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ENVIRONMENTAL SUSTAINABILITY

Banks must play a role in financing sustainability

Banks finance projects that impact climate change, for good and for bad. We take our corporate responsibility seriously. That’s why Bank of the West, along with our parent, BNP Paribas, has some of the most restrictive financing policies to protect our planet.

To demonstrate how serious we are about positive environmental change, the BNP Paribas Group is:

Neither BNP Paribas nor Bank of the West has provided financing for any new coal-fired power plant or coal mine since 2017. Further, the BNP Paribas Group is one of the only international banking groups to announce exit deadlines for thermal coal by 2030 in the United States, European Union and other Organization for Economic Cooperation and Development (OECD) countries, and an exit from non-OECD countries in the BNP Paribas Group by 2040.

Slide 1

In 2020, Bank of the West announced an update to its financing policies to exclude any exploration and production of oil and gas located onshore and offshore in the Arctic Circle. We are also the proud signatory of a January 2021 letter calling for federal action to stop all oil and gas activities in the Arctic National Wildlife Refuge protection.

Slide 2

In 2021, BNP Paribas Group instituted a new global agriculture financing policy to help combat deforestation, particularly in Brazil, which has seen devastating impacts recently. It requires clients producing or buying beef or soybean from the Amazon and Cerrado to demonstrate progress towards traceability in beef and soy supply by 2025.

Slide 2

BNP Paribas Group more than doubled its financing of renewable energy since 2015 with Bank of the West committing to finance $1 billion over five years to encourage energy transition. We met this goal ahead of the five year period in 2021.

Accelerating its Exit from the Coal Industry

Accelerating its Exit from the Coal Industry

Neither BNP Paribas nor Bank of the West has provided financing for any new coal-fired power plant or coal mine since 2017. Further, the BNP Paribas Group is one of the only international banking groups to announce exit deadlines for thermal coal by 2030 in the United States, European Union and other Organization for Economic Cooperation and Development (OECD) countries, and an exit from non-OECD countries in the BNP Paribas Group by 2040.

Banning Oil & Gas Financing in the Arctic National Wildlife Refuge

Banning Oil & Gas Financing in the Arctic National Wildlife Refuge

In 2020, Bank of the West announced an update to its financing policies to exclude any exploration and production of oil and gas located onshore and offshore in the Arctic Circle. We are also the proud signatory of a January 2021 letter calling for federal action to stop all oil and gas activities in the Arctic National Wildlife Refuge protection.

Combating Deforestation in Brazil

Combating Deforestation in Brazil

In 2021, BNP Paribas Group instituted a new global agriculture financing policy to help combat deforestation, particularly in Brazil, which has seen devastating impacts recently. It requires clients producing or buying beef or soybean from the Amazon and Cerrado to demonstrate progress towards traceability in beef and soy supply by 2025.

Increasing Financing for Clean Energy & the Environment

Increasing Financing for Clean Energy & the Environment

BNP Paribas Group more than doubled its financing of renewable energy since 2015 with Bank of the West committing to finance $1 billion over five years to encourage energy transition. We met this goal ahead of the five year period in 2021.

BNP Paribas Group’s financing policies restrict financing in other areas we believe to be harmful to people and the planet, such as: big tobacco, fracking, shale and tar sands, palm oil production, wood pulp production, and other areas.

We’re reducing our environmental footprint

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The BNP Paribas Group, which includes Bank of the West, has been carbon neutral in its operations since 2017.

And we’re committed to staying that way through management of our greenhouse gas emissions. At Bank of the West, we continue to work on efficiency measures in our operations, workspaces, and buildings while also purchasing renewable energy certificates. BNP Paribas offsets any residual gas emissions generated during the previous year for the BNP Paribas Group as a whole.

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Environmental Footprint

Paper Use

Traditionally, banking is a paper-intensive industry. We are working to reduce our paper use and move to digital options.

From 2012 to 2020, Bank of the West has decreased our paper consumption by 67%. We are also working with our suppliers to primarily offer responsible or recycled paper for when digital alternatives are not an option. As of 2020, 82% of our paper was from recycled or Forest Stewardship Council-certified responsibly sourced paper.

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ENVIRONMENTAL FOOTPRINT

Single-Use Plastic

We’re working to eliminate single-use plastic in our office kitchens and marketing supplies.

With over 500 branches and offices, and almost 10,000 employees, Bank of the West can make an impact by evaluating its purchasing catalogs. We recently removed single-use plastic marketing items and are replacing single-use plastic cups, plates, and cutlery products with compostable versions.

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ENVIRONMENTAL FOOTPRINT

Electronic Waste

Electronic waste (e-waste) can have a large negative impact on our environment.

The Environmental Protection Agency estimates that over 2.7 million tons of electronic goods are produced, but only a little more than a third are recycled. To mitigate these impacts we reduce, reuse and recycle electronic hardware whenever possible. In 2020, Bank of the West reused or recycled over 7,200 hardware products resulting in an estimated 131,600 pounds being diverted from landfills.

e-waste bins
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ENVIRONMENTAL FOOTPRINT

Energy Use

We continually evaluate the energy consumptions of all of our office and branch locations to make them as efficient as possible.

Bank of the West is completing a LED lighting retrofit project across our Nebraska campus to reduce electricity consumption by more than 50%, and is piloting a branch exterior lighting program which is expected to reduce electricity consumption by 60%.

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ENVIRONMENTAL FOOTPRINT

Upcycling

We are coating Bank of the West’s advertising billboards with a ‘smog-eating’ coating (a nanoparticle coating that has the ability to decompose organic compounds, odors, and most airborne noxious substances). Additionally, we have begun to upcycle vinyl from billboards into backpacks for Bank employees.

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We’re helping to sustain the health of our ecosystem with beehives

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Urban Beehives

Bank of the West is repurposing unused spaces on the rooftops of our office buildings in San Francisco and Los Angeles for beehives that pollinate the flora that surrounds these urban areas. Urban beehives help to sustain the health of our ecosystem by cleaning the air, stabilizing soil quality and supporting biodiversity.

We offer products that help our customers make more sustainable choices

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1% for the Planet Checking Account

Climate change is one of the most pressing issues of our time, but people don’t know how they can really make a difference. So, Bank of the West launched the 1% For the Planet with Any Deposit Checking Account, a first-of-its kind checking account, that features a carbon calculator on its mobile app to estimate the carbon impact of purchases, and donates 1% of the net revenues generated from these accounts to environmental nonprofits through the 1% for the Planet organization at no cost to customers.footnote1

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one percent app
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HELOC Energy Efficient Discount

We’re encouraging consumers to make energy efficient upgrades to their homes. Bank of the West offers a discount to our standard Home Equity Line of Credit (HELOC), which discounts interest rates when consumers use a portion to finance eligible renewable energy improvements for their home.footnote2

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Impact Solutions

Bank of the West helps our clients activate their vision for change by integrating traditional investing with social responsibility.footnote3 Through our curated menu of Purpose-Driven Investments, we aim to achieve social and sustainability objectives, along with financial returns, so that clients can grow their assets while driving meaningful change.

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Our collaboration with nonprofits helps preserve our world for future generations

Bank of the West provides grant support to nonprofit organizations that address pressing environmental issues related to the ocean, clean energy, and sustainable food systems.

We’re proud to protect our natural environments through key memberships

1% for the planet sponsorship
Partnerships

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1% for the Planet is a global movement inspiring businesses and individuals to support environmental solutions through membership and everyday actions. It brings dollars and doers together to accelerate smart environmental giving
1% for the planet sponsorship
The conservation alliance sponsorship
Partnerships

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The Conservation Alliance harnesses the collective power of business and outdoor communities to fund and advocate for the protection of North America’s wild places
The conservation alliance sponsorship

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