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Environmental, Social and Governance

ESG Commitment

Thomaston Savings Bank is built on integrity and reliability. We believe that creating meaningful environmental, social and governance programs will further our positive effect on the communities we serve and build upon our core mission of responding to the human and material needs of our community while improving the quality of life for our neighbors. 

ESG ratings are typically used by investors to analyze a publically traded company’s non-financial risk. Since we are a mutual bank, owned by our depositors and not publically traded, we are not required to undergo ESG rating evaluations. However, we recognize the importance of ESG to members of our community and we are currently formulating our ESG strategy and framework.

We understand that a thoughtful, coordinated approach to ESG will support a healthier, more sustainable future for our customers, communities, employees and company. We believe that organizations that intentionally strive to do good in the world, also prove to do well.

What is ESG? 

ESG involves the consideration of environmental, social and governance factors alongside financial factors in an organizations operations, philosophy and actions:

  • Environmental: Green Building, Climate Change, Carbon Impact, Clean Technology, Pollution, Sustainable Natural Resources,  Water Use and Conservation
  • Social: Health and Safety, Customer Satisfaction, Community Development, Diversity and Inclusivity, Equal Opportunities, Human Rights
  • Governance: Ethical Practices, Executive Compensation, Board Diversity, Compliance, Board Independence