Better Health for All

Amalgamated Bank's core banking services are generally health-neutral, with 0.2% of loans dedicated to Health & Wellness in 2023.

The bank affirmatively does not lend to companies involved in industries with well-established negative health outcomes, such as alcoholic beverages, gambling, and tobacco products. The bank launched a Critical Reproductive Access Fund (CRAF) to support organizations responding to the abortion access crisis, and will cover travel and childcare expenses for employees and dependents needing out-of-state reproductive healthcare. The bank offers paid family leave, including parental and family care leave, up to eight weeks, and financial support for adoption, surrogacy, or fertility treatments. During the COVID-19 pandemic, the bank launched the Frontline Workers Fund with an initial contribution of $50,000. The bank does not lend to companies involved in animal testing or human embryonic stem cell and fetal tissue research.

Fair Pay & Worker Respect

The CEO's pay ratio to median employee pay was 52:1 in 2024, with the median employee pay at $102,995.

Employee feedback on Glassdoor indicates an average rating of 2.5 out of 5 stars from 113 reviews, with 30% of employees recommending working at the bank and 37% approving of the CEO. The company is facing lawsuits from three former employees. A new collective bargaining agreement with OPEIU, Local 153, AFL-CIO, covers office and clerical employees until June 30, 2026, and includes a 3.5% annual wage increase. A healthcare reimbursement account (HRA) has also been established.

Kind to Animals

Amalgamated Financial Corp. operates as a financial services company, specifically a bank. Its core business model does not involve activities such as product manufacturing, animal testing, animal husbandry, or sourcing of animal-derived ingredients. The provided articles focus on the bank's general ESG performance, including B-Corp certification and climate-related funding, but explicitly state a lack of data directly related to animal welfare, animal testing, or ethical sourcing practices.

Therefore, all KPIs related to direct animal welfare practices are not applicable to its direct operations, and no evidence is provided regarding indirect impacts through its lending or investment portfolios.

Planet-Friendly Business

Amalgamated Financial Corp. reported total Scope 1, 2, and 3 greenhouse gas emissions of 5,012,009.1 tCO2e in 2023, with public disclosure covering all scopes and a category-level breakdown for 9 out of 15 Scope 3 categories.

The company's overall emissions reduction target of 49% by 2030 (from a 2020 baseline) and absolute zero emissions in direct operations by 2030 are validated by the Science Based Targets initiative (SBTi) and aligned with a 1.5°C scenario. Amalgamated Bank is powered by 100% renewable energy in its corporate offices, achieved through PPAs and renewable energy credits, and has maintained this for seven consecutive years. All of Amalgamated Bank's offices work to attain a 75% or higher waste diversion rate. It purchases high-quality carbon removal credits for unavoidable Scope 1 and 2 emissions from the Boone Appalachian Improved Forest Management Project. Climate solutions funding grew 240% to $2.2 billion by 2023, representing 39.2% of lending and select securities. The company provides a category-level breakdown for 9 out of 15 Scope 3 emissions categories. Amalgamated Bank reported no environmental fines in 2024. The company has a net-zero emissions target by 2045 across all activities. Its reports include a TCFD Index and discuss governance, strategy, risk management, and metrics & targets in alignment with TCFD recommendations. The bank models decarbonization strategies and policies using the IEA Energy Technology Perspectives scenario and considers a 2°C-or-lower scenario. It states it does not face significant transition risk due to its low carbon portfolio. The bank has no operations in areas with high water stress. In 2023, Amalgamated Bank affirmatively did not lend to or have exposure to companies involved in deforestation. It has piloted a fossil fuel-free portfolio series addressing the intersection of climate and racial justice impacts. The bank's PACE financing supports storm-hardening improvements.

Safe & Smart Tech

The company has reported no specific data breach incidents or unauthorized data use incidents.

It maintains an Information Security Awareness Program with mandatory training for employees. The company conducts vulnerability assessments, threat modeling, stress testing, and third-party assessments for vulnerability management, alongside periodic assessment and testing of security policies and practices. Access controls are in place, and the company states compliance with NYDFS regulations and other applicable industry standards.

Zero Waste & Sustainable Products

Amalgamated Financial Corp. implements multiple waste reduction initiatives, including promoting digital communication, double-sided printing, buying in bulk, composting food and plant discards where available, and utilizing resource-efficient products in its workplaces.

The company ensures proper disposal and recycling of hazardous materials from all offices, such as e-waste, batteries, CFL light bulbs, fluorescent tubes, printer and toner cartridges, aerosol cans, toxic soaps, bleach, and glues. It has not incurred any environmental fines or hazardous discharges into air, land, or water in 2023 and 2024. The company has set company-wide waste reduction targets to achieve an overall 49% reduction of total direct and indirect emissions (Scope 1, Scope 2, and Scope 3) by 2030, against a 2020 baseline, and to reach absolute zero emissions in direct operations (Scope 1 and Scope 2) by 2030. Amalgamated Bank also has waste requirements for its suppliers, preferring vendors who provide organic, non-GMO, local food and utilize waste reduction methods.