PNC Bank Leads with Energy Efficiency
Published: April 12, 2012 / Author: Mendoza College
For many companies trying to increase profitability without increasing costs, reducing electrical consumption provides a very attractive return on investment. There is a direct correlation between capital investments in energy reduction and profitability. With the economy trending in an upward direction, more and more businesses are looking to go green and save money.
A new study from University of Notre Dame management professors Edward Conlon and Ante Glavas looks at Leadership in Energy and Environmental Design (LEED)-certified bank branches at PNC Bank.
In their study, “The Relationship between Corporate Sustainability and Firm Financial Performance,” they looked at 562 PNC bank branches. Of those, 93 were LEED-certified and 496 were not. Conolon and Glavas concluded that the employees who worked in the LEED-certified branches were “more productive and engaged in their work.”
“It’s a significant finding, and it surprised me,” Conlon, an associate dean and Sorin Society Professor of Management said in a statement. “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. We divided the amount by the branches’ total number of employees to come up with a per-employee dollar amount.”
To read the entire article visit: PNC Bank Leads with Energy Efficiency