- Increased GHG emissions due to employee base growth, increased purchased goods and services, and normalized post-COVID business travel
- Limited control over power purchase agreements in some office locations
- Challenges in capturing, reporting on, mitigating, and minimizing the environmental impact of financing activities
Forbright Bank
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Forbright Bank disclosed greenhouse gas emissions of 6.2K tCO2e/year. By scope: Scope 1: 30 tCO2e/year; Scope 2: 87 tCO2e/year; Scope 3: 6.1K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
6.2K tCO2e/year
2023
Waste
9.3K pounds/year (food waste diverted)
2023
Energy Use
299.1K kWh/year
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 30 tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 87 tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 6.1K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 6.2K tCO2e/year |
| 2022 | 4.6K tCO2e |
| 2021 | 396.8 tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Maintained carbon-neutral operations for the third year in a row
- Formalized strategy to minimize operational GHG emissions
- Avoided ~7 hours metric tons of estimated annual GHG emissions through renewable energy and energy efficiency-related projects
- Launched first Institutional Green Deposit product
🎯 Climate & Sustainability Targets
🔜 Short-term
- Achieve 100% completion of annual regulatory and compliance training by 2024
- Reach >90% of new Growth Savings depositors opted into paperless statements by 2025
📅 Medium-term
- Achieve 10 reported development training hours per employee by 2025
🌱 ESG Focus Areas
Sustainable financeLoan portfolio footprintHuman capital managementBusiness ethicsFinancial inclusionESG factors in credit underwritingCybersecurityCommunity Reinvestment Act efforts