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First BanCorp, Popular Inc. release corporate sustainability reports

First BanCorp and Popular Inc. have each released their corporate sustainability reports for 2022, in which they outline their strategies for environmental, social and governance (ESG) initiatives.

“As we look ahead, we remain committed to making a meaningful impact on our employees, customers and communities, through our ESG strategy,” said Aurelio Alemán, CEO of First BanCorp, parent company of FirstBank Puerto Rico.

“At First BanCorp, assisting our clients and communities to navigate the challenges and opportunities of our rapidly changing markets is essential to our mission of enabling financial growth and economic progress,” he said. “I’m confident that we will help build a sustainable, prosperous and inclusive future for our company, our people, our customers and our communities.”

Meanwhile, Popular’s report also reiterates the organization’s commitment to the development of its employees, as well as the customers and communities it serves. 

“Our commitment to sustainability and corporate responsibility remains steadfast. We remain focused on advancing Popular’s transformation to continue putting our customers, employees and communities at the center of progress,” said Ignacio Álvarez, CEO of Popular Inc., parent company of Banco Popular de Puerto Rico.

Among the 2022 highlights, Popular stated it continues its efforts to decrease the environmental impact and increase the resilience of its operations. The company commissioned a second combined heat and power facility in one of its main buildings to reduce its carbon footprint and contribute to its energy transition.

The number of branches with photovoltaic systems increased from 37 to 60, and the company provided more than $500,000 in grants to environmental organizations that promote reforestation, biodiversity and renewable energy. 

Community investments in 2022 totaled approximately $12 million, considering corporate donations and programs to promote financial inclusion and entrepreneurship. Popular also made philanthropic contributions through its corporate foundations in Puerto Rico and the continental United States.

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This story was written by our staff based on a press release.

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