We’re pleased to announce New Resource Bank’s inaugural sustainability report, Banking for the World We Want.
“New Resource’s approach to banking is built on the belief that the money in our community can support what we truly value—strong local economies, a healthy environment and economic justice, to name a few possibilities,” notes New Resource President and CEO Vince Siciliano in his introductory letter. The report goes on to describe that approach and provide details on our lending activities, engagement with our community, and our ongoing efforts to maintain and improve our operational sustainability. It also features a few of our fantastic clients.
The report covers 2012 data. Here are a few highlights:
Lending—New Resource’s goal is a loan portfolio 100 percent invested in enterprises that are advancing sustainability. At the end of 2012, 74 percent of loan commitments and 69 percent of loans outstanding were mission oriented; the remainder were traditional community bank loans made to local businesses during the bank’s startup phase. Learn more
Nonprofits—Supporting nonprofits is a vital part of New Resource’s mission to advance sustainability. The bank provides discounted services, direct contributions, sponsorships and other benefits to nonprofit customers. Learn more
Environment—The bank diverted 90 percent of its waste from landfills, met its green procurement commitment, and purchased renewable energy certificates through TerraPass to offset its estimated carbon footprint of 113 metric tons per year.
Finance and governance—New Resource recorded its first full year of profitability in 2012 and has received the highest possible GIIRS (Global Impact Investing Rating System) rating of 5. GIIRS assesses the social and environmental impact of companies using an approach analogous to Morningstar investment rankings and Capital IQ financial analytics.
You can read the report on our website, download it or request a print copy—see all the options on the report’s home page