Environment Sustainability

Webster Bank CSR Report: Environmental Sustainability

Webster Bank CSR Report

Webster Bank CSR Report – We are continuing to pursue efforts to increase operational efficiencies and reduce emissions, including increasing the amount of green energy used in our facilities. We strive to maintain low-emission and energy-efficient working environments throughout our footprint. 

We acknowledge the significance of the renewable energy transition and have been trying to enhance our use of renewable energy. We purchased renewable energy credits (RECs) in our New York market in 2022 to offset our energy consumption. RECs are certifications that indicate the environmental qualities associated with generating one megawatt-hour (MWh) of electricity from renewable sources and ensure that equal energy was produced and added to the electrical grid using renewable sources. As a result, we collaborated with Green-e to invest in these projects. 

Webster has implemented a variety of steps to reduce our environmental effect and promote environmentally friendly projects and practices, such as the ongoing digitization of administrative and operational duties. We’re also looking for and implementing software technologies to help us track and manage emissions more effectively. 

Webster Bank CSR Report

Encouraged environmentally beneficial work practices by encouraging recycling and reuse, and by continuing to deploy energy-efficient equipment and systems across our network. 

13 branches were retrofitted with energy-efficient lighting fixtures, resulting in a 248,627 kWh savings. 

150 solar arrays are now operational. 

Carbon emissions were reduced by roughly 1,200 metric tons. 

Increased usage of e-recording and e-signing technology, resulting in less paper waste and lower carbon emissions 

Process improvements have been prioritized in order to promote standardization and efficient production, which decreases material consumption and waste. 

We demonstrate our dedication to the communities we serve by financing commercial loans to businesses working in renewable energy, environmental cleanup, and energy-efficient components. In 2022, Webster Bank committed to or created loans totaling $661 million for renewable energy, environmental remediation, and energy-efficient components, primarily in Connecticut, but also in Massachusetts, New York, Pennsylvania, Florida, Georgia, South Carolina, and Washington, D.C. 

We continue to build and refine our risk management framework for measuring and managing climate-related physical and transition risks that could harm the bank’s operations and loan portfolio, co-led by our Chief Risk Officer and Chief Credit Officer.