RBS has set out new efficiency plans to reduce its environmental impact and hopes to save £200 million in the process. Long distance business trips are set to be replaced by “virtual meeting technology” as the banking group hopes to achieve a 50% reduction in CO2 emissions from business travel and a 50% reduction in paper use by 2020.
The move comes after a difficult period in the bank’s history following the financial crisis in 2008 and, more recently, the bankers’ bonuses row which involved company bosses.
The bank says it now wants to “embed responsible environmental practices” to make “a positive impact” on its customers. RBS Chief Executive Stephen Hester said: “Big business, big employers like RBS have a duty to manage their carbon footprint. It’s also an opportunity for us to show that RBS is changing and that we recognise our responsibilities as a global citizen.”
The group says improvements could come in as early as 2014- through changing work habits. Recycling, paper, travel and energy performance are the key sectors they intend to engage with. RBS will report progress through a number of channels such as a Sustainability Report and the Carbon Disclosure Project.