Silicon Valley Bank, the bank of the world’s most innovative companies and their investors, announced it has committed to provide at least $5 billion by 2027 in loans, investments and other financing to support sustainability efforts and the company has set a goal to achieve carbon neutral operations by 2025.
“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,” said Greg Becker, CEO, Silicon Valley Bank. “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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SVB’s sustainable finance commitment 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:
- Circular economy
- Climate resilience
- Energy efficiency and demand management
- Green buildings
- Renewable energy, energy storage and grid infrastructure
- Sustainable agriculture and alternative foods
- Sustainable transportation
- Technology solutions that mitigate greenhouse gas emissions
- Waste management and pollution control
- Water technology
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SVB’s Project Finance team specializes in construction financing, back-leverage debt financing and syndication financing. SVB’s Climate Tech and Sustainability team works with hundreds of companies across sectors innovating for positive environmental change. Based on SVB’s new commitment, the company is prepared to invest in the expansion of its platform including lending and investing to accommodate and serve even more clients and climate-positive projects in the coming years.
SVB is also committed to reducing its own emissions and is taking steps to achieve carbon neutral operations, including business travel, and 100% renewable electricity by 2025.
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