13 Apr 2009 More on Making Green Loans
The CEO of e3bank has written to respond to the post last week about e3bank.
Here’s what he had to say:
Good Morning Amy,I have read your blog and would like to respond to statements made about the recent New York Times article on e3bank.
Our goal at e3bank is to provide credit worthy people with financial tools that help them incorporate sustainability into their lives, homes and businesses. As a triple bottom line bank, all of our business decisions – including loan decisions – are viewed through three lenses: What are the impacts of our decisions on profitability? What are the impacts on the environment? What are the impacts on all of the people who are affected by them?
We have no intention of lowering credit standards. We’re all suffering through the results of that kind of behavior. However, we recognize that companies and individuals who are focused on energy conservation and environmental responsibility tend to have a better risk profile. Understanding sustainability and taking action on it is an indicator that these customers are forward-thinking and conservative in the broadest sense of the word.
Frank J. Baldassarre, Jr.
enterprise. environment. equity.
346 East King Street
Malvern, PA 19355