Androscoggin Bank Achieves 63% Reduction in Fossil Fuel-Based Energy

Androscoggin Bank Achieves 63% Reduction in Fossil Fuel-Based Energy

As a Benefit Corporation and Certified B Corp, Androscoggin Bank is deeply committed to environmental stewardship. Recognizing our responsibility to shape a sustainable future for generations of Mainers, we embarked on a mission in 2020 to reduce our environmental footprint. Since then, we’ve made significant strides, particularly in reducing our reliance on fossil fuels, achieving a 63% reduction in fossil fuel-based energy usage for Bank Operations.

Our journey began by forming an “Environmental Stewardship Impact Team,” a group of passionate colleagues tasked with identifying and addressing our environmental impacts and opportunities. This team pinpointed three key areas for improvement: Resource Conservation, Clean Energy, and Vendor Management. By focusing on these priorities, we have implemented numerous initiatives that have significantly reduced our carbon footprint and engaged our employees in our sustainability efforts.

One of our most significant milestones was the adoption of 100% renewable energy across all our operations. In partnership with Revision Energy, a fellow B Corp, we developed a solar farm in Sidney, Maine that not only supports local clean energy jobs, but also reduces our electric expenses and carbon emissions. The solar farm eliminates approximately 1,030,000 pounds of CO2 annually, which is equivalent to preventing the burning of 52,551 gallons of gasoline.

Another key initiative was the installation of LED lighting across all our branch locations. With the support of Efficiency Maine, we replaced all traditional lighting fixtures with energy-efficient LED lights. This project has resulted in significant energy savings, reducing our usage by 106,000 kWh annually and cutting down on our energy costs. Additionally, we were able to support Snow’s Electric, a trusted local, women-owned business, through this project.

Finally, we have launched a comprehensive waste reduction program and expanded our recycling efforts to include comingled recycling, batteries, paint, and e-waste. These efforts not only help conserve resources but also foster a culture of environmental responsibility among our employees.

While we celebrate these achievements, we also acknowledge the challenges ahead. Addressing indirect emissions that come from areas such as our supply chain, our loan book or employee commuting, will require further collaboration and innovative solutions. We are committed to continuing our efforts and plan to begin this work in 2025.

In the meantime, we believe in sharing our story, including both our successes and challenges, to inspire others to embark on their own sustainability journeys. We invite you to join us in celebrating our achievements and to learn more about how you can contribute to a cleaner, greener future.

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