Finance, Banking and Accounting Green Practices
This page contains green practices information for the Finance, Banking and Accounting sectors.
A Catalyst for Change
Wainwright Bank Proves Socially Progressive Banking Is Not An Oxymoron
"Since its founding in 1987, Wainwright Bank & Trust Company has proven that allocating capital to underserved markets is not only socially responsible, but profitable."
"As the country’s leading socially progressive bank, Wainwright is considered a pioneer in what has come to be known as “green banking”. Since 1993, long before the term ‘green’ was widely used, Wainwright Bank has employed sustainable practices simply thinking of it as a part of its commitment to social responsibility. The concept is quite basic: in all aspects of doing business equally consider the impact on people, planet and profit. Or in other words, do no harm."
Accounting for Supply Risk Programs
Industry Week Article: By Jim Lawton, General Manager, D&B Supply Management Solutions, Dec. 7, 2009
This article is an great example of real world accounting practices that have sustainability applications. Sustainability programs need to account for "risks". Some of those risks include supplier risks such as those discussed in the article. Other similar "green" risks that have unique accounting and tax practice implications are Research and Experimentation and Energy Efficiency tax credits.
While there is a broad continuum of modalities for budgeting and funding supply risk programs inside companies, organizations have fewer accounting methods at their disposal when it comes to such initiatives. These options further compress based on the specific types of purchases an organization is making (e.g., direct materials, indirect, capital, services) as well as the overall supply risk program design (e.g., one time, periodic or continuous). Still, even though the options available are limited -- not to mention making for dry subject matter -- all supply risk program owners should familiarize themselves with the accounting methods on hand. This short article provides a brief overview of some of the methods we have observed companies to use on a regular basis.