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May 14, 2021
Early on in the pandemic, Bank of America found an innovative way to gauge the success of the bank’s work-from-home experiment: a spreadsheet, distributed to team managers daily, that pitted the productivity of people working from home against those who were still showing up at the office.
Created for Thomas K. Montag, the bank’s No. 2 executive, the spreadsheet, as described by two people with knowledge of it and according to images reviewed by The New York Times, listed markets employees in descending order of their profitability each day, with those working from the office on one side and those working from home on the other. The evidence on which work environment yielded better results was mixed, those people said, but the message that the spreadsheet sent was not: Mr. Montag, Bank of America’s chief operating officer, was keeping score.
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Bank of America last week more than tripled its environmental financing goal, saying it wants to deploy more than $1 trillion by 2030 to accelerate the transition toward a low-carbon, sustainable future, according to a Thursday press release.
Since launching its environmental business initiative in 2007, the bank said, it has financed $200 billion in sustainable activities, including asset-based lending, tax equity investments and capital raising in the energy and transportation sectors, among others. It pledged to back $300 billion in low-carbon activities between 2019 and 2030.
The $1 trillion pledge is in addition to $500 billion the bank aims to put toward socially inclusive development, including affordable housing, community development, healthcare, education, and racial and gender equality.
LISC elects Karen Fang, Bank of America Head of Global Sustainable Finance, to national board
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NEW YORK, Feb. 16, 2021 /PRNewswire/ The Local Initiatives Support Corporation (LISC) has named a national leader in sustainable finance and environmental, social and governance investing to its board of directors to help guide its work in affordable housing, economic development, health, education, safety and jobs across the country.
Karen Fang, head of global sustainable finance at Bank of America, oversees the bank s business activities, including financing, advisory and distribution, in social and environmental progress globally. She joins a 27-member LISC board chaired by former Treasury Secretary Robert Rubin and includes leaders from the fields of finance, community development, academia, health and philanthropy.
Admirers of Wong and his films have been obviously psyched about the series. University of Houston film professor Dr. Karen Fang fell in love with Wong’s movies when, as a graduate student/teacher’s assistant at Johns Hopkins University, she screened his 1994 breakthrough “Chungking Express” for a Hong Kong film class.
“I think I had watched it beforehand on video, and I didn’t really get it,” says Fang, who is also a member of the MFAH film subcommittee. “But the students all got it… They were giggling and charmed by the film. And watching the movie a second time through made me pay closer attention to that.”