sustainability analysis bank of america & the pennsylvania state university dakota nelson |...
TRANSCRIPT
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Sustainability AnalysisBank of America & The Pennsylvania State University
Dakota Nelson | Monica Chennavasin | Karan Kalaria
Akshay Kumar | Jackie Stivala | Shawn Conway
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"Men have forgotten this truth, said the fox. But you must not
forget it. You become responsible, forever, for what
you have tamed."
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Define:
process for both improving and creating a range of opportunities
enable individuals and communities to reach their full potential over a sustained period of time
economic, social, and environmental systems
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Triple Bottom Line
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History of Sustainability
1840-1870 Early
1960’s
Early 1980’s 1987
Industrial Revolution Growth in
Poverty
Introduction of the
Production of Environment
Accepted Definition of Sustainabilit
y
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Social Concept
Maintains firmness
of:
social structur
e
cultural structur
e
Important to Consider Social Inequality :Divided- Nationally Ethnicity Social Class Ownership of Wealth Gender Life Opportunities
Influenced by Environmental Degradation
Solving Social Inequality Issues = Attempting Power Imbalances
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Social Concept
Social Values
Principles of Intragenerational
Equity
Principles of Intergenerational
Equity
Fairness
Space
Fairness
Time
Related to cultural heritage, acceptance of a commonly accepted way of • Democratic Values• Family Values • Belief in Certain
Principles (fairness and justice)
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Environmental
Focuses on
Stability of:
Biological
Systems
Physical Systems
Footprint =
IMPACT Country Region City
Direct Greenhouse
Gas Emission
Water Use Energy Consumption
Waste Generation
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Economic
Maximizes Generated IncomeWHILE…
Maintaining The Stock of Assets
• What kind of capitals should be maintained?
Main Measure of Economic Performance
=GDP
Designed to Measure Levels
of Economic Activity
Does not take into account the consumption of
damages of natural resources
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Key Sustainable Developmental Challenges
2.8 billion people,
survive on less than $2 a day
Over 800 million
people are malnourishe
d
1.3 billion people live
without clean water/ proper
sanitation means
Over 1 billion people do not have access to electricity, safe shelter, or clean air
POVERTY
HUMAN WELLBEING
INEQUITY
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UN Millennium Development Goals (MDGs)
What is it? - A blueprint agreed to by all the world’s countries and leading development institutions, which provides a basis for measuring global progress toward sustainable development highlighting eight main goals:
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Companies & MDGs
Harness innovation and skills in order to:• Create wealth and employment• Offer essential goods and services• Implement responsible business practices
Human Rights Labor Safety Standards
Strengthen & Build Public
Institutions
Support Community
Projects
Provide Donations & Contribution
s
Engage in Advocacy
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Today,Focus has shifted.Emphasis is now placed on:
Navigating Around Challenges
Addressing MDGs
In a 2013 survey,
62% of
business leaders stated that integrating sustainability was the biggest challenge
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Although challenging,A culture of sustainability yields a competitive advantage – Increased productivity and reduced costs Improve financial and investment opportunity Minimize carbon footprint and improve energy efficiency
Spent the past several years constructing goals aligned with CSR focus areas
Implements them into their values
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Bank of America- Est. 1904
“We’re here to build meaningful connections that make your financial life
better”
150 Countries
230,000 Employees
$$11.4
Billion Net Income
5th in Total Market Cap
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People
Responsible Business Practice
Diversity
Leadership & Service
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Responsible Business Practice
Code of Ethics
Reducing Non-Core
Ethics
Managing Risk
Assisting Customer
s
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Assisting Customers and Communities
Loan Modificatio
ns
1.3 million mortgages
Outreach Efforts
CAC’s
Community Developme
nt
Property Donations
Home Abandonment
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Service and Leadership
Volunteering
Neighborhood Builders
Donations
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Volunteering
Mentoring
Financial education
Helping non-profits
Preserving parks and communities
2,000,000 hours for 2013
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Neighborhood Builders Program
Largest non-profit leadership investment
700 Organizations
1,200 leaders
95% is health, human services, and community development
$200,000 donation
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Economic Sustainability
Small Businesses
$10.7 billion in new credit
$700 billion for clients
$87.5 billion in
new mortgages
$11.4 billion new
income
“One of the strongest balance
sheets”
$3.2 billion stock
purchase
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Small Businesses & Mortgages
“…continually engaging with individuals and communities to help support the continued recovery and
strengthening of the U.S. housing market”
“Connecting small business owners with the resources necessary to
sustain and expand their operations promotes economic growth and job
creation”
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Environmental Sustainability
2004-2009
18% increase in GHG (Goal was 9%) 200
7
$20 billion committed to environmental
initiatives
Low Carbon Vehicle
Program
2010
Bank of America Tower 201
3
$50 billion committed to environmental
initiatives
$500 million dollar green
bond
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Bank of America Tower One Bryant Park
First commercial sky scarper to achieve LEED
Energy Production
Gray Water System
Garden and Compost
https://www.youtube.com/watch?v=fGD29XwDbjE
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Green Bond
Silicon Ranch, Simon Solar
$500 Million bond,
Finance Renewable Energy
City of Los Angeles
Antioch United School District
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Penn State & Sustainability
Penn State practices sustainability
regularly…Two organizational areas:• Academic• Business
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Academic Summary
• Joint effort
• Multidisciplinary Business Engineering Agricultural Sciences
• Both faculty and students are involved
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What is Penn State’s Primary Academic Function?
Provides a prestigious education to attendees
Produces undergraduates and graduates fully prepared to excel in their fields
Conduct research for the betterment of society, globally and domestically
Community Involvement
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Sustainability Initiative: The SCC
SCC = Sustainable Communities Collaborative
Combined Effort (synergistic approach)Faculty, Staff, and Students from multiple disciplines
Community Entities:
Local governments, campuses, businesses, and organizations within Pennsylvania
Projects are presented and evaluated for viability
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SCC Continued
Some projects include:
Studying residents’ buying decision process for green energy
technologies (Psychology)
Evaluation of borough residents’ knowledge of
composting program (Agricultural Sciences)
Development of a “closed loop” zero-
waste disposal system (Supply
Chain)
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SCC Continued
70% of the borough is currently engaged in sustainable energy practices
Initiatives improve natural environment and entice potential residents to live in State College
This sustains the community’s population and overall conscientiousness of sustainable practices
“purchasing energy, installing rain gardens, recycling food waste, and restoring
wetlands”
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Engineering
Department has conducted research
over course of 10 yearsRegards environmental sustainability of industrial manufacturing and residential housing
Collaboration with MIT faculty to produce sustainable solutions for cast iron foundries
Goal of minimization of energy consumption, pollution, and materials use
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Smeal College of Business
Highly involved in sustainability efforts
Smeal Sustainability Council Five Year Action Plan Development of sustainability
practices and concepts through research
Sustainability applies to many
business disciplines
APEX Capstone Project Real world sustainability
challenges for MBA students
Penn State Net Impact (PSNI) Educates students about
importance of CSR and sustainability
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Smeal Continued
Smeal Outreach:• 2011 Advanced Manufacturing Forum
• The R. Hadley Waters Supply• Chain Symposium:• Centralized on supply chain initiatives to reduce carbon footprints and maintain profits
Smeal Green Team:• Promotes environmentally sustainable business practices• Externally: generates awareness of financial importance of environmental sustainability
• Internally: identifies cost effective green opportunities for Penn State
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Agricultural Sciences
Promotion of sustainable food and agriculture systems
Penn State Sustainable Ag Working Group (PSU-SAWG)
• Collaborates with farmers/ government and non-government entities
• Integrated sustainable agriculture systems
Environment Economy Society
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LEED Certification
LEED is the official standard for sustainable architecture
Penn State currently has 15 LEED certified buildings
Stuckeman Family Building Gold ranking Exterior is recycled copper and brick
• Rainwater recycling system on roof for irrigation• Storm water management for flood prevention
Advanced green technology in interior• Natural ventilation systems• Automated lighting
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Business Summary
Cost minimization through ecofriendly practices
Penn State maintains its
operations while still saving money
Use of adaptive
methodologies
Recycling
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Recycling and Waste Management
Diverts 65% of solid waste from landfills
• Saves on disposal costs
Mobius initiative• Improve campus composting
to increase waste diversion to 75%
• Eventually 85% with miscellaneous plasticsRecycles 200
tons of plastic annually
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Reduction of Waste
Penn State Food Services• Reduction of plate sizes• Local vendor purchasing• Donation of leftover food • Training students and staff on
sustainable practices
Penn State PurchasingMaximization of purchasing value
Hydration stations
Air dryers replacing paper towels
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Team Six Conclusion:
Bank of America has a very sustainable corporate environment and conducts multiple operations in synergy with Corporate Social Responsibility
Penn State strives to educate its students in the areas of sustainability and is continuing to expand in this field.
Penn State also strives to stay sustainable as an economic entity through its business operations, including recycling, reducing, and better managing.
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Works Cited
"Bank of America." Bank of America Corporate Social Responsibility 2013 Report. N.p., n.d. Web. 4 Aug. 2014. <http://about.bankofamerica.com/assets/pdf/Bank-of-America-2013-
Corporate-Social-Responsibility-Report.pdf>. "Bank of America." Bank of America Shows Progress in Six Key Areas. TriplePundit, n.d. Web. 4 Aug. 2014. <http://www.triplepundit.com/2012/08/bank-america-2011-csr-report/>. Carroll, Richard. "Santa Monica." howstuffworks. N.p., n.d. Web. 10 Aug. 2014.
<http://adventure.howstuffworks.com/los-angeles-city-guide.htm>. "INTERVIEW: Serge Appel Talks to Inhabitat About One Bryant Park Read more: INTERVIEW: Serge
Appel Talks to Inhabitat About One Bryant Park | Inhabitat - Sustainable Design Innovation, Eco Architecture, Green Building." Inhabitat. j, n.d. Web. 4 Aug. 2014. <http://inhabitat.com/serge-appel-on-one-bryant-park/>.
"Phoenix Solar, Silicon Ranch Corp. to build 38.6 MW Georgia solar plant." Discover What CMI Can Do for You! PennWell, n.d. Web. 5 Aug. 2014. <http://www.power-eng.com/articles/
2013/07/phoenix-solar-silicon-ranch-corp-to-build-386-mw-georgia-solar-plant.html>. "Sustainability." Building Owners and Managers Association International. N.p., n.d. Web. 4 Aug. 2014. <http://www.boma.org/sustainability/Pages/default.aspx>. "Sustainability." City of Burnsville. N.p., n.d. Web. 5 Aug. 2014. <http://www.ci.burnsville.mn.us/
index.aspx?NID=842>. "Sustainability." Sustainability Campaign. Adam Winnik, n.d. Web. 10 Aug. 2014. <http://
www.adamwinnik.com/index.php?/project/sustainability-campaign/>.