Ira Robbins ’05, CEO and Chairman, Valley National Bank
We are proud of our accomplishments and approach to sustainability in our communities. Our philosophy for the global perspective of environmental, social, and governance (ESG) framework remains one of proactivity versus mere compliance, maximizing our positive impact for economic empowerment and growth across a wide geographic footprint.
At Valley, we were the first among our peers to issue a sustainable financing or green bond last September for $150MM. We invested 100% of those funds by supporting renewable energy projects (solar), clean transportation, workforce housing, and affordable housing, including projects that house developmentally disabled individuals. We have financed many other ESG-related projects beyond our green bond, including the financing of almost 1,700 electric vehicles (EVs) and hybrids for a total of $52MM in auto loans over 2022 and through June 2023. Moreover, we continue to explore opportunities to fund equipment, property, and working capital to assist clients in reducing their physical climate and carbon transition risks. We made a significant investment in constructing our new headquarters in Morristown, NJ, earning Leadership in Energy and Environmental Design (LEED) gold certification. The LEED program is the world’s leading green building project and performance management system. By designing our building to meet high-level standards, we are showing our commitment to operate our headquarters in an environmentally and socially responsible, healthy, and prosperous environment, improving the quality of life for our associates and stakeholders.
“Valley is committed to community development because it advances people, places, and economies.”
Valley is committed to community development because it advances people, places, and economies. Our strategy is based on our strategic pillars of relentless customer focus, deepening relationships, and strengthening our communities. This strategy also aligns with our corporate and social responsibility pillars:
- Inspiring Innovation and Entrepreneurship
- Stimulating Economic Development
- Promoting Affordable Homes
- Living Our Commitment to Impactful Local Leadership
In 2022, Valley had investments worth over $400 million across its communities supporting affordable housing, economic development, revitalization/stabilization, and community services.
The company prioritizes lending to minority and women-owned businesses with products and educational programs for financial literacy, increasing our positive impact and improving access to economic opportunities.
Valley has also created products to deepen outreach to under-banked individuals (including students) and provide safe access and affordable banking services. Additionally, we have developed specialty checking accounts and facilitated numerous presentations and community outreach with information to further financial capacity and access to banking.
Our associates are our greatest assets and our people represent the diverse and vibrant communities we serve. At Valley, we embrace and value our inclusive culture of belonging that celebrates unique perspectives and experiences. We are committed to this inclusive culture, thereby fostering an environment where authenticity thrives and every voice is both heard and valued—inevitably leading to innovation, engagement, and positive business results. Unequivocally, Valley’s vision for the future is built upon diversity, equity, inclusion and belonging. Our Associate Resource Group (ARG) Program drives this culture. Six ARGs serve as our culture carriers for the LGBTQ+ community, as well as the disabled, women, Black, Hispanic, and Asian communities; we have approximately 1,600 ARG members. Each ARG provides educational resources for our associates to learn about, champion, and celebrate the unique individuals and communities that make up the Valley fabric.
We also offer one of the top internship programs in the United States. Our award-winning Valley Internship Program (VIP) places interns in corporate roles where they work with a mentor and focus on professional development and community engagement, as well as impactful on-the-job project work. Our interns have been an early talent pipeline, and we have a strong record of converting our interns to full-time roles.
As we grow forward, Valley’s culture will continue to have the sustainability of our communities and associates at our core. We are exploring opportunities to fund equipment, property, and working capital to assist clients and potential clients in reducing their physical climate and carbon transition risks. Summarily, Valley National Bank is committed to reducing its carbon footprint and fostering economic and educational growth for current and future generations
