|Date joined:||15 September, 2021|
|Initiatives:||Principles for Responsible Banking|
Forbright is a full-service bank, direct commercial lender, and consumer lender, committed to playing an important role in accelerating the transition to a sustainable, clean energy economy. We offer a full suite of direct lending, deposit, checking, and transaction processing capabilities. Through our asset management division, we advise over 300 institutions on their loan portfolios.
Our Commitment to ESG
Responsible environmental, social and governance (“ESG”) practices are central to our commitment to all of our stakeholders. We are committed to embedding sustainability in the foundation of our business, and we believe high standard ESG practices are entirely aligned with creating long term value.
As a values-driven organization, we hold ourselves accountable to responsible business practices and a sustainability mindset throughout our entire business. Forbright has implemented Responsible Investment and ESG policies to embed its commitment to these principles and practices across its offerings and operations. In our judgment, companies that successfully integrate best-in-class ESG practices and drive top-tier financial performance will thrive, positioning them to make the biggest impact on advancing multi-stakeholder capitalism. By embedding ESG practices into our mission, across our operations, and as part of our loan selection and capital allocation process, we are reimagining how a bank should operate in a changing world. We don’t pretend, however, to have all the answers. Our goal is one of consequence, but our insight as to the road ahead is only partial. We must be self-aware and engage in continual learning, reevaluation, and improvement.
Our Commitment to Sustainable Finance
We have also committed to dedicating half of our assets to Sustainable Finance, with the goal of accelerating the transition to a lower carbon-intensive and more inclusive economy through financing the industries and activities most directly contributing to these goals. Guided by the UN Sustainable Development Goals and other frameworks, sustainability themes include Environmental Sustainability, Affordable Housing, Healthcare Access, and Financial Inclusion. As an important step towards our commitment, we issued our first Green Bond, specifically focused on financing Renewable Energy and Energy Efficiency projects. Forbright’s Green Financing Framework will guide its initial Green Bond issuance, for which Sustainalytics has provided a Second-Party Opinion.