Bank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice

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The Value Gap is a MarketWatch Q&A series with business leaders, academics, policymakers and activists on how to reduce racial and social inequalities.

Change can be tough. But it also is rare that anything big happens without a way to pay for it first — and that’s where Karen Fang, Bank of America’s global head of sustainable finance, steps in.

“The bank’s ultimate job is to connect the supply and demand of capital,” Fang said in a recent interview with MarketWatch.

That’s not all. She also outlined a brave new future for banks just on the horizon, where finance is a key to a less toxic planet and giving Black and Latino communities a better shot at prosperity. 

“I do think in 10 years, 20 years, everything we do is ESG,” said Fang, who grew up near Shanghai and was educated at the University of Tokyo, of the push for better environmental, social and corporate outcomes through finance and investing.

For the past 11 years,…

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