With the recent buzz surrounding CSR and ongoing global economic volatility, the banking industry has been quick to adopt initiatives under the rubric of corporate sustainability. Within and outside of the industry, the term “sustainable banking”, also known as green banking, is still somewhat vague, and can mean different types of strategies and activities.
One stream of sustainable banking, which many US and European banks have already taken on in some form or other, is operational sustainability, i.e. recycling initiatives, LEED certified buildings, progressive engagement with employees, as well as support for charities and “giving back” campaigns.
Relatively newer and often more impactful sustainability strategies can also involve building “green” features into existing products and services, or creating entirely new goods which have environmental and/or social considerations at their core. Some industry leaders have taken the concept further, launching new banks that are based on a triple bottom line - people, planet, and profit - throughout their mission, core business strategy, and all operations.
Source: Responsible Business Magazine