Writer: Guest

The Banking Sector is a Steadfast Leader in Sustainability Practices, with Flagstar Bank at the Forefront

2
EV CHARGING, FLAGSTAR BANK INITIATIVE
Published On July 10, 2023

BETH CORREA, DIRECTOR OF CORPORATE RESPONSIBILITY, FLAGSTAR BANK, AND A LEADERSHIP COMMITTEE MEMBER FOR SUSTAINABLE BUSINESS NETWORK DETROIT

Flagstar Bank understands that environmental concerns have far-reaching implications for society and businesses alike. By prioritizing sustainability, we demonstrate our commitment to mitigating our environmental impact. In 2022, we hired an ESG/Sustainability Director, Kirby Brendsel, in order to streamline and enhance our sustainability strategy as well as to build out our broader ESG efforts. This dedicated role ensures that environmental considerations are integrated into the bank’s strategies, policies, and operations. Kirby brings many years of experience in the ESG/Sustainability space. As part of his role, he oversees the implementation of sustainable practices such as reducing energy consumption, minimizing waste generation, and promoting eco-friendly initiatives.

ADOPTING SUSTAINABILITY PRACTICES

Adopting sustainable practices—and developing sustainable products and services that meet customers’ needs—can significantly enhance Flagstar’s corporate reputation. In an era where customers increasingly favor socially responsible companies, sustainability initiatives can differentiate Flagstar from its competitors. By demonstrating our commitment to sustainability, the bank can attract environmentally conscious customers, employees, and shareholders who value ethical and responsible business practices. This positive focus on sustainability can lead to increased customer loyalty, brand recognition, and, ultimately, financial success.

Sustainability initiatives at Flagstar also serve as a proactive approach to risk mitigation and long-term financial stability. By identifying and addressing potential environmental risks, such as climate change impacts or regulatory changes, we can safeguard our operations and investments. Moreover, sustainable practices often lead to cost savings through increased energy efficiency, reduced resource consumption, and streamlined processes. By minimizing operational costs and creating a more resilient business model, we can ensure our long-term financial stability.

EMPLOYEES ARE KEY STAKEHOLDERS

Flagstar recognizes that employees are key stakeholders in sustainability initiatives. In late 2022, we launched an environmental/sustainability-focused Employee Resource Group named the Green Team that helps us tap into the passion and creativity of our workforce. It also serves as a platform for employees to collaborate, share ideas, and contribute to sustainable initiatives. This engagement fosters a sense of purpose and empowers employees to make a meaningful difference. Moreover, the Green Team can act as a catalyst for innovation, encouraging employees to identify new opportunities and implement sustainable solutions throughout the organization.

FINANCE INTEGRATING ESG FACTORS

The world of finance is increasingly integrating ESG factors into investment decisions. By prioritizing sustainability, Flagstar aligns itself with emerging ESG standards and meets investor expectations. Staying ahead of regulatory changes and industry trends positions us as an attractive investment option for socially responsible investors. This commitment to sustainability enhances transparency, and accountability, and ultimately contributes to long-term shareholder value.

In today’s rapidly changing world, the importance of sustainability cannot be overstated. Organizations across various sectors are realizing the need to integrate sustainable practices into their operations. At Flagstar, we recognize the significance of sustainability and are committed to incorporating environmentally responsible practices into the fabric of our organization.  Flagstar’s sustainability initiatives not only benefit the environment but also contribute to our long-term financial stability and success.

 

Be sure to subscribe to our newsletter for regular updates on sustainable business practices in and around Detroit.

  • All
  • Business
  • Community
  • Education
  • Events
Advancing Sustainability

October 7, 2025

Ann Arbor-based NSF is a 501(c)(3) nonprofit that develops public health standards and provides auditing, certification, and training across industries ranging from food and water to consumer products and manufacturing. Its work often intersects with sustainability, helping businesses measure environmental performance and verify progress toward their goals. SBN Detroit interviewed Justin Brown, senior manager of sustainability & product verification at NSF, about the challenges companies face in advancing...

Working to Build a Lower-Carbon Auto Industry

October 1, 2025

Magna International is one of the world’s largest automotive suppliers, with more than 350 manufacturing sites and engineering centers globally, including a strong presence in Southeast Michigan. The company plays a critical role in shaping the future of mobility, from advanced materials to vehicle systems, while also driving ambitious sustainability goals across its supply chain. Validated by the Science Based Targets initiative, Magna’s commitments include cutting emissions, embedding...

Michigan-Founded Tech Company, Motmot

September 26, 2025

Aging drinking water systems are one of Southeast Michigan’s most pressing infrastructure challenges. Many pipes in the region date back to World War II, built with materials now at the end of their service life. Combined with harsh freeze-thaw cycles and decades of underinvestment, the result is frequent leaks, water main breaks, and costly emergency repairs. Motmot, a startup located in Detroit, is tackling this challenge by deploying...

Prev
123