The Bancorp, Inc. and The Bancorp Bank, N.A.
Climate Impact & Sustainability Data (2021, 2023)
Reporting Period: 2021
Environmental Metrics
Total Carbon Emissions:395 MtCO2 (Scope 1) + 1,120 MtCO2 (Scope 2 location-based) + 1,145 MtCO2 (Scope 2 market-based)
Scope 1 Emissions:395 MtCO2
Scope 2 Emissions:1,120 MtCO2 (location-based), 1,145 MtCO2 (market-based)
ESG Focus Areas
- Governance
- Environmental Stewardship
- Social Responsibility
- Financial Inclusion
- Diversity & Inclusion
- Human Rights
- Cybersecurity & Data Privacy
- Business Ethics & Consumer Protection
- Climate-Related Risks
Environmental Achievements
- Reduced occupied office space by 6,381 sq. ft in 2021
- Reduced paper usage by 80% from 2019 to 2021
Social Achievements
- Provided $27,000,000 in new community development loans and investments
- Provided $125K in CRA grants in 2021
- Launched Diversity and Inclusion (D&I) Program in 2018
- Spent $4.8M with diverse suppliers in 2021
- Offered an Employee Financial Relief Program from June 2020 to June 2021
Governance Achievements
- Formed Board-level ESG Committee in February 2021 (standing committee as of March 2022)
- Formed ESG Working Group
- Implemented robust Enterprise Risk Management (ERM) infrastructure
- Achieved 100% completion of regulatory training by employees quarterly
Climate Goals & Targets
Environmental Challenges
- Measuring exposure to climate-related impacts on financing portfolios
- Integrating climate risk metrics into credit risk management
Mitigation Strategies
- Evaluating best practices for managing climate-related risks and opportunities
- Tracking metrics within loan portfolio directed to renewable energy projects or energy efficiency lending
- Exploring partnerships with institutions focused on solar energy projects
- Evaluating increasing the proportion of electric vehicles (EVs) in fleet leasing business
Supply Chain Management
Responsible Procurement
- Supplier Diversity Program
Climate-Related Risks & Opportunities
Opportunities
- Increasing the proportion of electric vehicles (EVs) in our fleet leasing business
- Exploring partnerships with institutions that have a focus on solar energy projects
Reporting Standards
Frameworks Used: SASB, TCFD
Awards & Recognition
- Champion of Board Diversity Honoree (Oct. 2022)
- Top 50 Employer by Equal Opportunity Magazine (three consecutive years)
- Disability Friendly Award from the Business Resource Network of Sioux Falls
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:1289 MTCO2e (market-based Scope 2)
Scope 1 Emissions:304 MTCO2e
Scope 2 Emissions:1208 MTCO2e (location-based)
ESG Focus Areas
- Environmental Stewardship
- Financial Inclusion
- Employee Well-being
- Diversity & Inclusion
- Human Rights
- Governance
Environmental Achievements
- Calculated third year of greenhouse gas emissions, encompassing Scope 1 and Scope 2 emissions.
- Developed partnerships with a broader spectrum of suppliers to expand diverse supplier network.
- Donated $1 million to three watershed conservation organizations (2023-2025).
Social Achievements
- Provided $167M in community development loans and investments.
- Maintained a Small Business Administration lending portfolio exceeding $700M.
- Provided $231,500 in CRA grants in 2023.
- Offered various financial literacy programs in partnership with several organizations.
- Maintained an average of 23 hours of annual training per full-time, temporary, and contract employee.
Governance Achievements
- Established an ESG Committee (standing committee since March 2022) to oversee ESG strategy and risk management.
- Implemented robust enterprise-wide risk management (ERM) infrastructure.
- Maintained a robust Financial Crimes Risk Management Program.
- Developed and implemented various key policies, procedures, and practices (Code of Ethics, Vendor Code of Conduct, Third-Party Risk Management Policy, etc.).
- Named a Champion of Board Diversity Honoree by the Forum for Executive Women in 2022 and 2023.
Climate Goals & Targets
Environmental Challenges
- Managing climate-related risks (physical impacts and transition risks).
- Ensuring supplier diversity and inclusion.
- Maintaining robust cybersecurity and data privacy.
Mitigation Strategies
- Integrating climate-related risk assessments into due diligence practices.
- Developing strategies to increase the percentage spent with diverse suppliers.
- Implementing a multi-tiered cybersecurity architecture and robust Business Continuity Program.
- Regularly reviewing and updating risk management standards to adapt to the dynamic environment.
Supply Chain Management
Responsible Procurement
- Vendor Code of Conduct
- Third-Party Risk Management Policy
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GHG Protocol Corporate Accounting and Reporting Standard, International Sustainability Standards Board (ISSB) framework
Awards & Recognition
- Champion of Board Diversity Honoree (Forum for Executive Women)