Bank / Credit Union

Signature Bank to support climate-related financial disclosures taskforce

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September 14, 2022

Signature Bank, based in New York, has announced it is a supporter of the Task Force on Climate-Related Financial Disclosures, a force established by the Financial Stability Board in 2015.

This group, which consists of 3,400 supporters, aims to help companies disclose climate-related risks and opportunities, according to a press release.

By supporting this group, the bank aims to increase its transparency and allow stakeholders to see the risks of climate change compared to Signature Bank's business model.

"Since our inception 21 years ago, this institution has been focused on ensuring its lending practices and all we do positively impacts the communities we serve. The adoption of our purpose statement, 'Looking Forward. Giving Back,' is our way of articulating these core values, including transparency for all stakeholders," Scott Shay, co-founder and chairman of the board, said in the release. "Given our rapid rate of growth during the past two years, we are making significant headway as evidenced by the TCFD-designed disclosures to better inform our investors, clients and colleagues about the bank's dedication to climate-focused initiatives."