Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic Vitality
• Valuing Our People
• Our Environment
• Responsible Governance

Environmental Achievements

• Purchased renewable energy certificates (RECs) in the New York market to offset 100% of annual energy consumption (4.69 MWh).
• Retrofitted 13 branches with energy-efficient lighting fixtures, saving 248,627 kWh.
• Reduced carbon emissions by nearly 1,200 metric tons.
• Increased use of e-records and e-signing technology, reducing paper waste and carbon emissions.
• $661M in loans for renewable energy, energy-efficient components and environmental remediation

Social Achievements

• Launched a $6.5 billion, three-year Community Investment Strategy.
• Launched the Community Liaison Officer (CLO) Program to provide support and financial education to LMI and minority borrowers.
• Launched three Webster Finance Labs to empower youth and build future workforce.
• Introduced Webster Connect Checking, providing financial services to unbanked and underbanked clients.
• Received an overall rating of “Outstanding” in the most recent CRA Performance Evaluation Report.

Governance Achievements

• Established a new Office of Corporate Responsibility (OCR) to oversee community engagement and ESG efforts.
• Introduced a new Code of Business Conduct and Ethics.
• Held forums and town hall meetings on ethics and risk management.
• Maintained robust programs to manage operational risks and uphold compliance.

Climate Goals & Targets

Environmental Challenges

• Cybersecurity threats
• Climate-related physical and transition risks

Mitigation Strategies

• Robust information security and technology risk programs managed by the Chief Information Security Officer.
• Developing and refining risk management framework for measuring and managing climate-related risks.
• Regular tabletop exercises to validate roles and responsibilities and response protocols.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Developing policies, practices and procedures to ensure equal opportunity and enable access for diverse suppliers.

Climate-Related Risks & Opportunities

Physical Risks

• Weather-related natural catastrophes

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SASB

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Forbes 40 Best Employers in Connecticut
• Forbes Best Employers by State
• Forbes Best-in-State Banks and Credit Unions
• Newsweek Most Trusted Companies in the United States
• BISA Diversity, Equity & Inclusion Award
• Bank Director’s Ranking Banking Best U.S. Banks

Environmental Metrics

ESG Focus Areas

• Community Investment
• Economic Vitality
• Valuing Our People
• Environmental Sustainability
• Responsible Governance

Environmental Achievements

• Retrofitted 26 branches with energy-efficient lighting fixtures, with an estimated annual energy savings of 690,029 kWh
• Increased the use of e-records and e-signing technology resulting in reductions in paper waste and carbon emissions
• Diverted 3,228 devices and 16,828 pounds of miscellaneous electronics to e-Waste disposal
• Created or maintained commitments for approximately $757.7 million in loans for renewable energy, environmental remediation and energy-efficient components

Social Achievements

• Launched “Webster You’re Home,” a Special Purpose Credit Program aimed at expanding homeownership opportunities for low- to moderate-income (LMI) first-time homebuyers
• Introduced Webster’s Minority and Women Owned Business Enterprise (MWBE) team to support the growth and development of minority- and women-owned small businesses
• Expanded Webster’s signature Finance Lab initiative by opening a third Finance Lab and announcing three new Finance Labs
• Partnered with 104 community development organizations to provide 128 financial literacy and homebuyer workshops to 4,385 participants

Governance Achievements

• Received an overall rating of “Outstanding” in the most recent CRA Performance Evaluation Report
• Expanded Corporate Responsibility reporting to include disclosures from the Task Force on Climate-Related Financial Disclosures (TCFD) framework and Sustainability Accounting Standards Board (SASB) disclosures
• Reported greenhouse gas (GHG) emissions for the first time

Climate Goals & Targets

Environmental Challenges

• Limited climate exposure, but potential for transition risks in high climate risk-sensitive industries
• Need to further develop a comprehensive GHG emissions inventory and reduction targets

Mitigation Strategies

• Developing and refining risk management framework for measuring and managing material climate risks
• Engaging with a third party to evaluate overall exposure to climate risk
• Taking steps to develop a more comprehensive GHG emissions inventory

Supply Chain Management

Responsible Procurement

• Supplier Diversity Program

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather, flooding, wildfires, extreme heat, sea level rise, drought

Transition Risks

• Changes in consumer preferences, regulatory requirements

Opportunities

• Financing renewable energy, environmental remediation, energy-efficient components
• Energy efficiencies, federal incentives, renewable energy procurement

Reporting Standards

Frameworks Used: SASB, TCFD, UN SDGs

UN Sustainable Development Goals

• No Poverty
• Quality Education
• Affordable and Clean Energy
• Decent Work and Economic Growth
• Reduce Inequalities
• Climate Change
• Peace, Justice, and Strong Institutions

Webster supports the SDGs through its community investment strategy, financial inclusion initiatives, and environmental sustainability efforts.

Awards & Recognition

• Top Corporate Contributor by the Boston Business Journal
• Corporate Citizen of the Year by Long Island Business News
• Newsweek Most Trusted Companies
• Corporate Partnership Award from WEDC
• YPIE Corporate Honoree
• 2023 Corporate Leadership Award from WHEDco
• Connecticut Green Bank Annual Awards