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(Just the News) Silicon Valley Bank (SVB) and Signature Bank New York (SBNY) donated a combined sum of $71.5 million to the Black Lives Matter (BLM) movement, according to a new database released by the Claremont Institute.
SVB forked over a whopping $70,650,000 to BLM while, while SBNY gave $850,000 according to the records gathered by the conservative think tank.
Claremont’s database cited several “social impact reports” that recorded the transactions and highlighted SVB’s pledge from early last year, to give $5 billion to companies aiming to assist with “the transition to a sustainable, low carbon, net zero emissions economy.”
They were criticized following their collapse, for taking their eye off the ball by prioritizing eco-conscious environmental, social and governance (ESG) investing over sound investment principles, while also focusing on diversity and social justice in hiring over strict merit.
One of SVB’s LinkedIn posts in 2022 celebrated the “diversity” hire of Jay Ersapah as the head of Financial Risk and Model Risk Management, highlighting how she helped “establish and is the lead for the LGBTQ+ network at…Failed Silicon Valley Bank gave millions of dollars to BLM and related causes, new database shows | Just The News