Banks Embracing Green Challenge, Study Finds
According to the latest Banking Industry report from research group Covalence, competition for eco-minded customers has helped improve how banks’ services affect the environment. The study looked at the EthicalQuote Reputation Index for nine industries from June 2006 to June 2007 and found that the banking sector was ranked second highest in its overall reputation, following the food & beverage sector and just ahead of technology companies in score. “Over last year the Banking Industry has witnessed a favorable evolution in the areas of Eco-Innovativeness of its products, Environmental Impact of Production and Social Sponsorship,” the report’s authors write. Among the big news that gave the industry its boost were high-profile sustainability events like the private finance takeover of TXU, which aims to reduce the amount of coal-fired power plants used by the utility and increase investments in renewables. The report notes that Citigroup and HSBC were among the most positively ranked banks in the study. Image source: greenbiz.com
Publication: Covalence in the Press | Country: Spain | Company: HSBC,
