Innovative company-focused financial services firm Silicon Valley Bank (SVB) announced today a new sustainable finance commitment, pledging to provide at least $5 billion in loans, investments and other financing to support sustainability efforts by 2027. According to SVB, its sustainable finance initiative aims to support companies that are working to decarbonize the energy and infrastructure industries and hasten the transition to a sustainable, net zero emissions economy in several related sectors.
SVB also announced a target to achieve carbon neutral operations by 2025.
Transactions under the new $5 billion commitment will include project finance focused on decarbonizing and enhancing climate resilience in the energy and infrastructure sectors, loans to companies developing and deploying climate solutions technologies, and direct equity investments in climate tech and sustainable solutions companies. Eligible solutions range from circular economy, energy efficiency & demand management and green buildings, to renewable energy, sustainable agriculture and water technology, among others.
Additionally, SVB stated that it plans to expand its platform over time to serve even more clients and climate-positive projects in areas including Tax Equity Investing, eligible affordable housing, and investment banking and advisory services.
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.”
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