Amerant Bank, one of the largest community banks headquartered in Florida and the main subsidiary of Amerant Bancorp Inc., released its inaugural 2021 Environmental, Social, and Governance Report.
Amerant began developing a comprehensive ESG program last year, with the goal of identifying risks, as well as determining opportunities to make a positive impact on sustainability both in the short- and long-term.
“We are pleased to be able to share our new ESG framework and sustainability report,” said Vice Chairman, President & CEO of Amerant Bank Jerry Plush. “We conducted extensive research and considered the perspective of our diverse group of stakeholders in order to establish priorities and set measurable goals that make a real impact. At Amerant, ESG will be part of our DNA.”
The bank’s ESG report was built through surveying and vetting the perspectives of our employees, customers, market participants and community members, among others, who helped us look at all facets of our operation.
Through extensive research, Amerant determined its ESG framework, composed of key pillars. They include:
- Empowering Our People for Shared Success – Amerant Bank dedicates its time and resources to benefit its communities, ensuring it has a talented, diverse and supported workforce to bring the best service to its customers every day. In September of 2021, Amerant named a new Chief Diversity & Inclusion Officer, Kristy Amaro, and later formed a cross-functional diversity ambassador team.In alignment with Amerant’s goals of increasing representation of women in leadership and to foster inclusion for underrepresented groups, it plans to launch Team Member Resource Groups in 2022 – the first will be a group dedicated to Women in Finance.Additionally, Amerant is actively working to hire locally by partnering with government employment agencies, nonprofit partners, and universities and strengthen diversity in the hiring pipeline by ensuring diverse candidate pools and diverse selection teams.
- Promoting Economic Mobility in Our Communities – Amerant’s commitment to support the underserved communities within its footprint grows as Amerant grows. The bank expects to offer over $1B between 2021 and 2025 to these communities in loans. Recognizing that knowledge is power, Amerant also pays special attention to opportunities to develop financial literacy among community members. We believe that investing in healthy financial habits will encourage more sustainable prosperity.In 2021, Amerant committed over $490,000 in charitable giving to non-profit organizations throughout South Florida and the Greater Houston area to support affordable housing, economic mobility, financial independence, and health and social services among diverse populations.Amerant’s Microgrant Programs provided nearly $70,000 in funding to deserving small businesses in 2021, understanding that small businesses are the foundation of local economies.Earlier in 2022, Amerant CoverMe was launched, which enables domestic consumer accounts to overdraft up to $100 without a fee. Shortly after, the fee for over $100 overdrafts was reduced by more than half. Amerant seeks to be a community bank leader in this arena.
- Building Climate Resilience – Amerant recognizes that true change – addressing the unique impacts of climate change and environmental degradation, driving sustainable outcomes and financial gains – begins from the inside out. Its product teams are researching creative ways to offer environmentally conscious direct or indirect financing and investment opportunities. Amerant aspires to offer $1B of sustainable bank products by 2025, ranging from specially rated lending for sustainable home improvement to investment partnerships with sustainable service providers.Last year, Amerant added electric vehicle charging stations to its headquarters that are free of charge. Additional car charging stations are planned at other locations, including the new operations center in Miramar opening late 2022.Amerant is tackling reduction of fossil fuel consumption in various ways while also devising a plan to convert to renewable energy as quickly as possible in all facilities where feasible. In April of 2022, TXU Energy presented Amerant with a Leadership in Renewable Energy certificate for the purchase of 100% Certified Wind Renewable Energy Credits for six Amerant Banking Centers in Houston.
See related article: Bank of America Mobilized and Deployed $250 Billion in Sustainable Finance Capital in 2021
“Through our ESG framework, we are creating value for our stakeholders, our communities, and the environment,” added Plush. “The program ensures a brighter future with its comprehensive approach to sustainability.”
For the full ESG report, visit: amerantbank.com/ESG.
Source: Amerant Bank, N.A.