SAN FRANCISCO—New Resource Bank (OTCBB: NWBN) is pleased to announce its 2013 sustainability report, Banking for the World We Want. The report, the bank’s first, covers 2012 data. It is available online here, and in print by request.
“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,” said New Resource President and CEO Vince Siciliano. “This report describes that approach and provides details on our lending activities, engagement with our community, and our ongoing efforts to maintain and improve our operational sustainability.”
Highlights of the report include:
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.
Client Sustainability Assessment—One way the bank tracks the sustainability of its portfolio is through its Client Sustainability Assessment, which all new and renewing commercial lending clients complete. At the end of 2012, 104 clients had completed the assessment, which pinpoints where the borrower is on a four-level sustainability scale: Learner, Achiever, Leader or Champion. No minimum score is required, but New Resource lends only to businesses that commit to improving their operational sustainability.
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.
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.
“We look forward to building on this foundation with additional data, as well as updates on progress toward our goals, in future reports,” said Siciliano.
About New Resource Bank
New Resource Bank (www.newresourcebank.com) is the premier bank for people who are leading the way to a more sustainable world. We match an entrepreneurial spirit with a dedication to achieving environmental and social as well as financial returns. Our mission is to advance sustainability with everything we do—the loans we make, the way we operate and our commitment to putting deposits to work for good.