Wednesday 12 January 2022

Silicon Valley Bank targets carbon-neutral operations by 2025

Silicon Valley Bank (SVB) has announced its ambition to achieve carbon-neutral operations by 2025.

It intends to reduce emissions across its operations, including business travel and is aiming for 100% renewable electricity during the same period.

It has also committed to provide at least $5 billion (£3.67bn) by 2027 in loans, investments and other financing to support sustainable efforts of its clients.

SVB aims to support companies that are working to decarbonise the energy and infrastructure industries and transition towards net zero emissions in sectors including circular economy, climate resilience, energy efficiency and demand management, renewable energy, green buildings, sustainable transportation and waste management, among others.

Greg Becker, CEO, Silicon Valley Bank said: “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.

“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.”