GHG Emissions, Commercial, Sourcing Renewables - June 1, 2023
Forbright Bank Maintains Carbon Neutrality
Forbright Bank announced it maintained carbon neutrality in its operational footprint for the second year in a row.
In 2022, the bank also increased its LEED® certified square footage and earned certifications as a Fossil-Free banking institution and a Green Business.
The bank revealed that through the end of 2022 almost a third of Forbright’s portfolio directly funded clean energy and sustainable-oriented projects, which includes millions in residential solar loans, green building upgrades, affordable housing, and accessible healthcare loans.
These projects avoided over 30,000 metric tons of estimated annual GHG emissions due to the bank financing these renewable energy and energy efficiency projects.
Forbright led a $100 million debt facility for two solar parks in Puerto Rico; joined in financing a $115 million credit facility to Cyrq Energy, a geothermal energy company; and led $80 million in financing to support Ares Management's acquisition of Atlas Crane, a crane rental company that services the wind industry.
Details were provided in its 2022 Sustainability Report.
“At Forbright Bank, our approach to sustainability is closely aligned with our greater vision — to help build a brighter future,” said John Delaney, Founder and Executive Chairman of Forbright Bank, in a statement. “We’re proud of our sustainable progress last year, and we will continue to finance a more sustainable economy for years to come.”