Since 2017, Amalgamated is proud to be certified as a B Corporation by the nonprofit organization B Lab. The B Corporation certification is a globally-recognized distinction that highlights the work of good corporate citizens around the world. It's offered only to businesses that demonstrate a commitment to creating a more socially equitable world, including an accessible economy with opportunity for all.
Certified B Corporations (B Corps) are for-profit companies that use the power of business to build a more inclusive and sustainable economy. They meet the highest verified standards of social and environmental performance, transparency and accountability. As of 2018, there are more than 2,500 B Corps in 130 industries and 60 countries around the world. Amalgamated is honored to be the largest B Corp bank in the United States and one of the few publicly traded B Corps. The certification highlights our commitment to always play our part to help build a more equitable world in which corporations seek to benefit all stakeholders-employees, customers, society and the environment.
Here are some recent initiatives that represent our commitment to build a better world:
• We’re the first U.S. bank to endorse the United Nation’s “Principles of Responsible Banking” to build transparency and accountability in the banking sector
• We believe in an economy for everyone, not just the few, and so we work to improve access to financial services for underbanked communities by accepting the IDNYC as a primary form of identification for opening an account
• Through our 2X pledge, we’re committed to lending $700 million by 2020 to businesses and projects in clean energy, health and wellness, environmental protection and community empowerment
• We’re committed to measuring our financed emissions to align with the goals of the Paris Climate Agreement
• With our Give-Back accounts, we offer our customers the opportunity to support a good cause just by doing their everyday banking: Amalgamated will donate to a participating organization of the customer's choice an amount equal to half the interest they earn
• We are carbon neutral and we are powered by 100% renewable energy
We are honored to be recognized as a Certified B Corporation and be a part of a world-wide community including multinational corporations like Patagonia and Laureate Education to wholly owned subsidiaries like Seventh Generation to small businesses serving local communities like Equator Coffees & Teas and Helpsy. For all these reasons and more, we are proud to be America's largest B Corp bank, and to be working hard every day to help those who do good, do better.