The recent implosion of Silicon Valley Bank escalated culture war arguments, as some conservative politicians who were already targeting certain investing approaches blamed the bank’s downfall on “woke” practices.
House Oversight Committee Chairman James Comer (R-Ky.) called SVB “one of the most woke banks” because of its “ESG-type” policies — a reference to environmental, social and corporate governance-driven investing that has been embraced by billion-dollar asset managers and scorned by conservatives of late.
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