Sunrise Banks N.A.
Climate Impact & Sustainability Data (2022-2023)
Reporting Period: 2022-2023
Environmental Metrics
Total Carbon Emissions:105,516.27 tCO2e/year (2023)
Scope 1 Emissions:188.37 tCO2e/year (2023)
Scope 2 Emissions:377.42 tCO2e/year (2023)
Scope 3 Emissions:104,950.48 tCO2e/year (2023)
ESG Focus Areas
- Climate Change
- Social Equity
- Financial Inclusion
Environmental Achievements
- Reduced operational emissions by 19.2% from 2022 to 2023 due to the sale of unused facilities.
- Financed $756k in C-PACE loans in 2023 to assist local businesses in reducing energy consumption.
- Financed the construction of Minnesota's first multifamily Passive House in 2023.
Social Achievements
- Financed the construction of the Solstice Apartments, a low-carbon footprint apartment building with features promoting sustainable transportation.
- Continued membership in the Global Alliance for Banking on Values (GABV) since 2013.
Governance Achievements
- Improved PCAF data quality scores across all asset classes in 2023.
- Commitment to the Partnership for Carbon Accounting Financials (PCAF) since 2020.
- Certified B Corp since 2009.
Climate Goals & Targets
Long-term Goals:
- Net zero emissions by 2050
Short-term Goals:
- Expand Net Zero Financing in 2024
Environmental Challenges
- Opposition from neighbors and legal issues during the construction of the Solstice Apartments.
- Data quality limitations in calculating financed emissions (addressed by improving data collection and calculation processes).
Mitigation Strategies
- Creative underwriting and investment strategies to support sustainable projects (Solstice Apartments).
- Enhanced data collection and estimation methods for PCAF reporting.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: PCAF
Certifications: Certified B Corp