“Impact” seems to find itself at the head of many investment product titles. Financial institutions are quickly learning that their customers increasingly care more about the impact investments have on the environment and broader society.
Amalgamated Bank (Nasdaq: AMAL) – which owns New Resource Bank – announced a commitment to double the amount of assets New Resource has dedicated to financing socially responsible businesses over the next two years, moving from its current commitment of $350 million to at least $700 million by 2020.
“Corporate social responsibility.” “B Corp certified.” “ESG.” “Carbon neutral.” These are some of the buzzwords that companies use to talk about their impact on society. As America’s socially responsible bank, we use these words to describe our approach to doing business. But what does it really mean to be a socially responsible bank?
If you have a deposit account, loan or investment account with one of the mainstream banks, it’s entirely possible that you’re supporting the manufacture or distribution of guns without even realizing it.