Banks Make More Money When They’re LEED-Certified
Published: March 26, 2012 / Author: Mendoza College
Banks that are LEED-certified make more money, a University Notre Dame study finds.
Over the years, there have been lots of studies that show employees are more satisfied and productive when they work in green buildings, but this is the first study to show that banks actually bring in significantly more revenue.
Researchers found that bank branches generate more revenue – $461,300 per employee – even though they offer the same products and services.
University of Notre Dame management professors Edward Conlon and Ante Glavas compared 562 PNC Financial Services Group, Inc. (NYSE: PNC) branches (93 LEED, 469 non-LEED) in “The Relationship between Corporate Sustainability and Firm Financial Performance.”
They conclude that PNC employees who work in LEED-certified branches are more productive and engaged in their work.
“It’s a significant finding, and it surprised me. We compared the amount of money deposited at LEED and non-LEED branches, and we found more money has been deposited in the LEED branches,” says Edward Conlon.
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