Finance, Industrial, Sourcing Renewables - June 17, 2024
Forbright Bank Provides Sustainability Loans
Forbright Bank, a nationwide bank and lender helping accelerate the transition to a sustainable and low-carbon economy, announced 30% of its portfolio finances sustainable companies and projects like solar loans, green building upgrades and accessible healthcare as of year-end 2023.
In 2023, Forbright Bank continued to finance businesses and projects driving the shift toward a cleaner and more sustainable economy and announced that 100% of its lending portfolio is aligned with its Responsible Investment Policy. This means, in part, that the bank does not finance any fossil fuel extraction or infrastructure and that over 35,000 metric tons of estimated GHG emissions were avoided through the financing of renewable energy and energy efficiency-related projects.
Details were released in its 2023 Sustainability Report.
“At Forbright Bank, sustainability and responsibility are integral to our long-term value creation and our vision of a brighter future — one that is more resilient for our planet and society,” said Samantha Norquist, Chief Sustainability Officer at Forbright Bank, in a statement. “We’re excited to share our progress in this year’s Sustainability Report and look forward to continued growth in the years to come.”
The bank has integrated sustainability into its operations by conducting the following:
- Nearly 75% of Forbright Bank’s physical location footprint is LEED® certified.
- 100% of the electronics maintained by the Forbright Bank IT department are recycled.
- Forbright Bank’s debit and ATM cards are now made from 100% recycled PVC.
Forbright Bank offers all employees financial incentives to install solar panels, “green” their commute to work, and conduct a home energy audit among other incentives.
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