Climate First Bank joins the Net-Zero Banking Alliance organized by the UN | Your money

ST. PETERSBURG, Fla., January 11, 2022 (GLOBE NEWSWIRE) – In support of its commitment to a climate positive future, First climate bank, a community bank with a mission to save the planet, joins the Net-Zero Banking Alliance (NZBA), an industry-led, UN-convened alliance of banks from around the world committed to aligning their loan portfolios and investment on net zero emissions by 2050 or earlier, in line with the more ambitious targets set by the Paris Climate Agreement.

Representing over 40% of global banking assets, with 98 members from 39 countries and $ 66 trillion in total assets, the NZBA is a critical step in mobilizing the financial sector in the fight against the climate crisis. It recognizes the vital role of banks in supporting the global transition of the real economy to net zero emissions, encompassing both operational and attributable emissions, including Scope 3 emissions.

NZBA members commit to:

Set intermediate objectives based on scenarios for 2030 or earlier for priority sectors Prioritize the areas with the greatest impact, i.e. the sectors emitting the most and emitting the most greenhouse gases . Publish emissions and emission intensity annually Take into account the best available scientific knowledge. sign and report annually thereafter Disclose progress against a transition strategy reviewed at the board level

The NZBA is convened by the United Nations Environment Program Finance Initiative and is the banking arm of the Glasgow Financial Alliance for Net Zero, chaired by Mark Carney, United Nations Special Envoy for Climate Action and the financing of COP 26.

Based in St. Petersburg, Florida, Climate First Bank is the world’s first climate-focused commercial bank. The creation of serial eco-entrepreneur Ken LaRoe, the ESG-powered bank reduces the company’s dependence on carbon dioxide through its environmentally focused lending solutions. Since it opened in June 2021, 43% of loans funded by the Climate First Bank were mission-aligned loans such as solar power, LEED retrofit, and electric vehicle charging infrastructure.

In addition to the NZBA, Climate First Bank is a member of the philanthropic network 1% for the planet, it is on standby Company B and the only legal one Benefits Company bank in Florida. Climate First Bank also works closely with a Florida-based environmental nonprofit. We are neutral monitor and offset its environmental impact as part of its net zero commitment.

“Climate First Bank is proud to join this global alliance and work with our peers in the financial sector to accelerate climate action and pursue our collective goal of achieving net zero emissions by 2050,” said Ken LaRoe, CEO and Founder of Climate First Bank. . “Banks have a huge role to play in our fight against the climate crisis. Every investment in fossil fuels and other extractive industries is an investment in the future of humanity. This is why changing finance to finance change is a cornerstone of the plan to save our planet.

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About Climate First Bank Climate First Bank is a values-based community bank offering a comprehensive portfolio of simple and easy-to-use traditional banking services. These products are powered by high technology to meet the expectations of today’s consumers. In addition to offering standard banking services, the company places special emphasis on non-governmental organizations (NGOs) and businesses committed to sustainability. Environmentally conscious customers will find dedicated loan options for solar photovoltaic (PV) energy, energy retrofits and infrastructure to help tackle the climate crisis. FDIC member.

About the Net-Zero Banking Alliance: The industry-led, UN-organized Net-Zero Banking Alliance brings together more than 98 banks representing almost half of the world’s banking assets, which have committed to aligning their Net-zero emissions lending and investment portfolios by 2050. Combining short-term action and accountability, this ambitious commitment calls for banks to set an interim target for 2030 or earlier, using strong, science-based guidelines. The Alliance will strengthen, accelerate and support the implementation of decarbonization strategies, providing an internationally consistent framework and guidelines in which to operate, supported by peer learning from pioneer banks. It recognizes the vital role of banks in supporting the global transition from the real economy to net zero issuance.

Media contact Ericka Rivera Uproar PR for Climate First Bank (407) 417-3598 [email protected]

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