Blue Ridge Bankshares Announces Elimination of Single-Use Plastics By 2024
Blue Ridge Bankshares, Inc. (NYSE American: BRBS) has announced a commitment to phase out single-use plastics by the end of 2024, aligning with its goal of achieving carbon neutrality by 2040. This initiative is part of the Company's broader environmental, social, and governance (ESG) efforts. Additionally, Blue Ridge Bank has partnered with ChargePoint to install electric vehicle charging stations in Virginia. The Bank has also received accolades, being named the "Best Small Bank in Virginia" by Newsweek and earning a 5-star rating from Bauer Financial.
- Commitment to eliminate single-use plastics by 2024 enhances corporate sustainability image.
- Partnership with ChargePoint for EV charging stations indicates a proactive approach towards green initiatives.
- Recognition as the 'Best Small Bank in Virginia' by Newsweek boosts brand reputation.
- 5-star rating from Bauer Financial signifies financial stability and strong performance.
- None.
CHARLOTTESVILLE, Va., April 22, 2022 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (NYSE American: BRBS) (the "Company"), the holding company of Blue Ridge Bank, N.A. (the "Bank") and BRB Financial Group, Inc., announced in celebration of Earth Day that the Company intends to phase out single-use plastics as part of its commitment to carbon neutrality by 2040. This policy will transition the Company away from single-use plastic items such as beverage bottles, utensils, straws, food service ware, and other materials by the end of 2024.
The major initiative demonstrates the Company's commitment to become an impactful environmental leader in the financial industry as it continues to implement its environmental, social and governance ("ESG") efforts. The Company also launched an internal campaign to boost its recycling efforts.
The Bank is one of only nine in the United States and the first in Virginia to commit to environmental sustainability through the Net-Zero Banking Alliance (the "NZBA"). The NZBA is an industry-led, UN-convened alliance of banks worldwide, committed to aligning lending and investment portfolios with net-zero emissions.
"Plastic consumption and waste have a meaningful and sustained negative impact on our environment," said Brian K. Plum, President and Chief Executive Officer of the Company. "Phasing out single-use plastics and strengthening our recycling efforts is a quick way to establish an important win as we continue elevating our carbon-reduction work. We are committed to continued adaptation, innovation, and improvement of business practices to attain our carbon-reduction efforts on, and hopefully before, schedule."
The Bank partnered with ChargePoint, the world's largest electric vehicle charging network, to install two electric vehicle ("EV") charging stations in the greater Richmond region. The Bank is participating in ChargePoint's Smart Charging Infrastructure Pilot Program (SCIP), which supports EV adoption in Virginia.
The Bank was named the "Best Small Bank in Virginia" in Newsweek's ranking of America's Best Banks 2022. Newsweek's ranking recognizes the financial institutions that best serve their customers' needs in each state. The Bank was recognized as the #1 small bank in Virginia. Additionally, the Bank recently received a 5-star rating from Bauer Financial, the nation's leading independent bank rating firm. The 5-star rating denotes a "Superior" rating.
Blue Ridge Bankshares, Inc. is the holding company for Blue Ridge Bank, National Association. The Company, through its subsidiaries and affiliates, provides a wide range of financial services including retail and commercial banking, insurance, card payments, wholesale and retail mortgage lending, and government-guaranteed lending. The Company also provides investment and wealth management services and management services for personal and corporate trusts, including estate planning, and trust administration. Visit www.mybrb.com for more information.
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SOURCE Blue Ridge Bankshares, Inc.
