Beneficial State Bank Lending to Support the Environment

About This Project

Summary

While the world's 60 largest banks invested $5.5 trillion in fossil fuels since the Paris Agreement, Beneficial State Bank uses its lending to advance renewable energy and environmental sustainability. The bank sees Planet Earth as a stakeholder and designs its services to generate environmental benefits. Beneficial State Bank’s Earth Services team invests in clean energy, net-zero building construction, and conservation while fully avoiding extractive and environmentally degrading sectors.

Goals & Objectives

Beneficial State Bank promotes environmental sustainability by supporting renewable energy projects and avoiding extractive industries. The bank aims to set a new standard by showing that financial institutions can divest from fossil fuels, invest in climate-friendly projects, and remain prosperous.

Results & Impact

Since 2007, Beneficial State Bank has lent $144 million to the renewable energy sector, generating more than 1.09 billion kilowatt hours of green energy. The bank also operates as fully carbon neutral by measuring its operational footprint and purchasing carbon offsets.