Ponce Financial Group, Inc. (NASDAQ: PDLB), the holding company for Ponce Bank, announced that the Company has formed an Environmental, Social & Governance Committee comprised of the Executive Management Team that reports directly to the Board of Directors. The ESG Committee has adopted an ESG charter and policy to oversee and manage the Company’s ESG initiatives. The first phase of the initiative is to perform a company-wide assessment of the Company’s energy infrastructure to develop greener and greater results while optimizing cost saving measures for the Company. The Company also intends to perform a full-facility energy audit on an ongoing basis to assess and address any material gaps. The Company is fully committed to implementing the necessary steps to ensure that ESG concerns, and factors are embedded into its operating culture and delivering transparent and realistic reporting to all of its stakeholders.

The Company is also in the early stages of conducting an ESG materiality assessment to better understand how to align the Company’s strategy with ESG priorities. It is anticipated that the materiality assessment will be completed during the fourth quarter of 2022.

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President and Chief Executive Officer’s Comments

Carlos P. Naudon, President and CEO, stated that, “We are looking forward to taking this ESG journey and expect to benefit in several ways in areas such as strategy, risk management and stakeholder loyalty. We firmly believe that the ESG initiative will enhance our ability to evaluate opportunities and risks over the short and long term. Our newly appointed Executive Vice President and Chief Investor Relations Officer, Frank Perez, has been tasked with leading this initiative as part of his new role with the Company. As an MDI and CDFI, we are keenly aware that the populations we serve – underbanked and underserved – are increasingly adversely impacted by climate change and social economic developments.”  

Executive Vice President and Chief Investor Relations Officer’s Comments

Frank Perez, Executive Vice President and Chief Investor Relations Officer, stated that, “I am excited for the opportunity to lead the ESG initiative that will guide us in developing and enhancing our long-term plans for the future by aligning our activities with the ESG framework. We have already started down the path of gathering benchmarking data that will generate meaningful goals for our company and all of its employees.”

Source: Ponce Financial Group, Inc.