1. Case Study Commonwealth Bank Although banks are not an obvious example of environmental polluters, they are large consumers of energy and resources. The Commonwealth Bank of Australia is one of a number of banks that have made sustainability promises over the last few years in an effort to improve their image. The rationale for doing this is that aligning corporate objectives with society's needs is likely to generate sustainable growth in shareholder value over the long term The bank describes its approach to sustainability as playing an important role in "building and sustaining Australian society, and creating a sustainable future. They "aim to deliver long-term value to the Group's key stakeholders, customers, shareholders and the community One of their strategies is to create environmentally friendly offices and branches. In 2010 the bank moved approximately 4,000 staff into new offices in Sydney Olympic Park. The precinct's three buildings have an environmental focus, with the following design features: . They use energy-saving features and materials such as paints and carpets that are low in volatile organic compounds and high in recycled content. One building has achieved a 4.5-star NABERS rating, and a second has been designed to certify as a 5-Green Star building for interior design and tenancy . Food waste from the kitchens and cafes are delivered to the team at Earth Power, who convert them into green energy and nutrient-rich fertiliser One hundred per cent of the toner cartridges used are recycled by Ricoh, and spent light globes are recycled. The environmental initiatives also involve Commonwealth Bank staff. They are encouraged to recycle mobile phones, swap plastic bags for calico ones, and are involved with activities, including Clean up Australia Day and a tree-planting day organised in association with the Parklands Foundation. Questions a) Does the Commonwealth Bank's sustainability policy cover the environment, economy and society? How? b) In what ways are they reducing their ecological footprint? c) How does having environmentally designed office buildings benefit the bank in the short and long term