Trust in the banking sector is incredibly low and it's easy to see why. Banks were at the center of the 2008 global recession and have continued to make money hand over fist in the years that followed. The business model that most banks use is simply not sustainable. They're focused only on their own financial interests when they have the power and resources to fundamentally improve the world.
Amalgamated Bank is one example of a bank that's trying to change the status quo. It's dedicated to the mission of using banking to help sustainable organizations fight for world-changing causes. It's the first U.S. bank to have its Net Zero Climate Targets validated by Science Based Target initiative (SBTi) and 62% of its lending portfolio is dedicated to high-impact areas.
#TheEconomist #Vision2045 #TBDmedia #Innovation
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