Climate Change Data

Environmental Metrics

ESG Focus Areas

• Social Responsibility
• Community Reinvestment
• Corporate Governance, Ethics and Risk Management
• Environmental Sustainability
• Human Capital Management
• Diversity, Equity and Inclusion

Environmental Achievements

• Recycled over 281 tons of paper, saving the equivalent of 4,708 trees and over 1,403 cubic yards of landfill space
• 57% of customers received electronic statements
• Purchased $10 million of a $125 million green bond issued by Forbright Bank to finance solar power and energy efficiency projects
• Made two new lending commitments, totaling $124 million, to construct solar energy facilities

Social Achievements

• 97% of Employees completed Diversity Training
• 2,896 Employee Volunteer Hours
• $3.5M Charitable giving to low- and moderate-income individuals, communities or small businesses
• $1B in community development lending benefiting low- or moderate-income individuals, communities or small businesses
• Increased minimum wage from $15 per hour to $18 per hour
• Launched two leadership development programs
• Originated, refinanced or purchased $812 million in loans for affordable housing, supporting the creation or retention of 4,281 housing units

Governance Achievements

• Formed an executive-level ESG committee and ESG Working Groups to provide guidance on ESG issues, establish goals, and oversee disclosures
• Added ESG to the Board of Directors Compensation, Nominating and Governance (CNG) Committee meeting agenda
• 92% Independent Directors
• 25% Female Directors

Climate Goals & Targets

Environmental Challenges

• Ongoing challenges of the COVID-19 pandemic

Mitigation Strategies

• Continued to serve clients throughout the pandemic
• Provided temperature checks, enhanced workplace cleanings, health and safety supplies, and barriers to protect staff and the public
• Provided washable cotton face masks to every employee

Supply Chain Management

Responsible Procurement

• Supplier diversity program

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB, GRI

UN Sustainable Development Goals

• Goal 7
• Goal 8
• Goal 12
• Goal 15

Various initiatives align with these goals

Awards & Recognition

• Corporate Partnership Award from Jewish Vocational Services

Environmental Metrics

ESG Focus Areas

• Climate Risk
• Greenhouse Gas Emissions (GHG)
• Environmental Impact
• Diversity, Equity & Inclusion
• Talent Management & Development
• Community Development/Reinvestment
• Responsible Lending & Financial Inclusion
• Data Privacy & Protection
• Corporate Governance
• Risk Management
• Cybersecurity

Environmental Achievements

• Committed $125MM to construct two solar projects providing 172 megawatts of clean energy capacity (total of $249MM and 348 megawatts over two years)
• Recycled over 3.5M tons of paper, equivalent to saving 7,651 trees and avoiding 25,504 pounds of landfill waste
• 20 LEED-certified locations (33% increase from 2021)
• Green Solutions for Emerging Communities grant program launched, awarding $500,000 to eight projects focused on climate change mitigation and education in LMI communities
• Provided $462.1 million in financing for 18 affordable housing projects in California FEMA-designated disaster areas
• Reduced water consumption by 20% (6.7 million gallons in 2022)

Social Achievements

• Record year in affordable housing loans, originating over $1.3 billion, leading to 3,800 new housing units (up from 1,500 in 2021)
• Cigna awarded Silver level Healthy Workforce Designation
• Employee volunteer hours increased by 34% to 2,417 (3,577 hours benefiting LMI individuals)
• Launched Employee Resource Groups (ERGs) campaign
• Invested in organizations promoting financial inclusion and access to capital for women and minority-owned businesses
• Provided $5,000 credit toward legal fees for U.N. SDG-aligned clients

Governance Achievements

• Established a comprehensive climate risk strategy
• Partnered with a third-party energy consultancy to map Scope 1 and 2 emissions
• Implemented a new process for Board evaluations with written and oral components
• Strengthened AML program with new certifications in various areas (CAMS, Global Sanctions Specialists, etc.)
• Established a new partnership for situation awareness to improve incident management and risk mitigation

Climate Goals & Targets

Environmental Challenges

• Understanding and managing climate-related financial risks
• Data security risks

Mitigation Strategies

• Developing a comprehensive climate risk strategy including climate risk controls and sustainability initiatives
• Implementing strong administrative, technical, and physical safeguards to protect personal information
• Regularly reviewing and updating security program
• Annual privacy and information security training for all employees

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier diversity program with 164 diverse business suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Wildfires, other climate-related disasters

Transition Risks

• Regulatory changes

Opportunities

• Financing sustainable technologies and businesses

Reporting Standards

Frameworks Used: SASB Commercial Banking framework

Certifications: LEED

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Other SDGs mentioned but not specifically detailed

Solar financing, affordable housing, community development initiatives

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Cigna Silver level Healthy Workforce Designation