American Savings Bank
Your bank has room for improvement on climate responsibility.
American Savings Bank is a subsidiary of Hawaiian Electric Industries, a publicly traded company.
The bank has commercial lending but it appears to be limited to small and medium-sized companies.
While we cannot rule out that some lending is to companies engaged in the fossil fuel industry, we consider this to be unlikely.
On the other hand, the bank has $147 million of clean energy and energy efficiency loans, 24% of the overall lending book at September 30, 2024.
We would like to see the bank put in place an explicit policy stating it will not lend to the fossil fuel industry.
We would also like to see it measure the greenhouse gas emissions enabled by its lending and to set science-based emission reduction targets.
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