In its efforts to continue reaffirming its commitment to developing a sustainable future, Popular today announced the publication of its 2023 Corporate Sustainability Report.
The 2023 Corporate Sustainability Report showcases Popular's significant achievements, furthering its sustainability priorities of creating opportunities, preserving the environment, and fostering trust among its stakeholders.
"Sustainability continues to be a priority for Popular. We remain focused on helping our clients achieve their financial goals, reinvigorating the local economies of the markets where we operate, investing in transformative community initiatives, and promoting the development and well-being of our colleagues," said Ignacio Alvarez, chief executive officer of Popular, Inc.
Throughout 2023, Popular's strategic focus on omnichannel offerings and a diverse range of financial services led to a substantial increase in its customer base, reaching two million unique clients in Puerto Rico alone.
Likewise, in 2023 it financed affordable housing projects in Puerto Rico, New York, and southern Florida, supporting the creation or preservation of more than 2,000 units. To promote financial inclusion in its communities, it initiated a pilot personal loan program to help build credit for women victims of domestic violence. Additionally, it launched a parametric micro insurance product for hurricanes and designated two additional branches as members of the New York State Banking Development District.
In 2023, Popular made significant strides in enhancing its value proposition and total compensation. This included over $14.5 million in salary increases and more than $3 million in continuous learning programs, such as partnerships with Ironhack and Holberton Coding School, to ensure its workforce is future-ready. The corporation also bolstered its health and wellness offerings with innovative clinical and preventive programs, including the expansion of the nutritional and psychological services in its Health and Wellness Center in Puerto Rico.
Popular has continued the transition to more sustainable operations as part of its initiatives to protect the environment. It has 62 branches and five corporate buildings equipped with photovoltaic systems. The corporation also achieved one of the most significant credit transactions in the renewable energy sector in Puerto Rico, which improves the efficiency and longevity of a solar project responsible for producing enough electricity to meet the annual needs of approximately 7,000 homes on the island.
Other aspects highlighted in the report include reinforcing cybersecurity and fraud prevention, for which customer education campaigns were conducted. Furthermore, Popular focused on promoting the two-step verification tool, with over 1.1 million customers enrolled, representing 99% of Mi Banco's active clients.
Popular's Corporate Sustainability Report demonstrates the organization's commitment to continuing as an agent of change that supports, develops, and leads initiatives for a more sustainable future.
To see the report, visit www.popular.com/en/corporate-sustainability/
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Contacts:
Natacha Vale
natacha.vale@popular.com
(787) 553-6681
Angelisse Cortés
angelisse.cortes@popular.com
(787) 202-4451