Today, we’d like to share the story of Solar Holler, one of our solar clients focused on bringing clean energy to Appalachia. We are proud of the support we are providing through our treasury management and lending services to Solar Holler.
Dollars deposited at Amalgamated are directly lent out to impact businesses that take corporate social responsibility seriously. Amalgamated’s impact lending strategy is steeped in our values to build a more just and sustainable world. The clients we serve are values-aligned organizations that we’re proud to do business with and support their efforts to make the world a better place. Today, we’d like to share the story of Namasté Solar, one of our solar lending clients focused on bringing clean energy to Colorado.
The Department of Labor has issued a proposed rule that would make it even harder for pension funds to invest in ESG products. They are calling for a higher administrative burden that would effectively warrant ESG as an unlikely investment options. At Amalgamated Bank, we think this is wrong and oppose the DOL proposed rule.
Yesterday, the world’s largest investment firm, BlackRock, took a big step in confronting the threat of climate change and announced that they would now be making investment decisions with environmental sustainability as a core goal in meeting their fiduciary obligation to clients.
For 96 years, social responsibility has been embedded into our products, policies, programs, operations and mission. So two years ago when we were recognized by B Lab as a company that meets their rigorous standards for social and environmental performance, accountability and transparency, it was an important third party endorsement.