Discuss some of the ways in which banks are investing in sustainability. What are the advantages of
Question:
- Discuss some of the ways in which banks are investing in sustainability.
- What are the advantages of investing in sustainability? The disadvantages?
Banks not only want to incorporate greener processes into their operations, but they are also investing in green technology initiatives. Goldman Sachs has pledged $40 billion toward solar, wind, energy storage, and transportation initiatives. Wells Fargo plans to decrease its greenhouse gas emissions by 35 percent over 2008 levels. In interacting with customers in an online forum, Wells Fargo found that 80 percent valued environmental commitment on the part of businesses. By investing in greener initiatives, banks such as Wells Fargo and Bank of America could create competitive advantages through better customer relationships and a more positive reputation.
Step by Step Answer:
Business A Changing World
ISBN: 978-1259179396
10th edition
Authors: O. C. Ferrell, Geoffrey Hirt, Linda Ferrell