BEST 'GREEN' BANKS

YES, YOU NEED GREEN TO GO GREEN, SO WHICH BANKS ARE THE GREENEST.   According to a recently released Bloomberg study, which was very extensive (a universe of over 1000 banks) and global (the competing banks were from 49 countries) the "greenest" financial institutions were, in rank order:

1. Banco Santander, Spain
2. Goldman Sachs Group, U.S.
3. UniCredit SpA, Italy
4. Credit Suisse Group AG, Switzerland
5. Citigroup Inc., U.S.
6. Banco Bilbao Vizcaya SA, Argentina
7. Royal Bank of Scotland Plc, Scotland
8. Societe  Generale SA, France
9. HSBC Holdings Plc, Hong Kong
10. BNP Paribas SA, France

The rankings were based upon the banks' efforts to reduce their own carbon footprints (30% of rating) as well as their lending practices and policies to green projects and companies (70%).  For example, Banco Santander, the number one bank, instituted a practice whereby anyone can leave batteries for recycling at its branches in Brazil. It collected 172 tons of batteries last year and is now instituting that practice at all of its locations. According to the Bloomberg study, " Banco Santander is committed to increasing its own sustainability while placing its financial resources in projects which are environmentally friendly, such as financing a $324 million loan for a U.S. wind farm".

Not only is this great PR for these financial institutions but it is also lucrative.  Investment in clean-energy companies and projects rose 30% in 2010 to a record $243 billion. This study illustrates the need for Green to go Green and more so now that both the U.S. and European governments are scaling back on energy subsidies and tax rebates for clean projects because of fiscal and monetary constraints.

As part of the Arboreel Group - the environmental sustainability initiative for cinema exhibitors - I feel strongly that programs, such as Santander's battery recycling, can be performed by any cinema (and should be), as cinema's, like banks receive a lot of public traffic.  There has been a lot of resistance by the cinema exhibitors to Arboreel, but its time has arrived and exhibs need to support the Arboreel Program

Best and Happy Movie Going
Jim Lavorato