Channel the green

Some 73 percent of financial-institution executives say they plan to build or significantly remodel branches in the next 12-24 months - and money isn't the only green they are interested in, according to the 2008 IBT Market Pulse Survey: A Different Shade of Green, released in May reports MarketingCharts.

Some 88 percent of those execs say environmentally friendly, green initiatives are important to their organizations (via Environmental Leader).

Moreover, 58 percent of financial institutions surveyed say they are planning all manner of new building projects, and of that group more than 75 percent are considering the use of green building materials and practices.

Among green initiatives being considered by institutions, energy efficiency is cited the most (76 percent), followed closely by indoor air quality (72 percent) and configuration of indoor work space (61 percent).

Seven in 10 executives polled say being green is important to their financial institution because "we are all stewards of the earth - we are doing what is right," and nearly as many (68 percent) say they are green because they "realize benefits from the lower operation costs."

Many financial institutions have already gone green:

• Some 90 percent of financial institutions offer paper- and postage-avoidance options, though customers don't often take advantage of them:

• Some 74 percent of financial institutions recycle, with paper being the item recycled item most mentioned (90 percent):

• Almost all financial services executives (93 percent) say they work in buildings that use fluorescent lighting or skylights, 47 percent use high-efficiency plumbing, 43 percent eco-friendly heating and air conditioning and 43 percent energy-efficient windows.
• Nearly three-in-ten (29 percent) of those surveyed work in a location that was expressly built with energy efficiency in mind.

Some of the other green initiatives financial services executives report their facilities participate in include:

• Using energy-efficient lighting, including compact fluorescent lights (81 percent),
• Having an active recycling initiative (74 percent),
• Encouraging ride-sharing or public transportation for employees (62 percent), and
• Using environmentally friendly cleaning products (46 percent).

The majority (86 percent) of financial services executives surveyed also say being green is important to their clientele. But although some environmentally friendly services are in place, there is room for improvement in both the breadth of offerings and the overall use of services.

"We are now seeing a real interest in eco-friendly building within the sector," said Mylle Mangum, CEO of IBT Enterprises. "Executives are generally interested in incorporating green elements into projects large and small.''

About the Survey: Conducted in April 2008, the 2008 IBT Market Pulse Survey is based on an online survey among a nationwide sample of executives with financial institutions. Of the 124 participants, 21 percent are president/CEO/chairman, 38 percent vice-president and 34 percent senior management. Some 91 percent are employed in a bank or credit union. About 86 percent work in institutions with assets of $101 million or greater; 37 percent of respondents work for institutions with assets greater than $1 billion. The research was conducted by Atlanta-based Arketi Group.