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Resource Use and Waste

From May 2019 to May 2020, we reduced our paper and copying expenses by
70%
— an annualized savings of
$2.4 Million
In that same time period, we reduced our expenses related to office supplies by
$300,000
— an annualized savings of
$3.6 Million

We are continuously reviewing opportunities to reduce the paper usage in our offices and in our interactions with customers. Our main focus areas are to reduce associate printing and to transition customers to online banking and digital delivery of documents and statements.

To reduce associate printing, we have a print optimization program that reviews overall printing needs and identifies opportunities to reduce printing. In addition, we use a managed print program, which defaults computers to non-color, double-sided printing and requires that associates release the print job at a network printer. If a print job is not released within 24 hours, it is automatically deleted by the print management solution.

The eSignature Program is a foundational investment in technology that allows Regions to meet customers when and where they want to do business, in a more time- and resource-efficient manner. The eSignature tool also expedites the completion of necessary documentation for our customers, thereby providing them with access to our products and services on a shorter timeline; this, in turn, benefits the Company by requiring fewer associate hours, conserving paper usage and reducing mailing expenses associated with each transaction that uses eSignature. Beyond saving customers’ time, this technology provides them with flexibility to bank at their convenience, offering the review and signature process digitally, both in branch and remotely, as well as receiving their copies electronically. It also allows Regions to reduce the amount of paper printed, securely deliver and store sensitive documents and automate many processes that have been manual in the past. By negating the need to mail, file and store important personal information, the program offers an important layer of information security protection to our services.

The core business objectives for the eSignature program are not only to launch this technology to business units, but also to review our business processes to ensure we are delivering the most efficient processes to both the Bank and our customers. The program made strategic changes in 2019 to better facilitate the expansion of eSignature usage throughout the Company, to include both externally- and internally-facing business groups.

Looking ahead, our priorities for eSignature include upgrading the eSignature core system and converting all existing business units to its newest version; onboarding at least 10 new business units; continuing to add functionality in business units that already offer eSignature; and enhancing functionality by providing a customizable reporting dashboard to business groups.

eSignature 2019 Highlights

755,080
eSignature Packages Completed
7
Business Units Added eSignature Functionality
+ More
Forms
Available for eSignature Within Sales and Service
31,165
Consumer Direct Loans Closed via eSignature
$508,924
Expense Reduction

POUNDS OF PAPER RECYCLED
(IN MILLIONS)

  1. 2017 was the first year that we included confidential waste that is associated with clean-out projects (e.g., stored records that were destroyed due to office closures) in our paper recycling calculation.

Recycling

When reducing use is not an option, we strive to divert waste from landfills through recycling. Regions’ confidential waste program is our most widespread recycling program, resulting in more than 8.3 million pounds of paper and other confidential materials being recycled in 2019.

Beyond paper and confidential materials, our Facilities recycling program includes cardboard, aluminum cans, plastic bottles and personal electronic waste from home. Recycling stations are provided in our major office buildings, operations centers and in some branches where local haulers support this program. We continue to work closely with our waste hauling vendors to optimize our Facilities’ recycling capabilities and landfill diversion rates while also engaging our associates on proper methods of recycling to reduce contamination rates.

Electronic Waste

Regions strives to reuse electronic equipment whenever possible. In 2019, we redeployed 536 computers internally and resold 1,522 pieces of IT hardware. When reuse or resale is not feasible, we recycle using approved hardware recycling vendors that are Sustainable Electronics Recycling International R2:2013 Standard-certified. By using certified vendors, we ensure that our electronic waste is properly managed and that valuable raw materials are recovered and reused. Through this program, Regions recycled approximately 24,547 pieces of IT hardware.

In addition, we held three associate electronic waste recycling events at our Birmingham campuses, resulting in 2,977 pounds of associates’ personal electronic waste being recycled. Not only does this enable associates to properly dispose of unwanted electronics, but it also provides an opportunity for us to engage our associates on the topic of sustainability.