Page 373 - Design for Environment A Guide to Sustainable Product Development

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This 904 kilowatt system produces the equivalent of the
power required to supply more than 900 homes, and meets
up to 80% of the hub facility’s peak energy demand. The
81,000 square feet of roof space at the facility is covered
with more than 5,700 solar electric panels, which also help
insulate the buildings.

Financial Services
Apart from the environmental footprint of their physical opera-
tions, financial service industries have a broad impact on society
and the environment through their investment, insurance, and
lending practices. Financial institutions have the power to take into
account environmental factors such as climate change risks in their
lending or investment strategies, and thus influence decision mak-
ing on the part of consumers and all types of businesses, large and
small. During the 2008 U.S. economic collapse, many financial ser-
vices firms experienced severe losses, and some did not survive.
Nevertheless, the fundamental principles of environmental respon-
sibility will continue to have a strong influence on business practices
in this sector.
Citigroup was one of the companies damaged by the 2008 mort-
gage foreclosure crisis, but its approach to corporate citizenship
and sustainability has been extremely progressive. An international
financial conglomerate with operations in consumer, corporate, and
investment banking, as well as insurance, Citigroup employs about
300,000 people around the world. Its environmental efforts include
several major thrusts [8]:

• Reducing its environmental footprint through sustainable
buildings and consolidation of data centers. For example,
Citigroup’s Frankfurt data center uses up to 25% less energy,
saving more than 16,000 MWh per year, as well as 11,750
metric tons of CO , 46.5 million liters of water, and 129 met-
2
ric tons of water treatment chemicals. Citigroup’s 15-story
office building in Long Island, New York (see Figure 19.5)
includes eco-design features such as storm-water recycling,
energy-efficient fixtures, and emphasis on natural lighting.
• Reducing overall GHG emissions by 10% from 2005 to 2011
through adoption of “best practice” energy saving measures
across its global operations. The company hopes to save as
much as $1 per square foot in energy costs, yielding savings
of almost $100 million annually.
• Implementing sustainable procurement policies that empha-
size recycled content; for example, 33% of the 2007 expendi-
tures were for recycled products, and 63% of the 2007 paper
purchased contained recycled content.