Standard Chartered Bank has acquired stake in a wind farm to source green energy for one of its office in Chennai. The bank in recent times have been targeting improvements in energy and resource efficiency in its buildings and has taken a 26 per cent stake in Green Infra. This will provide the bank with to source over 1.5 million units of electricity annually for its office building on Rajaji Salai in north Chennai. The stake will help meet over 85 per cent of the building’s energy needs, Ravi Duvvuru, Regional Head-Regulatory Compliance, India and South Asia was quoted as saying by Hindu Business Line.
Standard Chartered has more than 20 large buildings more than 10,000 sq ft each and plans to enhance energy efficiency, water use efficiency and reducing paper wastage are on, he said. Energy efficiency initiatives are planned for Pune office as well.
Earlier, the bank had a similar initiative where it tied up for supply of 12.5 million units of electricity annually for its office in Haddows Road from renewable sources. In addition, it also embarked into a build, own, operate, transfer arrangement with SunEdison, to set up a 100 KW solar power generation facility.
Standard Chartered annually recycles nearly 100 tonnes of paper through a waste paper recycler targeting waste reduction. It has cut down on installing printers as well. Conservation of water and energy besides saving on resources are targeted on annual basis. Paper usage was about 27 kg for every full-time employee in 2010, now the company has cut it down to about 20 kg this year. Electricity use has been cut to about 342 kWhr a sq m to 370 last year. Lights in its ATMs are being converted to LED fixtures and 10 ATMs, two in each city, will be soon powered by solar.