FleetBoston Financial today announced that it is the first bank in the world to endorse the Coalition for Environmentally Responsible Economies (CERES) Principles and the United Nations Environment Programme (UNEP) Statement by Financial Institutions, considered two of the leading organizations focused on responsible environmental management. Fleet has endorsed the CERES Principles, a 10-point code of corporate environmental conduct, and the UNEP Statement by Financial Institutions, a commitment to environmental sustainability, as part of its global environmental management program.
Fleet's environmental management program builds upon the company's existing efforts, which include cost savings associated with facility management and bank operations, online initiatives, and environmental policies and procedures governing business lending decisions.
"We believe that our commitment to the environment is another way to affirm our community commitment," said Chad Gifford, FleetBoston President and Chief Operating Officer. "By endorsing the CERES Principles and UNEP Statement by Financial Institutions, as well as expanding upon our current environmental management efforts, products, and services, we improve our ability to proactively manage environmental risk and generate significant cost savings for the corporation - benefiting both the community and our shareholders."
"The Environmental Protection Agency-New England congratulates and applauds FleetBoston Financial for its environmental leadership in committing to both the CERES Principles and UNEP's Statement by Financial Institutions," said Robert Varney, regional administrator of EPA's New England office. "Fleet should also be congratulated for its efforts to implement these principles, ranging from the cleanup and reuse of hundreds of previously contaminated brownfield sites to the installation of energy efficient lighting and other conservation efforts in their buildings."

"Fleet is pleased to endorse the CERES Principles and UNEP's Statement by Financial Institutions. By working closely with these two organizations, we believe that we'll be able to further enhance our successful environmental management practice," said Helen Sahi, FleetBoston Head of Corporate Environmental Risk Management. "Fleet's environmental achievements range from facilitating brownfield transactions for customers in New England to implementing efficient energy management systems at our offices in Buenos Aires - achievements, which will be furthered through our partnerships with CERES and UNEP."

"CERES is pleased to have Fleet as an endorsing company, and we look forward to working together," said Robert K. Massie, Executive Director of CERES. "We expect that Fleet's long-standing commitment to the community and leadership position in financial services will stimulate progress and innovation throughout the industry."
By endorsing the CERES Principles and UNEP's Statement by Financial Institutions, Fleet commits to protect the environment by using resources responsibly, to audit its performance, and to communicate these results with the public. As part of efforts already underway at Fleet, the company has implemented a global procurement program, heating and energy programs, and employee health and safety programs that have resulted in significant cost savings.

FleetBoston Financial is the seventh-largest financial holding company in the United States. A diversified financial services company with assets exceeding $200 billion, Fleet offers a comprehensive array of innovative financial solutions to 20 million customers in more than 20 countries and territories. Among the company's key lines of business are: retail banking, with more than 1,500 branches and more than 3,800 ATMs in the Northeast; corporate banking, including capital markets/investment banking and commercial finance; investment services, including nationwide brokerage; and full-service banking through more than 250 offices in Latin America. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE: FBF) and the Boston Stock Exchange (BSE: FBF).

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