CHEVY CHASE, Md.--(BUSINESS WIRE)--Forbright Bank, a nationwide bank and lender helping accelerate the transition to a sustainable and low-carbon economy, today announced the release of its 2023 Sustainability Report. The report highlights the Bank’s progress on environmental and social initiatives across its lending activities, operations, and community partnerships. It also demonstrates how Forbright’s core principles of sustainability and responsibility continue to resonate with customers, clients, employees, and investors.
“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. “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 2023 Sustainability Report marks the Bank’s growth against core sustainability pillars:
Driving Sustainable and Responsible Finance: In 2023, Forbright Bank continued to finance businesses and projects driving the shift toward a cleaner and more sustainable economy.
- 100% of Forbright Bank’s lending portfolio is aligned with its Responsible Investment Policy, meaning in part that the bank does not finance any fossil fuel extraction or infrastructure.
- 30% of Forbright Bank’s portfolio finances sustainable companies and projects like solar loans, green building upgrades, and accessible healthcare as of year end 2023.
- 35,000+ metric tons of estimated greenhouse gas emissions were avoided last year through Forbright Bank’s financing of renewable energy and energy efficiency-related projects. That’s equivalent to taking 8,330 gas-powered cars off the road.
Integrating Sustainability into Forbright Bank’s Operations: Forbright’s carbon-neutral operations, sustainability practices, and eco-friendly banking initiatives, help to support a healthier planet.
- 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.
Creating Positive Impacts in Our Community: Through corporate philanthropy, teaming up with nonprofits, and getting our employees involved in volunteering, Forbright Bank is helping to make a positive impact in the community.
- Last year, Forbright Bank was proud to make $1 million in corporate contributions to 80 nonprofits, almost twice the 2022 contribution amount.
- Being a good member of the community goes beyond banking services. To that end, Forbright Bank employees volunteered ~3,000 hours last year, about 7 hours on average per employee.
- 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. That’s one reason why Forbright was honored with the Top Workplaces 2023 award from The Washington Post, the 2023 Best Banks to Work For by American Banker, and by Best Workplace for Commuters in 2023 and 2024.
Click here or read Forbright Bank’s full Sustainability Report at www.ForbrightBank.com to learn more about how the Bank is building a brighter future thanks to a commitment to both sustainability and financial responsibility.
About Forbright Bank:
Forbright Bank (www.forbrightbank.com), Member FDIC, Equal Housing Lender, is a bank and lender taking action to decarbonize the economy. Headquartered in Chevy Chase, Maryland, Forbright is committed to accelerating the transition to a sustainable, clean energy economy by financing the companies, investors, and innovators driving that change.