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Environmental Sustainability

Climate Change Risk

We recognize that the world’s climate is changing. Climate change is likely to have profound long-term impacts on our way of life, our communities and more specifically on the way we do business. We recognize that BankUnited operates in and has exposure to areas of the country that may be more exposed to climate change risk over the long-term. While we recognize that the science related to predicting and estimating the long-term impacts of climate change is relatively new and still evolving, we strive to incorporate consideration of climate change risk in our strategic and business decisions.

We are monitoring the evolution of regulatory developments and industry practice with a view toward developing a more comprehensive framework for assessing, monitoring and managing the impact or potential impact of both physical and transition climate risk on our business. We are currently investing in efforts to help us better dimension the potential impact of climate change on our business and provide more comprehensive disclosures to our stakeholders.

Our Business Continuity Management (“BCM”) department actively monitors weather related events that may impact the Company's customers, locations or operations including hurricanes, winter storms, flooding and fire. Given our presence in Florida, during hurricane season BCM continuously monitors and tracks storm activity and forecasted paths. The Company has a comprehensive Hurricane Response Plan that outlines measures to be taken before, during and after a storm strikes, including customer outreach, communication plans, evacuation and employee safety, safeguarding real estate assets, activation of a command center, the relocation of staff responsible for critical business processes and post storm impact assessments on both the Company and its customers. This plan has been tested under both simulated and actual conditions. BCM also assesses the resilience of our significant third-party service providers with respect to their ability to respond to service disruptions or degradations resulting from weather related events. We have migrated our disaster recovery technology infrastructure to the cloud to minimize the impact of physical damage to our facilities on our ability to continue uninterrupted operations. Our credit underwriting standards also consider weather event related risks.

Environmental Sustainability Investments and Lending

Our existing portfolio consists of a variety of ESG projects including water supply & treatment, financial inclusion, and multiple sectors of renewable energy. Our business plan contemplates seeking additional financing opportunities in the sectors, as well as waste management & recycling, fleet transformation, and other projects that impact energy efficiency and/or waste reduction.

Our strategic business plan contemplates seeking opportunities to provide financing that promotes sustainable and environmentally friendly practices. We have a dedicated sustainability finance practice leader in our corporate banking division charged with identifying and furthering these opportunities. Opportunities of potential interest might include renewable energy, energy efficiency, clean transportation, sustainable water, water and waste management, environmental remediation, carbon capture, climate change adaption, emissions and greenhouse gas reduction, and financing energy efficient or LEED certified properties.