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M&T's 2023 Sustainability Report Highlights Progress on Customer Solutions and Key Business Goals

PR Newswire
·3-min read

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."

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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