Is Going Green The Future Of Commercial Banking?
In the post-subprime world, where government life support for financial institutions is heading into the trillions of dollars, it is a hard job these days to find much that qualifies for genuinely innovative activity in the industry (aside, perhaps, from ethically-dubious products such as life insurance backed securities). Today TheBigMoney.com is headlining an article I wrote dealing with the question: Can Innovation Save The Economy? One of the more interesting firms featured in the story is e3bank, a Philadelphia-based financial institution start-up which plans to service environmentally-aware corporate and retail customers. The firm’s chairman Sandy Wiggins describes e3bank as a “green, triple bottom line financial institution.” In other words, every decision the bank makes must be done with both financial…
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