Amidst the financial crisis, banks are continuing their push for
improved corporate environmental performance. If you thought the
current financial downturn would reduce private sector interest
in environmental issues, think again. With severity rivaling
that of the economic crisis, the global environmental crisis is
also changing the way banks operate. Last year, some in the
media predicted that the financial crisis would cause companies
to lose interest in environmental issues because environmental
stewardship would no longer be affordable. However, the global
environmental crisis is increasing supply chain costs,
tightening legislation, and providing new market opportunities.
To protect themselves, investors are increasingly factoring
environmental concerns into their lending requirements. It is
therefore critical that companies understand and address their
dependence and impacts on ecosystem change. This past December,
for example, Bank of America and HSBC announced more stringent
environmental lending re