Climate Change Data

City First Bank

Climate Impact & Sustainability Data (2016, 2018)

Reporting Period: 2016

Environmental Metrics

ESG Focus Areas

  • Community Development
  • Affordable Housing
  • Economic Justice
  • Environmental Sustainability
  • Small Business Lending
  • Education
  • Equitable Capital

Environmental Achievements

  • Citizen Energy helped building owners reduce carbon footprint by at least 30%
  • Church Street Station Studios constructed according to EarthCraft certification standards and included environmentally-friendly features such as solar panels

Social Achievements

  • Supported the creation and retention of over 7,000 units of affordable housing, over 16,000 jobs, over 14,000 new charter school seats
  • Served over 700,000 clients through educational, health and arts facilities
  • Supported countless small businesses creating jobs in under-resourced communities
  • Launched Community Land Trust Pilot Project to preserve affordable housing and prevent displacement
  • Conducted Community Development Finance Conference focused on impact capital

Governance Achievements

  • Became a Certified B Corporation
  • Established an alumni group to connect past and present stakeholders

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • High income inequality in Washington, DC
  • Lack of access to capital and resources in underserved communities
  • Displacement threats to existing residents due to rising housing costs
  • Need to increase impact and deploy capital more effectively
Mitigation Strategies
  • Established three key Strategic Imperatives centered on Impact, Leadership, and Culture
  • Plans to significantly grow impact through increased provision of equitable capital
  • Intends to take leadership in solving community problems through collaboration
  • Intends to build a unified culture focused on results and compassion
  • Community Land Trust Pilot Project
  • B Corp certification to provide framework for measuring success against mission-aligned values

Supply Chain Management

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: B Corp

Certifications: B Corp, EarthCraft (for Church Street Station Studios)

UN Sustainable Development Goals

  • Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2018

Environmental Metrics

ESG Focus Areas

  • Economic Equity
  • Community Development
  • Affordable Housing
  • Education
  • Small Business Support

Social Achievements

  • Invested over $1.2 billion in community development, creating or retaining over 19,300 jobs and financing nearly 7,900 units of affordable housing.
  • Supported numerous community organizations such as Bread for the City, Martha’s Table, and various charter schools.
  • Partnered with organizations to build and renovate community facilities including THEARC, Thurgood Marshall Academy, and the Tivoli Theatre.
  • Became DC’s first Certified B Corp bank.

Governance Achievements

  • Appointed The Honorable Marie C. Johns as the new Chair of the Board.

Climate Goals & Targets

Environmental Challenges

  • Racial wealth gap in DC.
  • Gentrification and displacement of low-income residents.
  • Lack of access to capital for underserved communities.
  • Need for affordable housing and community services.
Mitigation Strategies
  • Providing loans and New Markets Tax Credits (NMTC) to support affordable housing, community facilities, and small businesses.
  • Partnering with community organizations to address specific needs.
  • Developing innovative financing models such as the shared-appreciation model for affordable homeownership.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: B Corp

Awards & Recognition

  • Top 10% of B Corps in the world