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Environmental

Building a more sustainable business.

Establishing a sustainability foundation

We consider today’s business climate a call to action as we continue our deep commitment to environmental sustainability. As a result, we are taking steps in what will be a multi-year transformation of how we do business. Flagstar’s environmental sustainability program aims to meet the needs of our customers, the communities we serve, and our teammates while also reducing our environmental impact.

Flagstar’s sustainability foundation is built upon three pillars, each with climate and environmental elements that assist in transitioning to a low-carbon economy.

1

Reducing the environmental impact of our business

2

Creating a company culture committed to sustainability

3

Developing sustainable products and services to meet customer needs

Operational sustainability

Flagstar cares about our environmental footprint. In 2023, we developed additional programs and initiatives to further our sustainability program and minimize our overall environmental impact. The ESG and Sustainability team added a new ESG manager and intern to focus on environmental sustainability. Additional notable milestones in 2023 include the following:

  • Publishing our first Environmental Statement and Environmental Goal
  • Flagstar is proud to announce that we accomplished our initial environmental goal and reduced our operational energy consumption and Scope 1 & 2 GHG emissions both by approximately 34% since 2019. Flagstar is currently assessing a new GHG and energy consumption goal, as well as additional environmental metric goals, to continue our operational sustainability journey.
  • Enhancing data collection efforts around energy, water, and waste to report our environmental footprint for the entire operations of the bank, which now includes legacy Flagstar, New York Community Bancorp properties, and certain Signature Bank properties
  • Improving energy efficiency within our operations through LED retrofits, HVAC upgrades, energy-saving smart technology, upgraded insulation, and remote property monitoring projects
  • Expanding our ESG and sustainability products and service offerings across multiple industries to assist our clients with the transition to a low-carbon economy with over $198 million in origination of ESG-related transactions

To learn more about our commitment to operational sustainability and engagement throughout the organization and our overall environmental metrics, see our latest ESG Report. 

Climate change

Climate change has far-reaching impacts on the world and the economy at large. To promote our mission to excel in all we do for all we serve, we are laying the foundation for integrating climate-related risk considerations into our strategies and operational resiliency. We’re also acquiring data and developing the tools necessary for more comprehensive climate risk assessments. Flagstar has published a  Task Force on Climate-Related Financial Disclosures Report and conducted a climate change scenario analysis that further discusses how we manage such risks and opportunities. You can find additional details in our latest ESG Report.

Our 2023 ESG Report

Flagstar’s annual ESG Report includes information regarding our corporate responsibility efforts and ESG performance throughout 2023.

View the 2023 ESG Report
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