c. How does theory of change fit in a definition of ESG activity? 2. How

1. What is Beneficial State Bank’s theory of change? a.  How do its product offerings and loan portfolio relate to its theory of change? b.  What are the key risks? c.  How does theory of change fit in a definition of ESG activity? 2. How does a bank increase shareholder value? a. What prevents publicly owned commercial banks from enacting a business model like Beneficial State Bank? b. If a bank operates as a not-for-profit who are the shareholders and what value do they receive?