Silicon Valley Bank: When the “G” Fails in ESG

Poor governance caused the bank to fail, not the Fed, despite an "average" ESG rating

Silicon Valley Bank (SVB) was taken over by the FDIC on Friday, March 10, leaving many people, companies, and private equity firms holding the bag. According to their recent regulatory filing, roughly 85% of their deposits were not insured. The public and private stories in terms of potential losses for their customers are very sad. Some people in the f…