City National Bank of Florida
This brand is rated based on Banco de Crédito e Inversiones S.A
Your bank falls short in climate responsibility.
City National Bank of Florida is a financial institution based in Miami, Florida. It is owned by the Chilean bank BCI and therefore has the same rating as BCI.
At the end of June 2024 BCI had $74M of loans to companies engaged in exploration of oil and gas, representing about 7% of BCI's commercial lending. This is despite the company's policy of not lending to the fossil fuel sector.
BCI does provide lending to renewable energy projects and has green products such as loans to purchase EVs but the relative size of this lending vis-a-vis fossil fuel lending is not clear.
Last reviewed:
Financial institutions in this category have shown a weak commitment to environmental sustainability and transparency.
If they engage in energy financing, they are likely to lend far more to fossil fuels than renewable sources. They may have limited or no effective policies to improve their climate impact and may lack meaningful targets for reducing the emissions they are responsible for.
While they might show some engagement in sustainable practices or offer certain green lending products, these efforts are insufficiently developed or prominently displayed to make a significant impact.
Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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