From The Australian, news that two top bank executives are pushing greener business practices as a “new approach” to bigger profits:<\/p>\n
The heads of two of Australia’s big four banks have unveiled their vision for caring, sharing companies that would measure their success in community respect as well as profits.<\/p>\n
In a reversal of the profit-obsessed “bastard bank” philosophy of the 1990s, the heads of Westpac and ANZ said banks needed to focus on sustainability, environmental issues and caring for their staff and customers. <\/p>\n
Of course, the added benefit is that the new approach could mean even bigger bank profits. <\/p>\n
In a speech to stock analysts in Sydney [today], Westpac boss David Morgan said the bank had focused on lowering electricity use, reducing greenhouse gas emissions, developing “switched-on” employees, lowering staff turnover and fostering a healthy engagement with the community.<\/p>\n<\/blockquote>\n
Several interesting points here. First, these execs. are touting a “doing well by doing good” philosophy of business: not only is it right to do business in greener and more “people-friendly” ways, but it’s also a way to increase revenue and profits. Secondly, they’re recognizing that sustainability is a broad concept with environmental and social implications: ultimately, we want to protect the natural environment to improve the quality of human life. I suppose one of things that continues to amaze and delight me about sustainability is its simplicity; of course, that makes the slow pace towards it that much more frustrating, too… Still, good to see that it’s sinking in here and there.<\/p>\n
Categories: sustainability<\/a>, business<\/a>, banking<\/a>, australia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
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