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An outstanding ESG rating - but no chief risk operator: SVB hired woke board obsessed with diversity, invested $5BN for 'healthier planet' and held monthlong Pride celebration - but failed to spot glaring problems with investments
UK Daily Mail ^ | March 13 2023 | MELISSA KOENIG

Posted on 03/13/2023 1:22:53 PM PDT by knighthawk

Executives at Silicon Valley Bank focused on woke initiatives to increase diversity amongst its ranks and invest in startups promoting a 'healthier planet,' but failed to spot its glaring problems with investments as interest rates rose.

The now-failed bank had an A rating for its Environmental, Social and Governance policies according to the MSCI index after creating its own initiatives to 'advance inclusion and opportunity in the innovation economy' and investing in clean energy solutions over the past few years.

It even announced that it would invest a whopping $5billion by 2027 to support sustainability efforts, while its European offices held a monthlong Pride celebration and promoted 'safe spaces.'

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: bank; bankfailures; bidenvoters; diversity; esg; siliconvalley; svb; svbbank; woke; wokeboard; wokemanagement
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To: ConservativeInPA

Amen. Far worse than some commies.


41 posted on 03/14/2023 3:17:21 AM PDT by eartick (Stupidity is expecting the government that broke itself to go out and fix itself. Texan for TEXIT)
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To: knighthawk

Heritage Foundation is helping to raise awareness about the dangers of ESG to American society. Go to ESGhurts.com to see what grassroots efforts you should be making.

We must all educate ourselves to this “quiet” coup attempt by the left. Though It’s good to know that there is significant pushback growing, especially at the state level.

Get involved.


42 posted on 03/14/2023 3:44:14 AM PDT by aligncare ( Make America Great Again with Trump 2024)
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To: knighthawk

Just like the school board in San Fransicko that spent more time debating which schools to rename than how to reopen them during the pandemic. That didn’t work out so well for the school board members. Hopefully the bank managers join those school board members in the unemployment line, along with the Hershey’s executives who thought touting a man in womanface was a great way to celebrate International Women’s Day.


43 posted on 03/14/2023 6:57:40 AM PDT by FormerFRLurker
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To: knighthawk
In short, SVB's emphasis on DEI and ESG blinded the company from realizing their investments were in TOO narrow a range. In short, they forgot a common dictum in investing: do not put all your eggs in one basket.
44 posted on 03/14/2023 7:19:08 AM PDT by RayChuang88 (FairTax: America's Economic Cure)
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To: knighthawk

Our “Elites” are morons.


45 posted on 03/14/2023 7:41:45 AM PDT by Chgogal (Welcome to Fuhrer Biden's Weaponized Fascist Banana Republic! It's the road to hell..)
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To: ronnie raygun

Well, judges already give credit to schizophrenic child women in divorce courts to educate the kids, …. This kind of stuff you never take to paradise… I am surprised that it is only now we reap the whirlwind of the madness in America.


46 posted on 03/14/2023 6:32:54 PM PDT by JudgemAll (Democrats Fed. job-security in hates:hypocrites must be gay like us or be tested/crucified)
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To: Chgogal

They have a schizophrenia agenda. Every symbol of adulthood is getting attacked regularly while symbols of adolecent anger in adults is praise all the time whether it is antifa vs Police, the manger vs woke flag in public courts, brats getting hired vs grumpy old man getting fired, etc… it never fail.

I even suspect Hillary lost twice her attempts at presidency because she looked too boomer compared to Obama or even Trump, believe it or not.


47 posted on 03/14/2023 6:37:12 PM PDT by JudgemAll (Democrats Fed. job-security in hates:hypocrites must be gay like us or be tested/crucified)
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