- Silicon Valley Bank's failure triggered a banking crisis in 2023 after dozens of companies reported cash held by the bank, including businesses in the cleantech sector.
- Governance weaknesses, including a lack of a chief risk officer for much of 2022 and a well-timed stock sale by CEO Gregory Becker, contributed to the bank's failure.
- Investors are showing interest in carbon software businesses, including Xpansiv and Measurabl, which provide infrastructure and software for carbon credits and emissions tracking in commercial real estate.
- Carbon software is generating funding interest comparable to crypto before its bubble burst, with clear regulatory tailwinds.
- Saudi Aramco reported record profits for 2022 despite global warming concerns.
Financial Times — Tech — Silicon Valley Bank collapse and governance red flags, rise of carbon software businesses — Us & Canadian Companies — Technology Sector — Financials
Silicon Valley Bank’s governance red flags
Silicon Valley Bank's governance red flags contribute to its failure and raise ESG concerns, while investors show interest in carbon software businesses. Saudi Aramco reports record profits despite global warming concerns.