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A Q&A with Chris Castro, EVP, Chief Sustainability Officer
“Our focus on mission and purpose in many ways redefines what a bank can be. We didn't start the Bank just to make money. This is about changing the entire paradigm of what banking is.”
— Chris Castro, Climate First Bank EVP, Chief Sustainability Officer
Climate First Bank launched in 2021 with one purpose: to create a bank that centers the planet, people, and profit. A full-service bank with a laser focus on environmental sustainability and doing good, Climate First Bank is the fastest-growing new bank in the nation — a success that highlights that a bank founded upon a mission will not only survive but thrive.
Raising awareness about the value and critical need for impact banking, Chris Castro, Climate First Bank, Founding Director and EVP, Chief Sustainability Officer, is one of the Climate First Bank team members who regularly presents at various events. From Climate Week in NYC to the B Corp community BLD Southeast conference, the Bank’s leadership promotes its work as a scalable example of doing well by doing good. (Find a list of where we are headed in September below!)
Chris has had a distinguished career in sustainability and clean energy. Prior to joining Climate First Bank, Chris served as a presidential appointee for the Biden-Harris Administration, where he managed a $16 billion portfolio of grants and technical assistance programs at the U.S. Department of Energy. Chris co-founded IDEAS For Us, a global UN-accredited nonprofit advancing community-led sustainability projects, and started Citizen Energy, a clean-energy consulting firm specializing in green retrofits for commercial and multifamily buildings.
In this Q&A, Chris discusses why collaboration and community-building are essential elements of the Bank’s success and how the success of a mission-driven bank provides a replicable model for solutions-driven financial services worldwide.
What makes Climate First Bank unique in the world of financial services?
Our specialty in clean energy finance sets Climate First Bank apart from other banks and institutions. We focus on financing clean energy projects across the country — through our OneEthos fintech platform, by supporting clean energy contractors to simplify and streamline the financing of consumer and commercial solar projects, as well as battery storage for utility companies, and funding community solar projects, just to give a few examples.
Climate First Bank is not a conventional bank. Our focus on mission and purpose in many ways redefines what a bank can be. We didn't start the Bank just to make money. This is about changing the entire paradigm of what banking is, and using financing as a force for good in solving some of the most pressing challenges facing our communities, our country, and the World. People may think having this specific niche is limiting, but it’s actually the secret behind our success.
Why does Climate First Bank’s leadership invest so much time and energy into attending, speaking at, and sponsoring in-person events?
It’s about deepening trust and building credibility as a community-driven organization. Face-to-face interactions are the best way to foster authentic connection, and attending events gives us a unique opportunity to tell our story in a meaningful way.
It's also about living our mission and amplifying our impact through collaborations. As a bank that’s a Certified B Corporation and focused on climate and advancing clean energy, it's important that we show up in a way that embodies our social and environmental mission. Part of that is supporting our community and the organizations advancing the work.
By attending these events where we meet face-to-face with small businesses and nonprofits, we're able to connect our resources to the underserved communities these organizations support. That's where public-private partnerships really start to flourish.
Why are public-private partnerships important to fulfilling your mission?
Public-private partnerships are critical to help us leverage the Bank’s capital to make clean energy solutions accessible to a greater number of Americans. It's about driving affordability and sustainability simultaneously. As we grow, we're also driving more impact. And when we help drive local economic development and empowerment, that will help make us more successful, too.
One great example is a pilot program OneEthos recently launched through a strategic partnership with Montgomery County Green Bank, which serves over 1 million people in Maryland. The program provides loan subsidies to reduce the cost of solar panels for Montgomery County residents, specifically those in disadvantaged communities. Through the program, homeowners will be able to access solar loans with rates ranging from 0% for low-income households to 4.99%. With it, they’ll be able to achieve significant savings on their existing energy bills from day 1.
We’re working to replicate the program nationwide. Right now, I'm talking with folks in more than 20 states about how we can take that pilot and scale it, because it's working—and it's helping low-income communities access resources to make their lives more affordable, safer, and healthier.
How do programs like this help provide a template for solutions that could be scaled more broadly? How is Climate First Bank connecting with others in the community to learn from them as well?
Our mission has global implications. Our commitment to a net-zero portfolio and a decarbonized future transcends the state of Florida, the United States, or any borders. Our involvement with organizations like the Net-Zero Banking Alliance (NZBA) enables us to be part of global conversations, such as the UN’s regional roundtable on sustainable finance during Climate Week in New York. In my opinion, it's critical that a community bank like us shows up in conversations at the international level. Together, we're building advocacy and identifying best practices that are proven to work. It provides knowledge-sharing and peer engagement that helps us continue to evolve as a bank and improve what we're doing.
None of us has all the answers, but that's a reason to show up. At the end of the day, we need to amplify the fact that what we're doing is working. We want the world to know that these solutions work and that they can be replicated and scaled in other places.
Meet the Climate First Bank Team at Upcoming Events!
We invite you to learn more and join us in championing doing well by doing good in business:
BLD SE: This regional B Corp Community conference will be in St. Pete from Sept. 9 - 12, and we’re proud to sponsor and present at it. Chief Sustainability Officer Chris Castro and VP of All Good Things Lauren Dubé will present “Banking on Values — Climate & Justice” and other topics. Learn more and connect with Lauren and with Chris!
RE+: OneEthos powered by Climate First Bank will host a booth with several team members available to discuss our solar financing solutions! Learn more and connect with Marcio deOliveira, Founder of OneEthos.
Consumer Impact Summit: Held Sept. 16-18 in Bentonville, Arkansas, our CEO and Founder, Ken LaRoe, will participate in a panel on “Where Your Money Sleeps at Night: Choosing Financial Partners to Strengthen Your Impact, Authenticity, and Brand.” Learn more and connect with Ken!
Climate Week NYC: Chris Castro and CEO and President Lex Ford (connect with him here!) will be presenting at multiple events during Climate Week, including:
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As the nation’s first climate-focused bank, Climate First Bank is a full-service community bank offering both personal and commercial banking services. We are proud to serve our communities as we work together to promote sustainability and reverse the climate crisis.
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