OceanFirst releases 1st-ever ESG report

Christopher Maher.

When OceanFirst Bank released its first-ever Environmental, Social & Governance report Tuesday, Chairman and CEO Chris Maher wanted to emphasize one thing: The bank’s commitment to equality and doing the right thing goes back much further than this initial report.

For Maher, the report was a reminder of all the good things Toms River-based OceanFirst has done and continues to do, he said.

“We are proud to announce the first formal ESG Report for OceanFirst is now available on our website, while noting that our commitment to serve all of our stakeholders in a responsible manner dates back more than a century, reflecting our strong roots as a community banking organization,” Maher said.

Maher said the ESG Report highlights the bank’s policies, practices and recent initiatives across a range of areas, including equitable access to capital; diversity, equity & inclusion; employee health and wellness; support for the community; environmental priorities; corporate governance; and other vital matters.

All of these policies are key to doing business, Maher said.

“As our society and economy experience dramatic changes, we believe that companies must demonstrate leadership in a wide range of areas broadly known as ESG,” he said. “At OceanFirst, we are acutely aware of the vital importance of maintaining responsible ESG policies and practices — to serve the interests of our stakeholders; expand access to economic opportunity; protect our enterprise from external risks; and fulfill our responsibilities to our communities, society and planet.”

OceanFirst Bank, a subsidiary of OceanFirst Financial Corp., is a $12.2 billion regional bank providing financial services throughout New Jersey and in the major metropolitan markets of Philadelphia, New York, Baltimore, Washington, D.C., and Boston.

OceanFirst Bank delivers commercial and residential financing, treasury management, trust and asset management, and deposit services and sees itself as one of the largest and oldest community-based financial institutions headquartered in New Jersey.