CORPORATE SUSTAINABILITY

Working on behalf of the social and economic well-being of our employees, customers, and communities has been an intrinsic part of Popular’s creed since its founding.

Aware that the local and global challenges facing our communities today require a more deliberate approach than in other sectors of society, in 2019 we set out to formally establish our Environmental, Social, and Governance (ESG) priorities.

2022 Corporate Sustainability Report

ESG VISION

Doing what is right has always been an integral part of who we are.

Popular strives to put people at the center of progress and promote the social and economic well-being of everyone with whom we interact.

FOCUS AREAS

Environment

We endeavor to mitigate the impacts of climate change and create a more sustainable and resilient future.

Learn more

Social

We strive to improve the social and economic well-being of our employees, customers, and communities, while prioritizing diversity, equity, and inclusion in all aspects of the business.

Learn more

Governance

We aim to manage risk and ensure integrity across the organization.

Learn more

ENVIRONMENT

We are privileged to live and work in some of the most beautiful places on Earth.

We recognize that it is incumbent upon us to protect the land in which we live and serve. At Popular, we are committed to being part of the solutions to the challenges being created by a changing climate and are continually on the lookout for new and innovative opportunities to do our part to protect the planet.

INVESTING IN THE ENVIRONMENT

• Launched the Popular Impact Fund with an initial allocation of $15 million to invest in companies that are actively seeking and creating solutions to some of today’s most pressing social and environmental challenges.

• Since 2021, Popular has granted $1.1 million to nonprofit organizations focused on environmental conservation and restoration, through the Corporate Donations Environment Program.

• In 2022, in collaboration with local micromobility service company, Skootel, Popular sponsored the e-bicycle program biciPOP in the areas surrounding our headquarters in San Juan.

ENERGY EFFICIENCY AND CONSUMPTION

• Increased from 37 to 60 the number of branches with photovoltaic systems.

• Completed a second combined heat and power generation system for another of our main buildings, Cupey Center, located in Puerto Rico, fueled mainly by liquid natural gas enabling us to consume less fuel while reducing carbon dioxide emissions.

• Increased to 17 electric vehicle recharging stations through different facilities in Puerto Rico.

OUR WATER USAGE

• 3 branches and 1 corporate facility with rainwater harvesting systems

RECYCLING AND WASTE MANAGEMENT

• Over 90,000 pounds of electronic equipment recycled

• 253.40 tons of paper recycled

SOCIAL

We believe that investing in the places we serve is a key part of how we achieve the goal of improving our employees, customers, and community’s well-being.

Inclusive
Banking

Equal access to financial services is crucial to achieving inclusive growth and can be a catalyst in the fight to end poverty and boost shared prosperity. Our commitment to put people at the center of progress is embedded in everything we do, from our hiring and retention practices to the way we design our products and how we imagine our customer and employee experiences.

Some of the financial services available to clients are:

In 2022, Popular became the first financial institution in Puerto Rico to eliminate the charge for insufficient funds for returned transactions. We also eliminated overdraft fees on transactions of five dollars ($5.00) or less paid against insufficient funds, as well as the fees charged for maintaining overdrawn accounts. These modifications to our overdraft fees are in part the result of a multi-year strategy that began with Popular’s efforts to obtain the Bank On certification for certain bank accounts.

Financial
Growth

As a responsible banking institution, we believe that financial literacy is an important tool in helping people manage their personal finances in order to achieve their dreams.

In 2022, we facilitated

182

workshops

with

6,849

participants.

Their well-being and their families is of utmost importance to us. We strive to provide gratifying and meaningful work experience for everyone.

Diversity and Inclusion

Our diversity reflects who we are, and at Popular, we understand the value of fostering an environment in which Diversity and Inclusion Policy can flourish, regardless of our employees’ and customers’ gender, race, ethnicity, sexual orientation, age, religion, or any other factor.

Diversity and Inclusion Policy

Focus on Inclusion

2018	During 2018, Popular’s CEO reaffirmed our company’s zero-tolerance stance on harassment and discrimination. Workshops on the topic were offered to leaders in all our markets. Popular has also held various events tailored specifically for veterans and military personnel. On this front, Popular Bank in Miami was recognized in 2018 with the Patriot Award by Employer Support of the Guard and Reserve.
2019	In 2019, Popular started conducting focus groups with the goal of developing initiatives to meet the needs and interests of our employees.
2020	Popular invested nearly $400,000 in closing gender pay gaps in 2020, for a total of $2.5 million over the past nine years. As a result, our gender pay gap continues to narrow and is now lower than the nationwide median, according to data from the US Census Bureau.
2021	Popular was included in Bloomberg’s Gender Equality Index and recognized as a Great Place to Work ®for Women in Central America and the Caribbean. Updated the Gender and Domestic Violence Policy with a paid 15-day leave available for victims of gender violence, domestic violence, stalking, and/or sexual harassment. Launched the first Employee Resource Group for the LGBTQ+ community and its allies.
2022	Included for the second consecutive year in Bloomberg’s Gender Equality Index. Launched three additional Employee Resource Groups on Functional Diversity, Women, and Multicultural.

Our Employees Lead by Example

One of Popular’s central values is working together with the communities we serve.

A 70% of Popular’s workforce in Puerto Rico and a 78% in the U.S. made voluntary contributions to Popular’s foundations through recurring payroll deductions. Also, over one thousand employees participated in volunteering projects during the month of October – Embracing Puerto Rico month.

Monetary

Contribution

$866,919

with a matching contribution from Popular of $1.3 million

Volunteering

1,426

employees

7,329

hours of service

GOVERNANCE

Our Board of Directors believes that high standards of corporate governance are an essential component of the strength of our corporate culture and ensure that our institutional values are embedded in our day-to-day business operations.

Our priority topics in this area include:

• Security & Privacy focused on the management of risks related to collection, retention, and use of sensitive, confidential, and/or proprietary customer or user data.

• Corporate Governance ensuring the mechanisms to provide adequate oversight of our operations and foster an ethical environment.

How can we help you?

Most popular searches

Download the free Mi Banco Mobile app today.

CORPORATE SUSTAINABILITY

Doing what is right has always been an integral part of who we are.