Stakeholder survey helps us prioritize our efforts.
In 2022, Flagstar conducted its first Environmental, Social, and Governance (ESG) Materiality Assessment. The initiative helped us identify areas that could represent risks and opportunities for the company regarding our financial, environmental, social, and corporate governance.
Flagstar surveyed over half a million stakeholders to determine which ESG topics they viewed as most important. The survey gathered feedback from a wide range of viewports: key shareholders, customers from all business lines, ratings agencies, suppliers, foundation grant recipients, business partners, community groups, local governments and municipalities, professional and trade organizations, our Board of Directors, and Flagstar employees.
Participants answered more than 20 questions about various topics, including corporate ESG governance, renewable energy, sustainable operations, diversity, equity, and inclusion, supplier diversity, technology and innovation, marketing practices, health, safety and wellness, philanthropy, and volunteerism.
Both internal and external stakeholders confirmed that ESG is important to them, citing the following as top priorities:
- Customer expectations
- Marketing and selling
- Health, safety, and wellness
- Business resilience
- Culture values
The findings from this initial assessment will help us prioritize our ESG efforts and further engage our various stakeholders on our ESG initiatives. Please note, the materiality assessment was conducted prior to the merger with New York Community Bank and the acquisition of Signature Bank. In 2023, we will be conducting an additional materiality assessment to capture stakeholders’ feedback from New York Community Bank and Signature Bank and will report an updated materiality matrix in our next ESG report.
Learn more about and view the graphical results for Flagstar’s ESG Materiality Assessment matrix.