,58034,400Total Scope 1, 2 (Market-Based), 3 (Category 5 Waste and 6 Business Travel) with Verified
Carbon Offsets

MTCO2e000Total Scope 1, 2 (Market -Based), 3 (Category 5 Waste and 6 Business Travel) Emissions
Intensity

kgCO2e/ft2

5.3

2.7

4.0

Total Scope 1, 2 (Market-Based), 3 (Category 5 Waste and 6 Business Travel) Emissions
Intensity Per Colleague

MTCO2e/FTE

0.6

0.4

0.5

Total Scope 1, 2 (Market -Based), 3 (Category 5 Waste and 6 Business Travel) Emissions
Intensity Per Annual Revenue

MTCO2e/$M USD

0.9

0.5

1.0

Greenhouse Gas Emissions5

Scope 38

Total Greenhouse Gas Emissions55. Emissions metrics for 2021 Scope 1 and for 2020 Scope 1 and Scope 2 (location-based and market-based) and associated metrics in this table that include these emissions metrics, have been revised to reflect refinements to our methodologies for determining greenhouse gas emissions.
6. 229,106 MWh, 202,170 MWh, and 224,051 MWh of renewable energy attributes were applied to the 2022, 2021, 2020 Scope 2 market-based emissions, respectively.
7. Scope 3 Category 5 Waste Generated in Operations represents emissions associated with landfilled, recycled, and other disposed waste, which includes incineration across our managed facilities. The waste data is reported only for managed facilities where measured data is available.
This represents approximately 72% (4,968,933 ft2), approximately 67% (4,791,834 ft2), and approximately 62% (4,679,278 ft2) of the globally managed facility footprint in 2022, 2021 and 2020, respectively.
8. Scope 3 Category 6 Business Travel in 2021 and 2020 represents emissions associated with employee business travel including third-party air, rail, and rental cars; it does not include other forms of transportation, such as taxis, livery and/or rideshare services or subways, or other
employee business travel impacts, such as hotel stays. In 2022, business travel emissions followed the same methodology as 2021 and 2020, but expanded to include emissions associated with hotel stays. Business travel in 2022 increased as colleagues returned to travel but theseemissions were still lower than pre-pandemic levels in 2019, which were 51,679 MTCO2e.
9. To maintain CarbonNeutral® certified operations, carbon offsets purchased in 2022 have been retroactively applied to 2021 and 2020 where applicable to reflect the updated emissions calculations associated with refinements in our greenhouse gas emissions methodologies.

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Environmental Performance Data Summary (cont'd)
Unit1

2022

2021

2020

m3

217,497

166,171

263,686

Waste Generated

Metric Tons

1,760

806

1,013

Waste Landfilled

Metric Tons

807

374

493

Waste Recycled

Metric Tons

952

433

526

%

54%

54%

52%

Number778,254727,294565,768

Green Building Certified Square Footage

ft2

5,019,525

4,693,820

4,779,837

Green Building Certified %

%

59%

56%

55%

%

95.1%

96.3%

95.0%

FSC Certified

%

86.6%

88.2%

86.4%

SFI Certified

%

7.9%

7.6%

8.2%

PEFC Certified

%

0.6%

0.5%

0.3%

A-

A-

A

FTE

77,30064,00063,700

Water10
Water Consumption
Waste

7

Waste Diversion Rate
Cards Recycled via US Card Take Back Program

11

Green Building Certifications12

Paper Use
Direct marketing, customer communications, and office paper from certified responsibly
managed forests

Environmental Ratings
CDP Climate Change Questionnaire Score
Company Metrics
Employee Headcount
Annual Revenue$M USD$52,862$42,380$36,08713ft

28,667,115

8,459,570

9,180,484

Total Year-End Building Square Footageft8,572,916

8,424,281

8,641,116

Total Average Building Square Footage2

10. Water consumption, waste generation, and recycling data are reported only for managed facilities where measured data is available. Water usage for 2022 represents approximately 81% (5,547,970 ft2) and waste and recycling data for 2022 represents approximately 72% (4,968,933 ft2) of the
global managed facility footprint in 2022.
11. US Card Members can return expired or non-working cards for recycling. This encompasses cards sent back to us by other means, such as non-delivered mail.
12. Green building certified square footage represents the year-end square footage certified out of total year-end building square footage. This includes leased or owned facilities actively occupied by American Express (excluding parking lot square footage) that have achieved certification under aglobal or locally recognized third-party rating system criteria including LEED, BREEAM, NABERSE, GreenMark, HQE and Effinergie+.
13. Total average and year-end building square footage includes all leased and owned facilities actively occupied by American Express (excluding parking lot square footage), which covers managed facilities, field sites, and data centers. Managed facilities are individual properties operationallymanaged by our global real estate team and housing critical business functions. Field sites are individual properties that are not operationally managed by our global real estate team but directly by our business units. These are typically smaller sites, less than 30,000 square feet (including airport
lounges, foreign exchange kiosks, and sales offices) that are owned or leased by American Express.

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PROMOTE DIVERSITY, EQUITY, AND INCLUSION
2022 US Workforce Diversity14
Job Categories

GenderAmerican Indian or
Alaska Native

AsianBlack or African
AmericanExecutive/Senior
Level Officials andManagers

Male

0.0%

11.3%

Female0.0%

6.5%

Subtotal

0.0%

Male

First/Mid Level
Officials andManagers
Professionals

All Others

15

Total

Hispanic or
LatinoNative Hawaiian orPacific Islander

4.8%

6.5%

0.0%

3.2%

0.8%

0.0%

17.7%

8.1%

7.3%

0.0%

0.1%

11.9%

3.6%

4.7%

Female

0.1%

10.6%

5.2%

Subtotal

0.2%

22.5%

Male

0.1%

FemaleTwo orMore Races

White

Total Count

0.8%

35.5%

58.9%

0.0%

30.6%

41.1%

0.8%

66.1%

100.0%

0.1%

1.0%

23.9%

45.3%

6.1%

0.1%

1.3%

31.3%

54.7%

8.8%

10.8%

0.2%

2.3%

55.2%

100.0%

18.0%

4.4%

7.6%

0.1%

1.5%

23.7%

55.4%

0.2%

11.1%

5.0%

6.2%

0.1%

1.4%

20.6%

44.6%

Subtotal

0.3%

29.1%

9.5%

13.8%

0.2%

2.9%

44.3%

100.0%

Male

0.1%

0.9%

6.9%

6.4%

0.1%

1.0%

9.3%

24.7%

Female

0.3%

2.3%

31.2%

12.4%

0.4%

3.8%

24.9%

75.3%

Subtotal

0.4%

3.2%

38.1%

18.8%

0.5%

4.8%

34.3%

100.0%

Male

0.1%

10.5%

4.9%

6.1%

0.1%

1.2%

19.4%

42.3%

Female

0.2%

8.2%

13.1%

8.0%

0.2%

2.1%

25.9%

57.7%

Total

0.3%

18.7%

17.9%

14.2%

0.3%

3.3%

45.3%

100.0%

2022 Global Gender Diversity14
Job Categories

US

Non-US

Global Summary

FemaleMale

FemaleMale

Undeclared

FemaleMale

Undeclared16

Executive/Senior Level Officials and Managers

41.1%

58.9%

37.9%

62.1%

0.0%

40.5%

59.5%

0.0%

First/Mid Level Officials and Managers

54.7%

45.3%

48.1%

51.8%

0.0%

51.6%

48.4%

0.0%

Professionals

44.6%

55.4%

47.8%

52.2%

0.1%

46.5%

53.5%

0.0%

All Others15

75.3%

24.7%

54.4%

45.6%

0.0%

58.8%

41.1%

0.0%

Total

57.7%

42.3%

51.7%

48.3%

0.0%

53.7%

46.2%

0.0%

16

14. As of year-end 2022; based on the US EEO-1 job categories. Some percentages do not sum due to rounding. 			
15. All Others includes Technicians, Sales Workers, Administrative Support, Craft Workers, Operatives, Laborers and Helpers, and Service Workers categories. Job nomenclature at American Express does not align completely with the EEO-1 form.
16. Undeclared is a legally offered option in certain non-US jurisdictions; in the US, gender is required for EEO-1 reporting.

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2022 EEO-1 Data17
The summary table below covers our US workforce Employer Information Report (EEO-1) data as of December 31, 2022.
Job Categories
Executive/Senior Level
Officials and Managers
First/Mid Level Officials andManagers
Professionals

Technicians

Sales Workers

Administrative Support

Craft Workers

Operatives

Laborers and Helpers

Service Workers

Total

GenderAmerican Indian or
Alaska Native

AsianBlack or African
AmericanHispanic or
LatinoNative Hawaiian orPacific Islander

Two orMore Races

White

Total Count

Male
FemaleSubtotal
Male
FemaleSubtotal
Male
FemaleSubtotal
Male
FemaleSubtotal
Male
FemaleSubtotal
Male
FemaleSubtotal
Male
FemaleSubtotal
Male
FemaleSubtotal
Male
FemaleSubtotal
Male
FemaleSubtotal
Male
Female
Total

0
0
0
10
12
22
9
17
26
1
0
1
1
0
1
5
22
27
0
0
0
—
—
—
—
—
—
—
—
—
26
51
77

14
8
22
1,142
1,020
2,162
1,529
946
2,475
4
3
7
10
15
25
55
165
220
0
0
0
—
—
—
—
—
—
—
—
—
2,754
2,157
4,911

6
4
10
345
496
841
376
428
804
23
7
30
32
57
89
499
2,430
2,929
0
0
0
—
—
—
—
—
—
—
—
—
1,281
3,422
4,703

8
1
9
450
583
1,033
646
527
1,173
50
15
65
46
57
103
412
921
1,333
0
0
0
—
—
—
—
—
—
—
—
—
1,612
2,104
3,716

0
0
0
10
11
21
5
8
13
0
0
0
0
0
0
5
33
38
0
0
0
—
—
—
—
—
—
—
—
—
20
52
72

1
0
1
100
124
224
129
118
247
3
0
3
8
20
28
71
284
355
0
0
0
—
—
—
—
—
—
—
—
—
312
546
858

44
38
82
2,290
3,007
5,297
2,013
1,750
3,763
32
10
42
218
267
485
490
1,715
2,205
6
2
8
—
—
—
—
—
—
—
—
—
5,093
6,789
11,882

73
51
124
4,347
5,253
9,600
4,707
3,794
8,501
113
35
148
315
416
731
1,537
5,570
7,107
6
2
8
—
—
—
—
—
—
—
—
—
11,09815,121
26,21917. Based on data for the 2022 EEO-1 filed with the US Equal Employment Opportunity Commission. Where there are no employees in an EEO-1 job category during the reporting period, a dash (—) is indicate

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GOVERNANCE AND OPERATING RESPONSIBLY
Key Policies
Anti-Bribery
and Corruption

We have a zero-tolerance policy for bribery. All colleagues must complete anti-corruption and bribery training tied to their annual compensation that includes information on applicable laws and regulations for their location.

Anti-Money
Laundering

Our Global Anti-Money Laundering Policy details our approach to preventing money laundering and related financial crimes. Colleagues receive regular training to review our policies and requirements, relevant laws, and theirrole in recognizing and reporting unusual behavior.

Code of Conduct

Our Code of Conduct is our manual for informing colleagues of the workplace behaviors we expect. It covers ethical business practices ranging from anti-corruption to technology use, conflicts of interest, conducting businesswith foreign governments, and protecting customer privacy (see page 78).

Equal Employment
Opportunity (EEO)

We are committed to equal employment opportunities for all individuals. We make hiring decisions based on job-related qualifications and ability to perform the job without regard to race, color, religion, sex, national origin, age,sexual orientation, gender identity, disability, genetic information, citizenship, marital status, or any other basis prohibited by law. Our policies prohibit harassment of colleagues and contractors by co-workers, supervisors, oroutsiders and such behavior may trigger disciplinary action, including loss of employment or contract. We also enforce a Global Sexual Harassment Policy Statement.

Human Rights

American Express respects and promotes human rights and is committed to responsible workplace practices. We strive to conduct our business in an approach consistent with the United Nations Guiding Principles on Businessand Human Rights. Our Code of Conduct expresses our commitment to fair and equal treatment of all persons and to conduct business in an ethical manner.
We guard against incidents of modern slavery and human trafficking within our business and supply chain by working with suppliers who share our values. We expect third parties to conduct business in accordance with applicablelaws, rules, and regulations. We also set clear expectations in our Supplier Code of Conduct, which we expect parties to follow.
For more information, see page 94 in this report, our Human Rights Statement, UK Modern Slavery Act Transparency Statement, and Australia Modern Slavery Statement.

Public Policy
Engagement
and PoliticalContributions

We are transparent about our policy engagement with governments, including through Lobbying Disclosure Act filings. The Company maintains comprehensive compliance procedures to ensure that its activities are conducted inaccordance with its related policy, the Company’s Code of Conduct and all relevant laws governing political contributions and lobbying activities. Procedures include employees’ annual review and acknowledgment of their Code of
Conduct responsibilities as well as periodic reviews conducted by an outside law firm and internal audit.

Responsible
MarketingWe subject our marketing programs to multiple layers of review across business units that are designed to make our offers are clear, simple, and easy to understand (see page 79). The Marketing Policy for American Express
National Bank outlines the commitment and requirement to fully comply with all applicable laws and/or regulations pertaining to the marketing of Bank products. We developed the Global Inclusive Marketing Framework toprovide marketers with resources to help support our inclusive marketing initiatives. In particular, the Framework focuses on individuals seeing themselves reflected in the American Express brand and knowing that we understand,respect, and back them (see page 60).

Taxation

We carefully consider our taxation positions so that they are consistent with our overall tax strategy, broader corporate governance requirements, applicable laws, and corporate values. We engage with tax authorities globally tosupport compliance with our tax obligations. We are a current taxpayer both within and outside of the United States. For more information on taxation, see our 2022 Annual Report.

Whistleblower
Claims Policy

Our Whistleblower Claims Policy allows colleagues, contractors, customers, merchants, and others to report allegations in good faith without fear of retaliation or risk to their employment. Claims are investigated andrecommendations are made by the Colleague Experience Group, Internal Audit Group, and Global Security, in consultation with our General Counsel’s Organization, as appropriate.

We provide our perspective to officials at various government levels worldwide and collaborate with trade and industry associations. For more information, including lobbying requirements and our semiannual reporting of US
political contributions, see our Policy Engagement and Political Activity Website which includes our Political Contributions Reports.

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2022–2023 TCFD INDEX
American Express Task Force on Climate-related Financial Disclosures (TCFD) Index
The Financial Stability Board (FSB), comprised of members of the G20, established the TCFD to develop recommendations for more effective climate-related disclosures. As part of ourcommitment to climate action, American Express reports annually in line with the TCFD recommendations. The table below summarizes our approach to climate-related governance, strategy, risk
management, and metrics and targets. It also discloses the outcomes from the qualitative climate risk scenario analyses we performed in 2020 and 2021 to assess physical and transition risks toour business related to climate change. In 2021, we became a formal TCFD Supporter, joining 4,000 organizations taking action to build a more resilient financial system through transparent
climate-related disclosure.
For more information, refer to the Advance Climate Solutions, Governance and Operating Responsibly, and Environmental Performance Summary sections of the 2022-2023 ESG Report,
2022 Annual Report, 2023 Proxy Statement, and 2022 CDP Climate Change Response.

TCFD Recommendation

Disclosure

1. Governance
1a. D
 escribe the board’s
oversight of climaterelated risks andopportunities

Risk management is primarily overseen by the American Express Board of Directors (Board) through three Board Committees: The Risk Committee, the Audit and Compliance Committee, andthe Compensation and Benefits Committee. The committees meet regularly with the company’s Chief Risk Officer, the Chief Compliance Officer, the Chief Audit Executive, the Chief Operational
Risk Officer, and other senior management with regard to our risk management processes, controls, talent, and capabilities. The Board monitors the “tone at the top,” our risk culture, and oversees
emerging and strategic risks.
The Risk Committee of the Board provides oversight of the company’s Enterprise Risk Management (ERM) framework, processes, methodologies, and other risk management policies andprocedures established by management to identify, assess, measure, and manage key risks facing the company. It also approves our ERM policy, which covers risk governance, risk oversight, andrisk appetite. Our Chief Risk Officer heads the implementation and execution of the ERM program. ESG risks, including climate-related risks, are included in our ERM framework and climate-relatedrisks are managed as part of our ERM process.
Members of our management team regularly report to the Board and its committees to discuss short-term, intermediate-term, and long-term risks, including credit risk, market risk, funding andliquidity risk, compliance risk, operational risk (including, but not limited to, conduct risk), reputational risk, country risk, model risk, strategic and business risk, and ESG risk (including, but notlimited to, climate change risk). Our Independent Risk Management organization presents to the Risk Committee on climate-related issues at least once annually.
In addition, the Board’s Nominating, Governance, and Public Responsibility Committee (NGPRC) reviews the company’s ESG strategy and Corporate Sustainability program, monitors progress on
ESG goals, and provides guidance on our efforts. The Chief Corporate Affairs Officer (CCAO), who sits on our Executive Committee, and the Head of Corporate Sustainability update the NGPRC on
ESG-related issues, progress, and performance at least twice annually.

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TCFD Recommendation

Disclosure

1b. Describe
management’s rolein assessing andmanaging climaterelated risks andopportunities

The company’s Executive Committee reviews and evaluates ESG performance and long-term goals. Our CCAO is on the Executive Committee and reports directly to the Chairman and Chief
Executive Officer (CEO). The CCAO oversees the Corporate Affairs and Communications (CA&C) Department and has direct responsibility for leading ESG and Corporate Sustainability initiatives
and is supported by the Corporate Sustainability Enterprise ESG Team. In 2022, the Executive Committee approved our near-term and long-term emissions reductions targets to submit to the
Science Based Targets initiative (SBTi) for validation as part of our commitment to net-zero emissions by 2035 in alignment with SBTi.18
The Enterprise Risk Management Committee (ERMC), chaired by our Chief Risk Officer, is the highest-level management committee to oversee all firm-wide risks and is responsible for risk
governance, risk oversight, and risk appetite, including the management of ESG and climate-related risks. We use our comprehensive ERM program to identify, aggregate, monitor, measure, report,
and manage risks. The program also defines our risk appetite, governance, culture, and capabilities. In 2022, we established a dedicated Climate Risk Management Working Group comprised ofsenior leaders with direct accountability to our ERMC to oversee climate risks. The objective of the working group is to enhance the company’s risk management framework to consider andintegrate climate risk in the areas of risk governance, risk assessment, data, reporting, and scenario analysis.
We also formed a Climate Risk Team within the ERM function, under the Global Risk and Compliance organization, in 2022. The Climate Risk Team has the responsibility to establish and manage aclimate risk management program that supports the identification, quantification and monitoring of climate risk and the integration of climate risk into our risk management framework and otherrisk frameworks and processes.
The ESG Steering Committee, chaired by our CCAO, guides our ESG strategy and related policies and programs. The cross-functional team includes senior executives from across the organization
including CA&C, Finance, Controllership, General Counsel’s Organization, Government Affairs, American Express National Bank (AENB), Global Real Estate and Workplace Experience, Investor
Relations, Global Risk and Compliance, and others that meet at least quarterly to discuss ESG topics, strategies, and initiatives to advance our ESG goals. The ESG Steering Committee is
supported by ESG Working Groups and focuses on our three ESG pillars, including Advance Climate Solutions, which develops strategies to achieve our climate goals. An additional working groupfocuses on ESG disclosures and in 2023, we formed a Net-Zero Working Group, comprised of colleagues across the enterprise, to support our work towards net-zero by 2035.
The Corporate Sustainability Enterprise ESG team within CA&C, led by the Head of Corporate Sustainability, is responsible for coordination of climate-related issues across the company. The teamworks closely with business units to monitor climate-related issues and opportunities, emissions reduction efforts, energy efficiency initiatives, low-carbon product innovations, colleague
engagement, and other initiatives in alignment with our ESG Strategy.
Executive compensation continues to be linked, in part, to our ESG goals, including progress on key ESG initiatives in the Strategic category of the Company’s Scorecard. Results for that category
in 2022 included submission of our near-term and long-term targets to SBTi in 2022 for validation as part of our commitment to net-zero by 2035 in alignment with SBTi .
For more information on Executive Compensation, see Our Executive Compensation section in the 2022-2023 ESG Report and the 2023 Proxy Statement.

18. American Express submitted near and long-term company-wide emissions reductions targets in line with the SBTi Corporate Manual, Version 2.0, December 2021 and SBTi Corporate Net Zero Standard, Version 1.0, October 2021, respectively.

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Disclosure

2. Strategy
2a. D escribe the climaterelated risks andopportunities theorganization has
identified over the
short-, medium-, andlong-term

American Express takes a strategic approach to managing the impacts of climate change, considering the risks and opportunities across the short-term (0–3 years), medium-term (3–6 years), andlong-term (6–10+ years). In 2020 and 2021, we conducted qualitative analyses of current and potential climate-related physical and transition risks and opportunities to our operations, supply chain, andbusiness activities.
Physical Risks: The qualitative climate-related physical risk assessment performed in 2020 evaluated potential acute and chronic risks and opportunities associated with the physical impacts of climatechange on key operations across several time horizons including under historic conditions (1990–2018) and medium-term (2035) and long-term (2060) projections and applied to future climate projects
from the Intergovernmental Panel on Climate Change’s (IPCC) Representative Concentration Pathway (RCP) 8.5 scenario. The potential physical risks include flooding due to sea level rise and extreme
precipitation, cyclonic storm threats, drought, and extreme temperatures across some of our critical sites. These threats could affect operations at our global headquarters, data centers, call centers,
offices, and third-party supplier card manufacturing sites.
Transition Risks: The qualitative climate-related transition risk assessment evaluated three scenarios from the International Energy Agency (IEA) to analyze the impact of transition risks on our company’s
potential future revenues and costs between 2025 and 2040. We assessed transition risks and opportunities associated with current and emerging regulations, technology advances to transition to a
low-carbon future, and public demand and reputational risks. We identified potential short-, medium-, and long-term risks including current regulations and carbon pricing; emerging regulations related toenhanced emissions reporting requirements; shifting consumer preferences; reputational risks; increased operating costs; impacts to travel patterns; and geographic or location-based risks.
We identified climate-related opportunities in the short, medium, and long term that may have financial or strategic impacts on our business. Opportunities include maintaining carbon neutrality,
continuing to invest in energy efficiency projects, onsite renewable electricity generation, renewable Energy Attribute Certificates (EACs), and carbon offsets. Across our value chain, climate-related
opportunities exist through innovation and investments in research and development for low-carbon products and services. To support this, we have a goal to pilot low-carbon innovations, including carbon
tracking and offset solutions for customers.

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TCFD Recommendation

Disclosure

2b. Describe the impact
of climate-relatedrisks and opportunities
on the organization’s
businesses, strategy,
and financial planning

Climate-related risks and opportunities inform our business, strategy, and financial planning across our direct operations, products and services, funding, and supply chain. The Advance Climate
Solutions pillar of our ESG Strategy includes goals to enhance the management of climate-related risks and opportunities across our business, commit to net-zero emissions by 2035 in alignment
with the Science Based Targets initiative, and pilot low-carbon product innovations.
Our strategy has been influenced by climate-related physical and transition risks over the short-, medium-, and long-term, including those associated with emerging regulations and acute andchronic physical risks.
Operations: Climate-related opportunities across our operations include reducing operating costs and environmental impacts at our global facilities by improving energy, water, and resource
efficiency, and leveraging climate policies and tax incentives to expand onsite renewable energy. We have been a carbon neutral company powered by 100% renewable electricity across ourglobal operations since 201819 through onsite solar, renewable energy credits, carbon offsets, reduced greenhouse gas (GHG) emissions, and achieved green building certification across 59% of
our operations.20 These investments and initiatives are factored into our annual financial planning processes.
Products and Services: To respond to changes in consumer preferences, we invest in research and development to develop and enhance our products and services. One of our Advance Climate
Solutions objectives is to enable our customers and partners to transition to a low-carbon economy through the development of new capabilities, supported by a goal to pilot low-carbon productinnovations, including carbon tracking and offset solutions.
In 2019, we launched the first American Express Card manufactured primarily from reclaimed plastic collected from beaches and coastal communities, which reduces GHG emissions and energy
and water consumption during manufacturing compared to virgin plastic. We also introduced a Card Take Back Program, which enables US Card Members to send back expired or non-working
cards to American Express for recycling. We have recycled more than two million cards since 2019, including cards returned by Card Members. In 2022, we set a goal for the vast majority of plastic
cards issued by American Express to be made of at least 70% recycled or reclaimed plastic by the end of 2024, which can help avoid virgin plastics introduced into the environment. In 2022, we
continued to expand cards made from recycled or reclaimed plastics globally, including approximately four million cards issued in the US, Canada, France, Germany, and Italy.
In February 2023, we expanded the American Express Carbon Footprint Tool to include additional categories of spend for select Corporate clients so that they can track estimated carbon
emissions associated with spend across air travel, ground transportation, hotel stays, food and beverage, and retail. The Carbon Footprint Tool applies conversion factors and standards fromvarious governmental and private organizations to a company’s spend on its American Express Corporate Product Program. The Tool can be accessed when clients log in to Commercial Insights, a
suite of tools offered to American Express’ largest Corporate clients.21

19. Achieved carbon neutral operations for Scope 1 (direct emissions from sources owned or controlled by American Express), Scope 2 (indirect location-based and market-based emissions), and Scope 3 (waste and employee business travel) emissions through renewable energy credits, carbon offsets, and reduced GHG emissions.
Operations include all our managed facilities, field sites, and data centers). Managed facilities are individual properties operationally managed by our global real estate team and housing critical business functions. Field sites are individual properties that are not operationally managed by our global real estate team but directly by
our business units. They are typically smaller sites, less than 30,000 square feet (including airport lounges, foreign exchange kiosks, and sales offices) that are owned or leased by American Express.
20. Green building certified percentage is represented by the total year-end square footage certified out of total year-end building square footage. This includes leased or owned facilities actively occupied by American Express (excluding parking lot square footage) that have achieved certification under a global or locally recognizedthird-party environmental building certification system as meeting their performance criteria (LEED, BREEAM, NABERS, GreenMark, HQE, and Effinergie+).
21. The estimated information provided by the Carbon Footprint Tool is for generalized informational purposes only and does not constitute financial, tax, accounting, legal or other professional advice on any subject matter.

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Disclosure

2c. Describe the resilienceof the organization’s
strategy, taking into
considerationdifferent climaterelated scenarios,
including a 2oC or
lower scenario.

Our ESG governance framework, Advance Climate Solutions pillar of our ESG strategy, and qualitative climate risk scenario analyses demonstrate our progress to enhance climate risk
management and opportunities across our business. We committed to net-zero by 2035 in alignment with the SBTi and selected this goal based on SBTi’s most ambitious level of climate action, to
limit global warming to 1.5°C above pre-industrial levels. We leverage science-based frameworks including the Intergovernmental Panel on Climate Change (IPCC) and International Energy Agency(IEA), to inform our climate-related risk identification process across short-, medium-, and long-term horizons.
We aim to minimize our climate impact and manage our climate-related risks and opportunities; enable our customers and partners to transition to a low-carbon economy through thedevelopment of new capabilities; and support community programs and initiatives to help build more climate resilient and equitable communities.
For our qualitative climate-related physical risk assessment, we evaluated potential threats and mitigation opportunities to critical business sites across our global operations, supply chain, andrevenue sources both under historic conditions and applied to future climate projections from the IPCC’s Representative Concentration Pathway (RCP) 8.5 scenario. Each site was examined forseven potential acute and chronic risks from the physical impacts of climate change: 1) increasing temperatures; 2) sea level rise; 3) precipitation changes; 4) flooding; 5) cyclonic events; 6)extended drought; and 7) extreme temperatures. For the qualitative climate-related transition risk assessment, we evaluated the impact of three future scenarios from the IEA compatible with a
1.5°C, 2-3°C, 6°C pathway on countries essential to our business operations against 2025- and 2040-time horizons. The assessment evaluated the impact of transition risks to our potential future
revenues and costs associated with capital expenditures and capital allocation strategies over short- and long-term horizons.

3. Risk Management
3a. D
 escribe theorganization’s
processes for
identifying andassessing climaterelated risks

American Express management establishes risk management policies and procedures to identify, assess, measure, and manage key risks facing the company. ESG risks, including climate-relatedrisks, are currently identified as an “emerging risk” within our risk governance framework.
We define climate-related risks as:
1. Transition Risks: Risks related to the transition to a low-carbon economy, which may include extensive changes pertaining to policy, legal, technology, market, and reputational risks
2. Physical Risks: Risks related to the physical impacts of climate change, typically driven by acute physical risk such as increased severity of extreme weather events (e.g., cyclones, hurricanes,
floods) and chronic physical risks which are longer-term shifts in climate patterns (e.g., sea level rise, chronic heat waves)
Climate-related risks are interconnected and overarching across all risk types as it may manifest as credit risk, operational risk, market risk, liquidity risk, and other risk types.
To identify and assess climate-related risks, we conducted qualitative climate-related physical and transition risk and opportunity assessments to understand the current and potential impacts ofclimate change to our direct business operations, supply chain, and financial activities. We also consider current and emerging climate regulations, technology, legal, and reputational risks andqualitative factors such as disruptions to our operations, impacts on our colleagues, and damage to our brand.

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TCFD Recommendation

Disclosure

3b. D escribe theorganization’s
processes for
managing climaterelated risks

ESG risks, including climate-related risks, are included in our ERM framework and climate-related risks are currently managed as part of our ERM process.

SUPPORTING
DATA

100

The ESG Steering Committee, comprised of senior leaders across the organization guides our ESG strategy and related policies and programs and is supported by our ESG Working Groups,
including the Advance Climate Solutions Working Group and Net-Zero Working Group. Additionally, a Climate Risk Management Working Group was established in 2022, with direct accountability
to the Enterprise Risk Management Committee. The working groups consider climate-related risks in connection with developing climate-related goals and operational strategies.
In 2022, to formally manage climate risk, a dedicated Climate Risk Team was formed within the ERM function, under the Global Risk and Compliance organization. The Climate Risk Team’s
responsibility is to establish and manage a climate risk management program that supports the identification, quantification and monitoring of climate risk and the integration of climate risk into
American Express’ broader risk frameworks and processes, including risk management framework. Furthermore, the Climate Risk Team works closely with other risk specialists, business areas
and functions to facilitate knowledge sharing and to provide reports and subject matter expertise to the ERMC and ESG Steering Committee.

3c. Describe how
processes for
identifying, assessing,and managing
climate-related risks
are integrated into
the organization’s
overall risk
management

We have a comprehensive ERM program to identify, aggregate, monitor, and manage risks. The program also defines our risk appetite, governance, culture, and capabilities. ESG risks, including
climate-related risks, are currently identified as an “emerging risk” within our risk governance framework. The implementation and execution of the ERM program is headed by our Chief Risk Officer.
The ERMC, chaired by our Chief Risk Officer, is the highest-level management committee to oversee all firm-wide risks and is responsible for risk governance, risk oversight, and risk appetite. The
ERMC reviews key risk exposures, trends and concentrations, significant compliance matters, and provides guidance on the steps to monitor, control, and report major risks. The ERMC approved theformation of the Climate Risk Management Working Group, composed of cross-functional representation with direct oversight specifically to address evolving regulatory expectations on
management of climate-related financial risks.
In addition, the Asset Liability Committee, chaired by our Chief Financial Officer, is responsible for managing our capital, funding and liquidity, investment, market risk, and asset/liability activities inaccordance with our policies and in compliance with applicable regulatory requirements.
The ESG Steering Committee, comprised of senior leadership, discuss ESG topics and climate-related risks, opportunities, and strategies to advance our ESG goals.
Transition risks and opportunities, including current and emerging regulations, disclosure requirements, legal and reputational risks, and customer requirements are considered by teams including
Global Real Estate and Workplace Experience, Global Risk and Compliance, General Counsel’s Organization, Finance, Technology, CA&C, Corporate Sustainability, and ESG Teams.
Physical risks and opportunities, including extreme weather events and natural disasters, are identified and measured for severity as part of our business continuity planning and primarily overseen
by our Global Real Estate and Workplace Experience and Technology Teams. Disaster Recovery and Business Continuity Plans are developed and updated regularly to ensure steps are in place toidentify and respond before, during, and after a service continuity event. Our facility and data center teams review these established procedures and controls, test them annually, and certify key
equipment and systems operations to ensure uninterrupted operation of our data centers during localized weather events. Our facility infrastructure is monitored 24/7 and test results are tracked
and reported. Our US-based data center facilities are ISO-certified to ensure that environmental risks and/or opportunities are identified and prioritized. To maintain resiliency and business
continuity in our offices and data centers, we factor climate-related physical risks into our short-, medium-, and long-term real estate strategies. In addition, we evaluate qualitative climate-relatedtransition risks that may impact our global operations, including current and emerging regulations. These climate-related risks influence our operational strategy, and we have identified
opportunities to minimize these risks, including by maintaining carbon neutral operations and continuing to invest in energy efficiency projects and renewable electricity.

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Disclosure

4. Metrics and Targets
4a. Disclose the metrics
used by theorganizations to assessclimate-related risks andopportunities in line with
its strategy and risk
management process

We track and disclose climate-related metrics, including energy, purchased and onsite renewable energy, and Scope 1, 2, and 3 (Category 5 – Waste and Category 6- Business Travel) GHG
emissions, as well as performance against our Advance Climate Solutions goals outlined in section 4c. We also disclose GHG emissions intensity per revenue, per total annual average building
square footage, and per colleague.

4b. D
 isclose Scope 1, 2, andif appropriate, Scope 3
greenhouse gas (GHG)
emissions, and therelated risks

We track and disclose our Scope 1, 2, and 3 (Category 5 – Waste and Category 6- Business Travel) GHG emissions annually. Emissions are calculated in alignment with the Greenhouse Gas
Protocol and third-party verified using the ISO14064-3 standard. We maintained CarbonNeutral® certified operations, in alignment with the CarbonNeutral Protocol, a leading third-party
framework and our operations have been powered by 100% renewable electricity globally since 2018.22

22. See note 19 on page 98 for more information.

For more information on our GHG emissions data for 2022, 2021, and 2020, refer to the Environmental Performance Data Summary and Progress On Our Advance Climate Solutions Goals, andProgress on our 2025 Operational Environmental Goals in our 2022-2023 ESG Report.

For more information on our GHG emissions data for 2022, 2021, and 2020, refer to the Environmental Performance Data Summary in our 2022-2023 ESG Report.

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TCFD Recommendation

Disclosure

4c. Describe the targets
used by theorganization to
manage climaterelated risks andopportunities andperformance against
targets

We aim to minimize the impact of our operations on the environment. In 2019, we set environmental performance goals to reduce energy, water, and waste, continue to power our operations with 100%
renewable electricity, remain CarbonNeutral®, source paper responsibly, phase out single-use plastics, and achieve green building certifications by 2025. In 2020, we joined RE100, a global coalition ofleading businesses committed to using 100% renewable electricity. In 2021, we developed goals across our ESG strategy’s three pillars: Build Financial Confidence, Promote Diversity, Equity, andInclusion, and Advance Climate Solutions. Our Advance Climate Solutions pillar includes strategic objectives and goals to minimize our climate impact, manage our climate-related risks andopportunities, enable our customers and partners to transition to a low-carbon economy through the development of new capabilities across our company, and support community programs andinitiatives to help build more climate resilient and equitable communities. In 2021, we formally committed to the SBTi and joined the Business Ambition to 1.5°C aligned with the goal to limit global
warming to 1.5°C. In 2022, we submitted near-term and long-term emissions reductions targets to the SBTi for validation in 2023 in line with SBTi guidance.
American Express has set the following climate-related goals:
Advance Climate Solutions Goals• Commit to net-zero emissions by 2035 in alignment with the SBTi
• Enhance the management of climate-related risks and opportunities across our business• Pilot low-carbon product innovations, including carbon tracking and offset solutions• Provide at least $10 million to support initiatives, partnerships, and programs that address the adverse effects of climate change and pollution on communities from 2021 through 2025
• Engage our colleagues in sustainability initiatives through the Green2Gether program
Operational Environmental Goals by 202523• Remain carbon neutral across our operations• Continue to power our operations with 100% renewable electricity• Reduce energy use by 35% across our managed facilities compared to a 2011 baseline24• Divert 60% of office waste generated from our managed facilities away from landfills25• Achieve zero waste certification for US headquarters26• Achieve green building certifications for 60% of our operations27• Source 100% of our direct marketing, customer communications, and office paper from certified responsibly managed forests
For more information on progress on our goals, refer to Progress on Our Advance Climate Solutions Goals, Progress on Our 2025 Operational Environmental Goals, and Environmental Performance
Data Summary in our 2022-2023 ESG Report.

23. I n 2022, we initiated a phased re-opening of our offices that were closed in 2021 in alignment with best practices to support health and safety during the COVID-19 pandemic. As a result, our performance on our operational goals against our 2019 pre-pandemic baseline were impacted and we have continued to temporarily suspend
reporting our performance against the following three goals: reduce waste generated from our managed facilities by 10% per colleague compared to 2019, reduce water use from managed facilities by 10% per colleague compared to 2019, and eliminate single-use plastics across our operations, We are also reviewing our methodologies
in relation to these changes as we adapt to the new operating environment.
24. E
 nergy use reduction compared to 2011 calculations are based only on managed facilities where metered data is available and excludes field sites, managed sites with estimated data, and data centers not operationally managed by our global real estate team.
25. M
 easurement is based only on managed facilities where metered and/or measured data is available.
26. D
 efinition of zero-waste is aligned with the US Green Building Council’s standard of a minimum of 90% waste diversion from landfills to achieve zero-waste certification.
27. Green building certified percentage is represented by the total year-end square footage certified out of total year-end building square footage. This includes leased or owned facilities actively occupied by American Express (excluding parking lot square footage) that have achieved certification under a global or locally recognizedthird-party environmental building certification system as meeting their performance criteria (LEED, BREEAM, NABERS, GreenMark, HQE, and Effinergie+).

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103

2022–2023 SASB INDEX
American Express Sustainability Accounting Standards Board (SASB) Index
This Index reflects our report in accordance with Industry Standards Version 2018–10 issued by the Sustainability Accounting Standards Board (SASB). Our disclosures under those standards are
based on three SICS industries that are most closely aligned with our mix of businesses: Consumer Finance (FN-CF), Commercial Banks (FN-CB), and Software and IT Services (TC-SI). Unlessotherwise noted, all data and descriptions are reported for the American Express Company on a consolidated basis where applicable and not just the businesses or segments relevant to a particularindustry. We do not currently disclose all metrics included in the standards for these three SICS industries but will continue to evaluate them in the future. Our commitment is to provide investors
with useful, relevant, and meaningful sustainability information and we may evolve our disclosures on these SASB topics over time. All reported data is as of and for the year ended December 31,
2022, unless otherwise noted. While most information is found in our 2022-2023 ESG Report, other primary sources include our 2022 Annual Report on Form 10-K, 2023 Proxy Statement, 2022 CDP
Climate Change Response, and American Express website.
SASB Topic

Accounting Metric

Code

Response

Business Ethics

Total amount of monetary losses as a result of legal
proceedings associated with fraud, insider trading, anti-trust,anti-competitive behavior, market manipulation, malpractice,or other related financial industry laws or regulations

FN-CB-510a.1 F

Form 10-K Note 12: Contingencies and Commitments pages 128-130

Description of whistleblower policies and procedures

FN-CB-510a.2• Our Business Ethics• Key Policies• American Express AEMP17–Whistleblower Claims Policy

Number of account holders whose information is used forsecondary purposes

FN-CF-220a.1
TC-SI-220a.2

American Express does not report a metric on the bases specified in the standard. American Express’ online Privacy Centerand its Privacy Statement describe the information we collect from our customers and how we use it.

Total amount of monetary losses as a result of legal
proceedings associated with customer privacy

FN-CF-220a.2
TC-SI-220a.3

American Express discloses all material legal proceedings in our SEC reports.

Description of policies and practices relating to behavioral
advertising and user privacy

TC-SI-220a.1• Protecting Our Customers with Fraud Prevention, Data Privacy, and Security pages 25-27• American Express Privacy Center

Customer Privacy

Data Privacy andFreedom ofExpression

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SASB Topic

Accounting Metric

Code

Response

Data
Security(1) Number of data breaches, (2) percentage involving
personally identifiable information (PII), (3) number ofaccount holders affected

FN-CF-230a.1
FN-CB-230a.1
TC-SI-230a.1

American Express’ information and cybersecurity program is designed to protect information and information security
systems from unauthorized use, disclosure, disruption, modification, and destruction. It is built upon a foundation of advanced
security technology, a well-staffed and highly-trained team of experts, and operations based on the National Institute ofStandards and Technology Cybersecurity Framework. This consists of controls designed to identify, protect, detect, respondto, and recover from information and cybersecurity incidents.
American Express does not report a metric on the bases specified in the standard, but information on cybersecurity regulation,risks, and risk management can be found:• Protecting Our Customers with Fraud Prevention, Data Privacy, and Security pages 25-27• Form 10-K pages 18, 27-28, 33-34,73

Environmental
Footprint ofHardware
Infrastructure

Card-related fraud losses from (1) card-not-present fraudand (2) card-present and other fraud

FN-CF-230a.2

Card Member and merchant-related fraud losses are included in Form 10-K Note 18: Service Fees and Other Revenue andOther Expenses page 142

Description of approach to identifying and addressing data
security risks

FN-CB-230a.2
FN-CF-230a.3
TC-SI-230a.2• Protecting Our Customers with Fraud Prevention, Data Privacy, and Security pages 25-27• 2023 Proxy page 24• American Express Online Privacy Disclosures(1) Total energy consumed, (2) percentage grid electricity, (3)percentage renewable

TC-SI-330a.4

Environmental Performance Data Summary
1) Total energy consumed: 329,677 MWh2) Total Percentage Grid Electricity: 69%
3) Percentage renewable electricity: 100%, Percentage of renewable energy: 70%

Discussion of the integration of environmental considerations
into strategic planning for data center needs

TC-SI-330a.5

Renewable Energy at our Offices and Data Centers

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SASB Topic

Accounting Metric

Code

Response

Financial Inclusion
and Capacity
Building(1) Number and (2) amount of loans outstanding qualified toprograms designed to promote small business andcommunity development

FN-CB-240a.1

We aim to build financial confidence in the communities where we live, work, and operate. To this end, our goal is to help build
resilient communities through grants, programs, and initiatives to support economic empowerment and equity.
We have already exceeded our goal of investing $500 million toward resilient and equitable communities from 2021 through2025. From 2021 through 2022, we have made or committed capital to more than $595 million in investments, community
development loans, and grants through The American Express Center for Community Development (CCD), which is responsible
for American Express National Bank’s (AENB) Community Reinvestment (CRA) activities. These funds have gone towards
affordable housing, including rental and homeownership opportunities for low- and moderate-income individuals; economic
development activities that support small businesses, minority-owned depository institutions, and community development
financial institutions; and grants that support organizations focused on building financial confidence through activities such ashome ownership workshops, increasing financial literacy for school-age children, and community projects targeting financial
accessibility and inclusion.
• Supporting Economic Growth and Resilience in Communities
Additionally, we committed $17 million in funds through 2024 as part of our Backing Small initiative to offer continued support tounderrepresented and economically vulnerable small business owners and entrepreneurs through grant programs funded by theAmerican Express Foundation, mentoring support, and technical assistance.
• Backing Economically Vulnerable Small Businesses page 20-21

Incorporation ofEnvironmental,
Social, andGovernanceFactors in Credit
Analysis

Number of participants in financial literacy initiatives forunbanked, underbanked, or underserved customers

FN-CB-240a.4

Financial literacy programs and initiatives to support small businesses are discussed in this report.
• Progress on Our Build Financial Confidence Goals• Strengthening the Financial Security of Small Businesses pages 15-19• Empowering Individuals to Enhance Financial Confidence pages 22-24• Supporting Economic Growth and Resilience in Communities pages 28-29

Description of approach to incorporation of environmental,social, and governance (ESG) factors in credit analysis

FN-CB-410a.2• Managing Climate Risks and Opportunities• Fair Lending and Financing• 2022-2023 TCFD Index

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SASB Topic

Accounting Metric

Code

Response

Recruiting andManaging a Global,
Diverse, andSkilled Workforce

Employee engagement as a percentage

TC-SI-330a.2

We engage our colleagues regularly, including through initiatives and an annual internal colleague survey. Key findings from our 2022
annual Colleague Experience Survey include:
92% of our colleagues who participated in the survey would recommend American Express as a great place to work; 87% say there
are development opportunities for them at the company; 90% believe that their leader creates an environment where everyone istreated fairly. 89% feel encouraged to provide their ideas about improving the way we work; 91% believe diverse perspectives arevalued on their team; and 92% feel supported by their leader in making decisions about their well-being.
Additionally, there are mandatory trainings for all global colleagues. Completion rates for certain mandatory trainings can be foundthroughout the 2022-2023 ESG Report: Training on Cybersecurity, Data Protection, and Data Privacy, Our Business Ethics, andFair Lending and Financing.

Selling
Practices

Percentage of gender and racial/ethnic group representationfor (1) management, (2) technical staff, and (3) all other
employees

TC-SI-330a.3• Global Workforce Diversity pages 49-50• 2022 US Workforce Diversity and 2022 Global Gender Diversity• 2022 EEO-1 Data

Percentage of total remuneration for covered employeesthat is variable and linked to the amount of products andservices sold

FN-CF-270a.1

An explanation of our compensation programs can be found in our 2023 Proxy in the Compensation Discussion and Analysis
section pages 50–89; information on our stock option and award programs can be found in Form 10-K Note 10: Stock-Based
Compensation pages 125-126.

Approval rate for (1) credit and (2) pre-paid products forapplicants with FICO scores above and below 660

FN-CF-270a.2

American Express has a global Card Member base and FICO scores are not available in all regions or for all customer types. As
part of our Build Financial Confidence pillar, we have an ESG objective to empower individuals to build and maintain theirfinancial well-being, while providing robust account security and a goal to provide access to credit to at least 4 million
underrepresented individuals from 2021 through 2025.
• Empowering Individuals to Enhance Financial Confidence pages 22-24• Fair Lending and Financing(1) Number of complaints filed with the Consumer Financial
Protection Bureau (CFPB), (2) percentage with monetary or
nonmonetary relief, (3) percentage disputed by consumer,and (4) percentage that resulted in investigation by the CFPB

FN-CF-270a.4

CFPB Consumer Complaint Database

Total amount of monetary losses as a result of legal proceedings
associated with selling and servicing of products

FN-CF-270a.5

American Express discloses material legal and regulatory proceedings in Form 10-K Note 12: Contingencies and Commitments
pages 128-130

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SASB Topic

Accounting Metric

Code

Response

Systemic Risk
Management

Global Systemically Important Bank (G-SIB) score, bycategory

FN-CB-550a.1

National Information Center website—American Express Company RSSD ID: 1275216

Description of approach to incorporation of results ofmandatory and voluntary stress tests into capital adequacy
planning, long-term corporate strategy, and other businessactivities

FN-CB-550a.2

Form 10-K pages 13–14

Managing Systemic
Risks fromTechnology
Disruptions

Description of business continuity risks related to disruptionof operations

TC-SI-550.a.2• Managing Climate Risks and Opportunities• Form 10-K pages 22-36

Activity Metrics

Number of unique consumers with an active (1) credit card
account and (2) pre-paid debit card account

FN-CF-000.A(1) The number of basic and total cards-in-force worldwide and related information are provided in Form 10-K on pages 2, 3, 47,
53, 56, 59. Definitions of these metrics can be found on page 82 of the Form 10-K.
(2) American Express does not report a metric for pre-paid debit card accounts.

Number of (1) credit card accounts and (2) pre-paid debitcard accounts

FN-CF-000.B(1) The number of basic and total cards-in-force worldwide and related information are provided in Form 10-K on pages 2, 3, 47,
53, 56, 59. Definitions of these metrics can be found on page 82 of the Form 10-K.
(2) American Express does not report a metric for pre-paid debit card accounts.

(1) Number and (2) value of loans by segment: (a) personal,(b) small business, and (c) corporate

FN-CB-000.B

Form 10-K Table 7: Selected Credit-Related Statistical Information on page 48, and individual business unit segment results for
US Consumer Services on pages 51-53, Commercial Services on pages 54-56 and International Card Services on pages 57-59,
and Global Merchant and Network Services on page 60.

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

108

2023-2023 GRI CONTENT INDEXThe American Express 2023-2023 ESG Report references the Global Reporting Initiative (GRI) Standards: Core Option. In addition, we included disclosures from the Financial Services Sector
Supplement. The following index outlines the location of the information required for each GRI disclosure. While most information is found in this report, other primary sources referenced include:2022 Annual Report on Form 10-K, 2023 Proxy Statement, 2022 CDP Climate Change Response, and American Express website.
Code

GRI Disclosure

Reference/Location

General Disclosures
GRI 2: General Disclosures 2021
2-1

Organizational Details

American Express Company
200 Vesey Street
New York, NY 10285
Form 10-K Item 1

2-2

Entities included in the organization’s sustainability reporting• About This Report• Form 10-K Item 1

2-3

Reporting period, frequency and contact point• January 1, 2022–December 31, 2022. In some cases, we share highlights from initiatives that were launched in early 2023 to provide more
up-to-date information.
• Frequency: Annual• Contact: corporate.sustainability@aexp.com

2-4

Restatements of information

Environmental Performance Data Summary

2-5

External assurance

We assure report content through an internal review process, including executive oversight of subject matter reviews and validation. Apex
Companies, LLC (Apex) was engaged to conduct an independent verification of the energy consumption and greenhouse gas emissions
reported by American Express for the calendar year 2022. Limited Assurance Statement of GHG Emissions

2-6

Activities, value chain, and other business relationships• Our Approach to Corporate Sustainability• Operating a Responsible Supply Chain Globally• 2023 Proxy• Form-10-K Item 1

2-7 and 2-8

Employees

As of December 31, 2022, American Express employed approximately 77,300 colleagues• Diversity Representation and Equal Opportunity pages 49-51• 2022 US Workforce Diversity and 2022 Global Gender Diversity• 2022 EEO-1 Data
• Backing Our Colleagues• Form 10-K Item 1

INTRODUCTIONOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

109

Code

GRI Disclosure

Reference/Location

2-9

Governance structure and composition• Governance and Operating Responsibly pages 75-77• 2023 Proxy Statement pages 3-29
• Governance Framework• Corporate Governance Principles

2-10

Nomination and selection of the highest governance body

• Our Corporate Governance Framework• 2023 Proxy Statement pages 2-10
• Corporate Governance Principles

2-11

Chair of the highest governance body

Stephen J. Squeri Chairman and Chief Executive Officer, 2023 Proxy Statement page 12

2-12Role of the highest governance body in overseeing the managementof impacts• Governance and Operating Responsibly pages 75-77• 2023 Proxy Statement pages 19-26

2-13

Delegation of responsibility for management of impacts

ESG Governance

2-14

Role of the highest governance body in sustainability reporting

ESG Governance

2-15

Conflicts of interest

2023 Proxy Statement pages 16-27 and 33, Code of Business Conduct for Members of the Board of Directors

2-16

Communications of critical concerns

Our Business Ethics, Code of Conduct, Amex Ethics Hotline

2-17

Collective knowledge of the highest governance body2023 Proxy Statement pages 7-14

2-18

Evaluation of the performance of the highest governance body2023 Proxy Statement pages 17-18

2-19

Renumeration policies

Our Executive Compensation Program, 2023 Proxy Statement pages 48-89

2-20

Process to determine renumeration

2023 Proxy Statement pages 49-64

2-21

Annual total compensation ratio

2023 Proxy Statement page 84

2-22

Statement on sustainable development strategy

A Message from Our Chairman and CEO

2-23

Policy commitments

Our Business Ethics, Policy Engagement, Key Policies, Corporate Governance Principles, Code of Conduct, Human Rights Statement, American
Express Policy Engagement and Political Activity

2-24

Embedding policy commitments

Governance and Operating Responsibly, Code of Conduct, Corporate Governance Principles

2-25

Processes to remediate negative impacts

Governance and Operating Responsibly, Engaging Our Stakeholders in ESG Efforts, Code of Conduct, Corporate Governance Principles

2-26

Mechanisms for seeking advice and raising concerns

Our Business Ethics, Code of Conduct, Corporate Governance Principles, Amex Ethics Hotline

2-27

Compliance with laws and regulations

Form 10-K Note 12: Contingencies and Commitments pages 128-130,

2-28

Membership associations

Organizations We Work With on ESG Matters

2-29

Approach to stakeholder engagement

Our Priority ESG Issues, Engaging Our Stakeholders in ESG Efforts

2-30

Collective bargaining agreements

We have a small number of employees which were subject to collective bargaining agreements in 2022. We believe that relations with our
employees are positive.

INTRODUCTIONCodeOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEGRI Disclosure

ADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

Reference/Location

GRI 3: Material Topics 2021
3-1

Process to determine material topics

Our Priority ESG Issues

3-2

List of material topics

Our Priority ESG Issues

3-3Management of material topics

2022-2023 ESG Report

Economic Disclosures
201-1

Direct economic value generated and distributed

Form 10-K Item 7

201-2

Financial implications and other risks and opportunities due toclimate change

Moving to Net-Zero Emissions, Managing Climate Risks and Opportunities, 2022-2023 TCFD Index, Form 10-K Item 1A

201-3

Defined benefit plan obligations and other retirement plans

Form 10-K Note 11: Retirement Plans page 127, American Express Colleague Benefits Website: Retirement

GRI 203: Indirect Economic Impacts 2016
203-1

Infrastructure investments and services supported• Our $1 Billion Sustainability Bond
• Our Community Impact Priorities• Supporting Economic Growth and Resilience in Communities• Supporting Underrepresented-Owned Businesses

203-2

Significant indirect economic impacts

Managing Climate Risks and Opportunities

GRI 205: Anti-Corruption 2016
205-1

Operations assessed for risks related to corruption

Our Business Ethics, Key Policies, Code of Conduct

205-2

Communication and training about anti-corruption policies
and procedures

Our Business Ethics, Key Policies, Code of Conduct. All colleagues must complete anti-corruption and bribery training tied to theirannual compensation that includes information about applicable laws and regulations for their location. In 2022, 99.9% of in-scope
American Express colleagues completed the annual Anti-Bribery and Corruption (ABC) Training.

GRI 206: Anti-competitive Behavior 2016
206-1

Legal actions for anti-competitive behavior, anti-trust, andmonopoly practices

Form 10-K Item 3, Code of Conduct110

INTRODUCTIONCodeOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEGRI Disclosure

ADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

Reference/Location

Environmental Disclosures
GRI 301: Materials 2016
301-2

Recycled input materials used

Our $1 Billion Sustainability Bond, Expanding Recycled Plastic Cards

GRI 302: Energy 2016
302-1

Energy consumption within the organization

Making Progress on Energy Efficiency and Emissions, Environmental Performance Data Summary

302-3

Energy intensity

Progress on our 2025 Operational Environmental Goals, Making Progress on Energy Efficiency and Emissions, Environmental Performance
Data Summary

302-4

Reduction of energy consumption

Progress on our 2025 Operational Environmental Goals, Environmental Performance Data Summary

GRI 303: Water and Effluents 2016
303-5

Water Consumption

Decreasing Our Water Use, Environmental Performance Data Summary

GRI 305: Emissions 2016
305-1

Direct (Scope 1) GHG emissions

Environmental Performance Data Summary

305-2

Energy indirect (Scope 2) GHG emissions

Environmental Performance Data Summary

305-3

Other indirect (Scope 3) GHG emissions

Environmental Performance Data Summary

305-4

GHG emissions intensity

Environmental Performance Data Summary

305-5

Reduction of GHG emissions

Moving to Net-Zero Emissions pages 33-35, Environmental Performance Data Summary

GRI 306: Waste 2020
306-1

Waste generation and specific waste-related impacts

Progress on our 2025 Operational Environmental Goals, Reducing and Managing Waste, Environmental Performance Data Summary

306-2

Management of significant waste-related impacts

Progress on our 2025 Operational Environmental Goals, Reducing and Managing Waste

306-3

Waste generated

Reducing and Managing Waste, Environmental Performance Data Summary

306-4

Waste diverted from disposal

Reducing and Managing Waste, Environmental Performance Data Summary

306-5

Waste directed to disposal

Reducing and Managing Waste, Environmental Performance Data Summary111

INTRODUCTIONCodeOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEGRI Disclosure

ADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

Reference/Location

Social Disclosures
GRI 401: Employment 2016
401-1

New employee hires and employee turnover

Hiring, Promotions, and Retention

401-2

Benefits provided to full-time employees that are not provided totemporary or part-time employees

Backing Our Colleagues pages 69-73, American Express Colleague Benefits Website

401-3

Parental leave

Providing Family and Caregiver Support for Colleagues, American Express Colleague Benefits Website: Parental Leave

GRI 403: Occupational Health and Safety 2018403-1

Occupational health and safety management system

Maintaining Healthy and Safe Workplaces Globally, Supporting Our Colleagues’ Holistic Health and Well-Being pages 69-70

403-3

Occupational Health Services

Supporting Our Colleagues’ Holistic Health and Well-Being pages 69-70

403-4

Worker participation, consultation, and communication on
occupational health and safety

Maintaining Healthy and Safe Workplaces Globally, Supporting Our Colleagues’ Holistic Health and Well-Being pages 69-70,
American Express Colleagues Benefits Website

403-6

Promotion of worker healthSupporting Our Colleagues’ Holistic Health and Well-Being pages 69-70

GRI 404: Training and Education 2016
404-1

Average hours of training per year per employee

17.3 hours of mandatory training on average per in-scope colleague in 2022

404-2

Programs for upgrading employee skills and transition
assistance programs

Hiring, Promotions, Retention pages 51-52, Career Growth and Development pages 72-73

404-3

Percentage of employees receiving regular performance and careerdevelopment reviews

Career Growth and Development pages 72-73, 2023 Proxy page 42

GRI 405: Diversity and Equal Opportunity 2016405-1

Diversity of governance bodies and employees

Global Workforce Diversity pages 49-50, Board of Directors Demographics, 2022 US Workforce Diversity and 2022 Global Gender Diversity,
2022 EEO-1 Data, 2023 Proxy pages 3-6

405-2

Ratio of basic salary and remuneration of women to men

Maintaining 100% pay equity112

INTRODUCTIONCodeOUR APPROACH TOCORPORATE SUSTAINABILITY

BUILD
FINANCIAL CONFIDENCEGRI Disclosure

ADVANCE
CLIMATE SOLUTIONSPROMOTE
DE&I

BACKING OUR
COLLEAGUESGOVERNANCE &OPERATING RESPONSIBLY

SUPPORTING
DATA

Reference/Location

GRI 413: Local Communities 2016413-1

Operations with local community engagement, impact assessments,
and development programs

2022-2023 ESG Report

GRI 414: Supplier Social Assessments 2018
414-1

New suppliers that were screened using social criteria

Supplier Diversity pages 57-58, Operating a Responsible Supply Chain Globally

GRI 415: Public Policy 2016
415-1

Political Contributions

Policy Engagement, American Express Policy Engagement and Political Activity Website, American Express Company PoliticalContributions Report

GRI 417: Marketing and Labeling 2016
417-1

Requirements for product and service information and labelingServing Our Customers Responsibly

GRI 418: Customer Privacy 2016
418-1

Substantiated complaints concerning breaches of customer privacy
and losses of customer data

American Express does not report a metric on the bases specified in the standard. Learn more about our customer privacy practices:
Protecting Our Customers with Fraud Prevention, Data Privacy and Security pages 25-27

Financial Services Sector Supplement 2008
FS2

Procedures for assessing and screening environmental and social risks
in business lines

Managing Climate Risks and Opportunities, 2022-2023 TCFD Index

FS6

Percentage of the portfolio for business lines by specific region, size,and by sector

Form 10-K Item K

FS8

Monetary value of products and services designed to deliver a specificenvironmental benefit for each business line broken down by purpose

Our $1 Billion Sustainability Bond, Supporting Our Customers in the Transition to a Low-Carbon Future pages 40-43, Fair Lending and
Financing and Investing Activities

FS14

Initiatives to improve access to financial services for
disadvantaged people

Empowering Individuals to Enhance Financial Confidence pages 22-24, Our Powerful Backing for the Restaurant Community pages 18-19,
Backing Economically Vulnerable Small Businesses, Supporting Economic Growth and Resilience in Communities pages 28-29

113

Thank you for reading our
2022–2023 ESG Report.

For more information, visit go.amex/esg
We value feedback from our stakeholders. If you would like to get in touch,please email corporate.sustainability@aexp.com.