Beneficial State Bank co-founder and board chair Kat Taylor named to Forbes' inaugural Sustainability Leaders list
Sep 25, 2024
Taylor was recognized among 50 honorees for her work in sustainable banking and environmental stewardship.
Sept. 25, 2024, Oakland, Calif. – Kat Taylor, co-founder and board chair of Beneficial State Bank, has been named to Forbes' inaugural Sustainability Leaders list. The recognition highlights Beneficial State Bank’s renewable energy lending, as well as Taylor’s leadership in making the food system more sustainable. This is the first time that Forbes has honored leaders across industries who are combatting the climate crisis.
"Kat's inclusion in Forbes' Sustainability Leaders list is a well-deserved recognition of her continuing efforts to redefine the role of banking in society," said Randell Leach, CEO of Beneficial State Bank. "Her leadership has not only inspired Beneficial State Bank's mission-driven approach but has also challenged the entire financial industry to prioritize environmental sustainability and social equity. Her work has proven that it's possible to align profitability with purpose, setting a new standard for sustainable banking practices."
Under Taylor’s board leadership, Beneficial State Bank has implemented several sustainability initiatives, including a lending program for renewable energy, sustainability entrepreneurs, net-zero building construction, and climate crisis mitigation projects. As of the end of 2023, the bank had $26.4 million in outstanding loans to environmentally-focused commercial projects and $106.1 million in residential solar loans, promoting clean energy adoption at the household level. Since its inception, Beneficial State Bank has maintained a disciplined approach to lending and investment, deliberately steering clear of harmful industries, including fossil fuels.
Beyond her work with Beneficial State Bank, Taylor is also recognized for her role as a Founding Director of TomKat Ranch Educational Foundation (TKREF), where she has spearheaded initiatives in sustainable ranching, research, and educational programs aimed at transforming the food system. She is also active in a variety of social enterprises and philanthropic ventures focused on deep systems change.
Beneficial State Bank (Beneficial State) is a state-chartered, federally insured bank with branches in California, Oregon, and Washington. Beneficial State serves the triple bottom line of people, planet, and prosperity for all, which involves serving its communities, supporting positive environmental outcomes, and achieving long-term financial sustainability. A unique ownership structure supports these strategic priorities: the bank’s capital is majority-owned by the nonprofit Beneficial State Foundation. This means its economic rights are fully aligned with, and permanently governed in, the public interest.
Beneficial State Bank is a founding signatory of the UN’s Principles for Responsible Banking, a member of the Global Alliance for Banking on Values, a Community Development Financial Institution (CDFI), Fossil Free Certified, and one of the world’s top-rated Certified B Corporations.
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