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MENDOZA IN THE NEWS

PNC Bank Leads with Energy Efficiency

Publication: International Business Times (U.K.)

April 12, 2012


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."

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