Blaming banks for the environment is not good business
Fox News
The future for many banks is inextricably tied to their policies and practices on climate, energy and the environment. And that portends more risk than reward.
Adonis Hoffman is CEO of The Advisory Counsel LLC. He is a former adjunct professor at Georgetown University and served in senior legal roles in the U.S. House of Representatives.
These events have left deep fault lines in banks' reputations, going from beneficent to black hat in recent years.
Contrary to these popular notions, banks play a critical and consequential role in society. They facilitate the flow of needed funds, provide a reservoir of investment dollars, and foster economic progress, production and profit. From the mom-and-pop store down the street to the mega cap corporation downtown, business relies on banks and banks rely on business. They bring capital to commerce and anchor our economy. It is the way of the world.