Silicon Valley Bank, a unit of SBV Financial Group undefined said Monday it plans to provide $5 billion or more by 2027 in loans, investments and other...
Silicon Valley Bank, a unit of SBV Financial Group SIVB, -0.02% said Monday it plans to provide $5 billion or more by 2027 in loans, investments and other financings for 10 types of sustainable practices. The bank also plans to become carbon neutral by 2025.
The business types targeted by the bank's climate tech and sustainability and project finance practices includes circular economy, climate resilience, energy efficiency and demand management, green buildings, renewable energy and energy storage, sustainable food, sustainable transportation, waste management and pollution control as well as water technology. Shares of SVB Financial are up 73% in the past year, compared to rise of 23% by the S&P 500.
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