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SVB Donated $73M to BLM Scam – Related to Crash?

Agenda Related Donations Places Focus On Activism Over Fiduciary Responsibility

As we all know, this week Silicon Valley Bank, amongst others, collapsed and are being bailed out by the government. Today we find out that a part of their lack of capital was directly related to donating nearly $74 million to the Black Lives Matter Movement.

Executive Director of Consumers Research, Will Hild, states that “Time after time we see the same pattern: companies that are the most concerned with ESG scores and woke politics do the worst jobs serving their customers.” He also states that “it is yet another indication that SVB was focused on woke virtue signaling instead of protecting their customers.”

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There are public reports linked directly on Silicon Valley Banks website that shed light into the leftist corporate agenda on Wall Street’s Environmental, Social, and Governance (ESG) standards over its fiduciary duty to shareholders.

Greg Becker, SVB Ceo, stated “In recent months, we’ve expanded our philanthropic giving through corporate donations and employee matching programs. These programs focus on pandemic response, social justice, sustainability and supporting women, Black and Latinx emerging talent and other underrepresented groups.”

According to the reports fact page, SVB spent $2.8 million on “gender parity innovation” and “diverse emerging talent.” A Corporate Responsibility Report in 2020 also details SVB’s activist efforts in supporting people based on their race and sex.

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SVB has been fixated on this agenda for quite some time. A Proxy statement read “The Governance Committee’s focus on overall diversity continues in 2021 including on race/ethnicity and other underrepresented categories.”

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The bank reiterated its commitment to ESG standards at the World Economic Forum (WEF) “stating We aim to enable relevant comparisons of our ESG performance with peer companies.”

 

Another red flag associated with SVB, is that in the same year, there parent company SVB Financial Group invested $11.2 Billion into an ambiguous community benefits plan, which was primarily focused on low income housing.

With such a large emphasis on ESG standards, it is no surprise that the companies financial responsibility took a back seat to their political ones. The CEO’s vision of success was too closely related to activism then it was to having a financially profitable business.

Another example of the banks promotion of ESG was their heavy involvement of climate activism. in 2022 SVB Financial group pledged $5 Billion in loans to support anti-emissions efforts leading up to 2027. The project “aims to support companies that are working to decarbonize the energy and infrastructure industries and hasten the transition to a sustainable, net zero emissions economy”

 

 

 

 

 

 

 

 

 

 

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