Finance

Valley Bank Highlights Social Progress, Environmental Impact

Wayne-based Valley National Bank has issued its first annual Environmental, Social and Governance (ESG) report which highlights the bank’s cultural and social progress and its focus on the risks and opportunities of climate change. The report covers the work accomplished in 2020 and first half of 2021 and represents Valley’s mission to promote inclusive economic opportunity, growth and positive societal impact. It also reinforces Valley’s commitment to SASB and TCFD frameworks. The full report can be found at www.valley.com/ESG.

Highlights include:

  • Valley’s social impact, including DEI initiatives, community engagement, investment and philanthropy as well as support for affordable housing
  • Valley’s environmental impact, including climate mitigation lending
  • Valley’s governance impact, including governance and oversight of ethics, data privacy, cybersecurity and other ESG-related factors

“Our first annual ESG Report highlights how Valley continues to make strides in its efforts to have a positive impact on the communities we serve and in the world in which we live,” commented Ira Robbins, Valley Bank CEO. “We recognize the critical role we play and the unique opportunity we have to create a socially responsible and sustainable future. That’s why we’ve dedicated our resources and leaders to making ESG a priority at Valley.”

In early 2021, Valley created an ESG Council to bring together the bank’s various business lines to strengthen its ESG efforts, raise awareness of the impact of climate change and collaborate on opportunities to mitigate its effects.

“Valley recognizes that climate change is one of the world’s most pressing issues and we are committed to understanding how it may influence the risks we identify and manage,” Robbins stated. “We are implementing programs to better understand climate-related risks and how they impact our funding and capital management practices.”

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