Submitted by M&T Bank
Company Sets a Goal of Operating Solely on Renewable Power by 2030 and Achieving Carbon Neutrality by 2035
Aligns Reporting for the First Time with the Recommendations of the Taskforce for Climate-related Financial Disclosures (TCFD)
BUFFALO, N.Y., April 26, 2022 /CSRwire/ - M&T Bank Corporation today released its 2021 Environmental, Social, and Governance (ESG) Report, Together We Can. The second annual report highlights the progress the company has made toward its commitments since last year’s inaugural report, including setting a goal of operating solely on renewable power by 2030 and achieving carbon neutrality by 2035.
“As a bank for communities, we understand the unique needs of our customers and communities and our ESG commitments provide significant support to improve the quality of their lives,” said René Jones, M&T Chairman and CEO. “We are proud of the progress that we have made, but mindful that we have much more to do. We are building a sustainable infrastructure that supports our ESG initiatives, while partnering with like-minded organizations to form coalitions that are equal parts inclusive, diverse, and transparent. Together, we will make great strides toward solving the pressing issues affecting our communities and our country.”
“Together We Can” ESG Strategy
M&T’s report is guided by key ESG frameworks, notably the Sustainability Accounting Standards Board (SASB), World Economic Forum’s Stakeholder Capitalism metrics, and the Task Force for Climate-related Financial Disclosures (TCFD). The expanded approach reflects M&T’s mission to foster inclusion, create transparency on climate, and support the vulnerable in its communities.
Over the past year, M&T also partnered with coalitions and organizations to expand its work, including:
Additionally, the report includes a new ESG Index, which discloses key areas of ESG performance and transparency on M&T’s diversity, equity, and inclusion efforts, including data on hiring and promotion.
2021 Progress and Commitments
A summary of M&T’s overall progress can be found below. This includes the bank’s unique work in affordable housing and creating multicultural centers for customers, as well as M&T’s new goals of achieving carbon neutrality by 2035 and operating solely on renewable power by 2030.
Erin Komorowski Appointed Head of ESG Office
M&T also today announced the appointment of Erin Komorowski as Head of M&T’s ESG Office. John D’Angelo, Executive Vice President and Director of ESG, retired from M&T as of April 1, 2022 after 35 years with the Company. Komorowski previously served as Group Vice President of ESG for M&T Bank.
“I am excited to continue to build on M&T’s legacy of building up our communities through these meaningful initiatives,” said Komorowski. “The benefits of our ongoing commitment to sustainability and ESG are clear. We know meaningful partnerships, stronger governance, more ambitious diversity goals, and transparent climate metrics not only prepare us for the risks and opportunities ahead, but also make the communities where we live and work even stronger.”
To learn more about M&T’s approach to ESG and to download a copy of the report, visit https://www3.mtb.com/esg.
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information on M&T Bank, visit www.mtb.com.
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© 2022 M&T Bank. Member FDIC.
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.
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