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