Fearing guilt by association, banks consider environmental impact of loans

A recent New York Times story suggests that some banks are considering the ecological implications of lending money. Click here to see the story.

Implications: My mother used to say, “If you’re hanging around with the people who do bad things, you’re just as guilty as they are.” In the wake of the BP oil spill in the Gulf, all kinds of chief executives might be thinking back to similar warnings they heard from their own moms.

Of course, guilt by association is not a literal offense. But one that is judged in the court of public opinion. (Mom knew that, too.) But the thought might inspire you to consider—from support companies to inventory vendors and service providers—are the companies you rely on to operate your business operating in a responsible manner (environmental or otherwise)? It can be hard to answer that question in times like these. But it becomes much more difficult after a news-worthy event gains momentum (as implied by another recent story in the NY Times; click to link).

Mike Anderson