I love to listen to Dave Ross on Dave Ross on KCBS, newstalk radio. He usually comments about life and politics and government in his radio reports with humor and wit. But his latest report, "Can the Right Thing Be The Profitable Thing”, especially caught my attention because it was about a business, Shore Bank Pacific in Washington, that gives loans only to local businesses that are socially responsible. They call their approach to banking, the first one on the US: "Sustainable Banking”
In his report, Dave Ross, interviewed Dave Williams, the president of Shore Bank Pacific, about the business benefits of their policy. Dave Williams believes that they are making a bet these companies will thrive because customers are willing to pay more for the products and services of socially responsible businesses. He used the organic food industry as an example of a sector that experienced tremendous growth in the last few years.
Shore Bank Pacific, makes their investment decisions after looking at the environmental and sustainability aspects of the business, and also other areas of social responsibility such as how they treat their employees, how they contribute and generate wealth in the community, and whether they support local businesses by buying locally.
Shore Bank Pacific not only invests in these businesses but gets involved with them, by providing consulting services in all areas of their business development. Shore Bank Pacific supports alternative energy, real estate, specialty fishing and green building.
Their logo is: “Lets’ change the world” and their motto: “We leave a mark on everything we touch”.
Dave Ross did manage to tie in politics and government in his report and it was very serious. He asked a question about government not needing to regulate businesses that acted responsibly. “That’s right” said the banker. Guess Dave Ross had to stick to his bio somehow and Dave Williams left his mark and touched all the listeners, including me.