Clarien Bank Unveils ESG Strategy Updates
Clarien Bank announced the latest updates in its commitment to Environmental, Social, and Governance [ESG] considerations, a field they said is “quickly becoming indispensable for businesses worldwide, including those in the banking sector.”
A spokesperson said, “Recognising that adopting robust ESG practices is no longer a matter of choice but a necessity, Clarien Bank has decisively positioned itself at the forefront of this shift. The Bank’s proactive approach in integrating ESG elements into its operations is driven by a firm belief in establishing long-term corporate sustainability and resilience while fostering positive social and environmental outcomes.
“To set the stage for impactful change, Clarien Bank has successfully achieved the following milestones:
- Conducted a comprehensive baseline analysis of its Greenhouse Gas emissions to clarify the extent of emissions generated and to lay the groundwork for an effective Net Zero strategy.
- Carried out a thorough review of its governance structures ensuring alignment with best ESG practices.
- Invested in high-quality, nature-based carbon offsetting projects, which have effectively neutralized a notable portion of Clarien’s emission profile from the previous year.
“Building on these achievements, Clarien Bank, in partnership with leading BCORP Sustainability and ESG experts, Furthr, has developed a forward-looking, comprehensive ESG strategy. This roadmap delineates key elements such as:
- Development of the bank’s primary social and environmental objectives;
- Inclusive multi-departmental programmes;
- Impact-focused performance metrics [KPIs];
- Client engagement and communication efforts.
“Clarien’s ESG Strategy exemplifies the Bank’s dedication to responsible corporate practices and sustainable growth. The strategy outlines the utilisation of ESG insights in decision-making processes and the creation of initiatives that continually elevate our ESG performance.
“Anticipating the next phases of our ESG journey, Clarien Bank aims to:
- Formalise a detailed ESG policy reflective of our strategy, with objectives set for 2025.
- Launch a series of reporting and performance monitoring activities coupled with ESG focused training, commencing in 2026.
- Furthermore, Clarien Bank believes in empowering its employees with ESG expertise and has devised a comprehensive training plan to this end.
Michael DeCouto, Clarien’s EVP, Chief Digital and Marketing Officer, stated, “At Clarien Bank, our dedication to Environmental, Social, and Governance [ESG] principles is not just about adopting best practices but is a fundamental part of our mission to secure a sustainable future for all our stakeholders.”
“We look forward to meeting our ESG commitments effectively going forward, ensuring that sustainability goes hand in hand with superior client service and innovative financial solutions. Our journey towards making a significant positive impact on our community and beyond is driven by a clear strategic vision and a robust plan that aligns with global sustainability goals.”
The spokesperson said, “Another recent examples of Clarien’s ESG initiatives, include the ongoing partnership with the Bermuda National Trust to plant an array of native and endemic trees at Scaur Lodge Nature Reserve in Sandys. This collaborative effort underlines the Bank’s active role in local conservation efforts and its dedication to preserving Bermuda’s unique ecological heritage. Additionally, Clarien has also partnered with the Bermuda Aquarium, Museum and Zoo [BAMZ] in participating in a Trunk Island Volunteer Day, allowing employees to contribute to a range of conservation projects – all designed with the aim of maintaining the pristine beauty and ecological integrity of this important location in Harrington Sound.”
Henry Bishop, CEO at Furthr, said, ”A strong commitment to environmental and social governance is paramount in today’s world, and it’s inspiring to see Clarien Bank leading the way with meaningful action in Bermuda. Our partnership with Clarien in developing a comprehensive ESG strategy sets a benchmark for corporate responsibility locally. Through a collaborative effort, Clarien aims to achieve sustainable growth and deliver positive environmental impact as part of the Bank’s operations.”
Mr Bishop continued, “Beyond data and tools, the real secret to successfully delivering an ESG strategy is positive engagement and care at every level of the business. We have certainly seen this across our Clarien partnership, and it’s been personally inspiring for me to see Clarien lead the way on the island. We’re excited for our partnership to set a benchmark for corporate responsibility locally – using business as a force to both protect and improve this wonderful island for generations to come.”
The spokesperson said, “For more information on Clarien’s ongoing and future ESG activities, please visit www.clarienbank.com.”
Firms worldwide are DROPPING Environmental, Social, and Governance (ESG).
Firms worldwide are also DROPPING Diversity, Equity, and Inclusion (DEI).
Clarien is behind the times.