Banking

M&T Bank names new leader for ESG initiatives

M&T Bank has named Erin Komorowski as the new head of its environmental, social and governance office, where she will spearhead the company’s efforts to respond to climate change and increase diversity.

Komorowski is a seven-year M&T veteran who most recently served as group vice president for ESG matters. The bank’s previous director of ESG, John D’Angelo, retired last month.

“The benefits of our ongoing commitment to sustainability and ESG are clear,” Komorowski said in a press release. “We know meaningful partnerships, stronger governance, more ambitious diversity goals and transparent climate metrics not only prepare us for the risks and opportunities ahead, but also make the communities where we live and work even stronger.”

Erin Komorowski, the new head of M&T’s ESG office, is largely responsible for the bank’s recent climate-related committments, according to a company spokeswoman.

Komorowski is largely responsible for M&T’s recent climate-related commitments, including its goal to operate solely on renewable power by 2030 and to achieve carbon neutrality by 2035, according to Maya Dillon, a spokeswoman for the Buffalo, New York-based company.

Komorowski also led the bank’s efforts to align certain reporting metrics with recommendations by the Task Force on Climate-related Financial Disclosures, according to the company spokeswoman.

That task force was established in 2015 by the Financial Stability Board, which makes recommendations on the global financial system. Large banks were first to follow its framework for voluntary climate-related disclosures, but smaller banks have also started to do so.

M&T is also a member of the Risk Management Association’s Climate Risk Consortium.

In a report published last month, M&T said that it was focused on further developing its infrastructure for climate risk management. In 2022, the $149.9 billion-asset bank is working to gain a better understanding of what an energy transition that’s aligned with the 2015 Paris Agreement on climate change will look like, according to the report.

With respect to workforce diversity, M&T announced last year that it was establishing a goal of achieving gender parity in its senior management ranks. The bank also said that it was striving to diversify its ranks such that 11% of its senior managers will Black and 5% will be Latino.



Most Related Links :
honestcolumnist Governmental News Finance News

Source link

Back to top button