Environmentally Conscious Banking
April 21, 2014 12:58 PM
Some banks have made eco-friendliness their mission, while others dabble in green initiatives such as building energy-efficient branches. In honor of Earth Day , here are some examples of banks that have tied environmentalism to their business strategies.
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Ecofriendly Loans
First Green Bank in Mount Dora, Fla., lives up to its name. The $248 million-asset bank, founded by Ken LaRoe, has developed a niche providing funds for ecofriendly projects. Employee benefits include use of hybrid vehicles.
Renewable Energy Push
New Resource Bank, led by Vincent Siciliano, acts on its credo of "rethink, rebuild, renew" by buying renewable energy certificates to offset electricity usage and travel. The San Francisco lender also finances green businesses and clean-tech companies.
A Higher Standard
PNC Financial began applying green building standards to all newly constructed and renovated branches in 2002. Since then, PNC has certified more than 200 projects and is building The Tower at PNC Plaza , which should consume 50% less energy than a typical office tower.
(Image: Bloomberg News)
Low-Impact Location
When Kennebec Savings Bank in Augusta, Maine, decided to tear down an existing building to construct a branch, it applied for Leadership in Energy and Environmental Design certification . The building has a geothermal heating and cooling system, light-motion sensors and roofing shingles made of glass to reflect the sun's rays.
Brand Awareness
Green Bank in Houston, Texas, bills itself as a "champion for a cleaner, healthier environment." But the company didn't start out that way . The name was originally chosen because it was memorable, according to the bank's website.
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Partners for Efficiency
Heartland Financial launched a program in 2012 with BluePath Finance funding energy-efficient projects for businesses, nonprofits and government agencies.
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Choosing to be Green
GreenChoice Bank touts on its website that a "values-based mission of sustainability has informed each and every aspect" of its business. That includes locating its Chicago headquarters at the Green Exchange , a former factory converted to meet LEED platinum standards.
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