BUFFALO,
N.Y., April 30, 2024 /PRNewswire/
-- M&T Bank Corporation (NYSE: MTB) today released its
2023 Sustainability Report, Committed to our Communities.
This fourth annual report highlights the progress the company has
made toward its sustainability goals including environmental and
social finance solutions for customers as well as initiatives that
support the bank's business and community relationships.
Key highlights from the 2023 Sustainable Report include over
$3.1 billion in financing aligned to
positive social and environmental impacts, including:
- $2.5 billion in Social
Sustainable Finance Loans and Investments, which includes
access to affordable housing ($1.35
billion), access to essential services ($661.9 million), access to financial services
($332.5 million), and socioeconomic
advancement and empowerment ($136.4
million).
- $670.9 million made in
Environmental Sustainable Finance Loans and Investments,
including:
- Renewable Energy: Committed to the construction,
development, acquisition, maintenance, and operation of new wind,
solar, geothermal, biomass or biogas power from waste materials,
small scale hydro, wave or tidal renewable energy generation, and
storage.
- Green Buildings: Committed to the construction, design,
development, operation, construction, materials, renovation, and
maintenance of residential and commercial real estate projects that
have received or are expected to receive third-party sustainable
certifications or verification.
M&T Bank Chairman and CEO René F. Jones said, "Making a
difference in people's lives is core to how we operate at M&T
Bank, and sustainability is a material factor in how we support
this purpose. We remain committed to investing in our communities
knowing that our 2023 achievements help position our business
better for the years ahead."
M&T Bank also achieved key milestones in diversity,
inclusion, and other initiatives that support its work with
customers and communities:
- $1.4 billion in new originations
for community development loans and letters of credit to assist
small business and nonprofit community development
organizations.
- $1.35 billion in investments,
financings, or placements related to the construction, development,
acquisition, and maintenance of affordable housing, including
multifamily projects.
- 94% participation by employees in M&T's 401(k) plan.
- 40 average hours of training per employee.
- 412 employees completed leadership development programs that
provide an immersive learning experience across all levels of the
organization.
- 55% of new hires were women and 44% of new hires were people of
color.
- 1,822 SBA 7(a) loans made in FY 2023.
- Deployed $42.8 million in capital
to Small Business Investment Companies (SBICs).
- Dedicated 249,382 hours to volunteering in our
communities.
- Contributed $53.6 million through
the bank and the M&T Charitable Foundation to 4,250 nonprofit
organizations.
Executive Vice President and Head of Sustainability Erin
Komorowski says, "At M&T, we have built our success by showing
up for our communities year after year, generation after
generation. Our sustainability initiatives help us serve a bigger
range of customers, offer them a broader set of services, and
ensure our employees have the training and the community
relationships they need to succeed in their roles."
To learn more about M&T's approach to sustainability and to
download a copy of the report, visit [mtb.com/sustainability].
About M&T Bank
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
northeastern 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 about M&T Bank, visit www.mtb.com.
Media Contact:
Frank
Lentini
(929) 651-0447
flentini@mtb.com
Equal Housing Lender © 2024 M&T Bank. Member FDIC.
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SOURCE M&T Bank Corporation