I was in a board meeting (small mutual financial institution) and our external auditor was presenting another exciting annual auditors report, no significant findings, excellent capitol and liquidity, good loan quality ie low risk, good investment portfolio.
Then, she said there was something we should be aware of coming our way. The ESCG score or in other words, the federal examiners are starting to ask every corporate entity just what specifically they are doing about climate change!
Uh, just how much can a small mutual savings and loan with 5 branch offices and less than 50 employees do to reduce carbon emissions or greenhouse gasses?
Her advice? Tell them we are looking into it.
Oh for crying out loud…