Fortune, May 16, 2024, An Obscure 47-Year-Old Law Designed To Right The Historic Wrongs Of Redlining Was The ‘Original ESG Framework,’ Execs Say. Just Look At How Crown Heights And Bed-Stuy Have Changed
Within the finance sector, ESG might seem like a trend that’s only really caught on in the past few years—but a lesser-known banking law passed in 1977 laid the groundwork for modern ESG policies and the $450 billion community development financing industry, and it’s being updated to serve low-and-moderate-income communities amidst changes in the banking and housing sectors.
