Alterna Bank
Last Rated in Nov 2024
Your bank has room for improvement on climate responsibility.
Alterna Bank is an online bank owned by Alterna Savings. Alterna Bank does not provide sufficient information on its lending activities and policies, making it difficult to accurately assess its environmental impact. Although the bank offers finance primarily to small and medium-sized companies, the lack of transparency in its operations leaves us unable to rule out the possibility of lending to fossil fuel companies.
To improve its rating, we would like to see Alterna Bank provide clearer disclosures on its lending activities and policies, especially in regards to the fossil fuel industry. The absence of green lending products and board-level governance points toward areas needing enhancement. The rating can be improved by the bank measuring greenhouse gas emissions associated with its lending and setting clear targets.
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