As banks struggle to return to profitability, they are trimming everything from IT budgets to research teams. But while finance departments might have once considered corporate sustainability initiatives as costly add-on programmes, there is a growing recognition that conserving resources and cutting carbon emissions can help save money. And as they implement sustainability policies, leading banks appear to be reaping the financial benefits of their green agendas.
Much of the activity surrounds the energy efficiency of offices and branches. “We have seen numerous financial services companies make strong green-building commitments,” says Mindy Lubber, president of Ceres, a US-based coalition of investors and environmental groups.
