SANTA CLARA, Calif., Jan. 10, 2022 /PRNewswire/ -- Silicon Valley Bank, the bank of the world's most innovative companies and their investors, today announced it has committed to provide at least $5 billion by 2027 in loans, investments and other financing to support sustainability efforts and the company has set a goal to achieve carbon neutral operations by 2025.
"Our ability to make a meaningful difference for people and the planet, and to address the systemic risk that climate change presents, is magnified by the outsized impact our innovative clients make," said Greg Becker, CEO, Silicon Valley Bank. "Over the last 12 years, our Climate Tech and Sustainability and Project Finance teams, for example, have supported hundreds of companies that are working to accelerate the transition to a more sustainable, low carbon world."
SVB's sustainable finance commitment aims to support companies that are working to decarbonize the energy and infrastructure industries and hasten the transition to a sustainable, net zero emissions economy in several related sectors:
- Circular economy
- Climate resilience
- Energy efficiency and demand management
- Green buildings
- Renewable energy, energy storage and grid infrastructure
- Sustainable agriculture and alternative foods
- Sustainable transportation
- Technology solutions that mitigate greenhouse gas emissions
- Waste management and pollution control
- Water technology
View SVB's Sustainable Finance Commitment here.
SVB's Project Finance team specializes in construction financing, back-leverage debt financing and syndication financing. SVB's Climate Tech and Sustainability team works with hundreds of companies across sectors innovating for positive environmental change. Based on SVB's new commitment, the company is prepared to invest in the expansion of its platform including lending and investing to accommodate and serve even more clients and climate-positive projects in the coming years.
View SVB's Future of Climate Tech report here.
SVB is also committed to reducing its own emissions and is taking steps to achieve carbon neutral operations, including business travel, and 100% renewable electricity by 2025.
For more information and to read SVB's full 2021 Corporate Responsibility report focused on SVB's environmental, social and governance (ESG) practices, please visit https://www.svb.com/about-us/living-our-values
About Silicon Valley Bank
Silicon Valley Bank (SVB) helps innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com. SIVB-C
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including but not limited to SVB's efforts, commitments and objectives in relation to sustainable finance and managing risks associated with climate change. Forward-looking statements are typically identified by words such as "believe," "expect" "aim," "commitment," "goal," "achieve," "accelerate," "support," "address," "anticipate," "intend," "potential," "target" or "estimate," by future conditional verbs such as "will," "would," "should," "could" or "may" or by variations of such words or similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time, and could cause actual results and events to materially differ from such forward-looking statements. Among those risks and uncertainties are risks related to SVB's business, including those described in SVB's reports filed with the U.S. Securities and Exchange Commission, as well as unexpected delays or expenses associated with executing against SVB's climate-related commitments, and the quality and availability of carbon emissions data, among other factors. Forward-looking statements speak only as of the date they are made and we assume no duty to update forward-looking statements.
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SOURCE Silicon Valley Bank