NW Massachusetts Avenue 2122
For an eight-story midrise residential building in Ward 2, there is a $884,345 PACE loan. A yearly power savings of 170,000 kWH will result from the project.
NW 2501, Q Street
A PACE loan of $361,247 has been approved for a four-story multi-family structure in Ward 2. The project will result in yearly power consumption savings of 138,000 kWH, or 226 barrels of oil's worth of greenhouse gas emissions.
Wisconsin Avenue, NW, 3130
In Ward 3, a 9-story midrise apartment building received a $655,292 PACE loan. The project will result in yearly power savings of 90,000 kWH, or 70,000 pounds of coal's worth of greenhouse gas emissions.
Regarding Forbright Bank
Full-service bank Forbright Bank, a member of the FDIC and a fair housing lender, is taking steps to decarbonize the economy (
www.forbrightbank.com). Forbright, a financial services company with headquarters in Chevy Chase, Maryland, is dedicated to accelerating the shift to a sustainable, clean energy economy by providing funding to the businesses, investors, and innovators fueling that change. The seventh American bank to ratify the United Nations Guidelines for Responsible Banking was Forbright. Forbright has promised that by 2025, more than half of its portfolio will be allocated to renewable energy and sustainable business ventures. Forbright, Inc.'s Green Bond recently prevented the emission of an estimated 12,000 metric tonnes of carbon equivalent annually.
Our Goal
The idea that ethical banking benefits customers, businesses, and society as a whole serves as our compass. We have committed to allocating half of our portfolio towards funding sustainable and renewable energy projects by 2025, as the need to develop a more sustainable, low-carbon economic system becomes more pressing. By enabling individuals to actively fund clean energy and sustainability-focused loans through decarbonization linked deposit products, we enable them to play a crucial part in advancing the energy transition.