Green Banking Turns Profit - The Reykjavik Grapevine

Green Banking Turns Profit

Green Banking Turns Profit

Published July 2, 2008

A report released earlier this month by Javelin Strategy & Research states that if every household in the USA would stop receiving paper bills and statements, 687.000 tons of paper could be saved every year, which is enough to circle the world 239 times. The report examines green banking issues, including consumer habits, and recommendations for financial institutions seeking to attract environmentally conscious clients. The president of Javelin, James Van Dyke, points out that besides the obvious environmental benefits, banks can profit from green-banking both due to the lower cost of not printing statements, bills and so forth and also due to an influx of environmentally conscious consumers. Perhaps Icelandic banks looking to minimise expenditure for the recession should look to green-banking?

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