TD Canada trust is one of the first banks to offer “green machines”. Their ATM machines will operate from eco-friendly, alternative sources such as wind or low impact water power. TD Bank has pledged to work with Bullfrog Power to operate about 2,600 bank machines across Canada in an environmentally friendly way. The amount of energy saved is equal to about the amount of energy 1,000 Canadian homes use in one year. TD has also made a pledge to become carbon neutral by 2010.
TD Canada Trust is not the only bank going green-HSBC was the first major bank to become carbon neutral. They achieved their goal by investing in hydroelectric projects, energy efficient steel making, and other green choices in all aspects of the bank’s operation and manufacturing of materials. HSBC has a long term carbon management plan in place which is said to ensure their carbon emissions remain at zero and they pledge to try to reduce the energy consumption of their employees.
Banks are not only operating in an environmentally friendly way but are offering perks to their employees and customers that are being more mindful of the environment. Green mortgages are becoming more popular, with the rates being reduced for eco friendly appliances or renewable energy sources. Furthermore, banks are beginning to support Environmental funds and donate a percentage of their proceeds to contribute to the health of our planet. For every new hybrid vehicle purchased with an RBC Royal Bank Car loan, RBC donates $50 to the Nature Conservatory of Canada. RBC also donates $5 to the same fund each time an account is switched from paper to electronic statements. TD Bank Financial Group also states that they match customer’s donations up to $1 million per year which goes towards the environment.
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