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Valley Bank Issues First Annual ESG Report Highlighting Social Progress and Environmental Impact
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NEW YORK--(BUSINESS WIRE)--
Valley National Bank (NASDAQ:VLY) has issued its first annual Environmental, Social and Governance (ESG) report which highlights the Bank’s cultural and social progress and its focus on the risks and opportunities of climate change. The report covers the work accomplished in 2020 and first half of 2021 and represents Valley’s mission to promote inclusive economic opportunity, growth and positive societal impact. It also reinforces Valley’s commitment to SASB and TCFD frameworks. The full report can be found at www.valley.com/ESG.
Highlights include:
Valley’s social impact, including DEI initiatives, community engagement, investment and philanthropy as well as support for affordable housing
Valley’s environmental impact, including climate mitigation lending
Valley’s governance impact, including governance and oversight of ethics, data privacy, cybersecurity and other ESG-related factors
“Our first annual ESG Report highlights how Valley continues to make strides in its efforts to have a positive impact on the communities we serve and in the world in which we live,” commented Ira Robbins, Valley Bank CEO. “We recognize the critical role we play and the unique opportunity we have to create a socially responsible and sustainable future. That’s why we’ve dedicated our resources and leaders to making ESG a priority at Valley.”
In early 2021, Valley created an ESG Council to bring together the Bank’s various business lines to strengthen its ESG efforts, raise awareness of the impact of climate change and collaborate on opportunities to mitigate its effects.
“Valley recognizes that climate change is one of the world’s most pressing issues and we are committed to understanding how it may influence the risks we identify and manage,” Robbins stated. “We are implementing programs to better understand climate-related risks and how they impact our funding and capital management practices.”
About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $41 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com.
