TowerGroup Take-Aways

• Environmental, or "green," initiatives are a fundamental strategy for achieving business objectives and restoring the industry's reputation.
• The US financial services industry as a whole must catch up with the industry in other global regions in delivering a green business culture.
• Despite the best intentions, a critical mass of effective green initiatives remains elusive in the United States.
• Grassroots groups and voluntary industry groups may catalyze development of standards and success metrics, measures, and best practices even before a government regulatory framework is complete.
• Emulating EU green standards and best practices can help US FSIs achieve competitive advantage.

Report Coverage

Environmental initiatives are becoming a marketplace imperative in the US financial services industry. Current environmental policy and practices lag those of the green movement in most of the developed world. However, these shortcomings represent an opportunity for US financial services institutions (FSIs) to participate in the formulation of the many new business practices and governmental regulations that are certain to come. This TowerGroup ViewPoint addresses the benefits of being proactive, highlights the status of current actions, and discusses future needs regarding environmentalism in the US financial services industry.