18 July 2018

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Retired Member

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Going green

Going green

Assessing the carbon footprint of fintech and looking to the future.
A post relating to this item from Finextra:

Citi opens 'green' data centre

14 November 2008  |  9850 views  |  0
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US banking giant Citi has opened an environmentally friendly data centre in Georgetown, Texas.

Banks Can Set A Good Example With Energy Smarts

16 November 2008  |  3947 views  |  0

The Morgan Stanley tidal power generation project is clearly a potentially very good investment. Citi's smart data centre also contributes to better energy efficiency. These investments should inspire further projects, although I think Google's offshore data centre is a little ambitious and could only have been designed by someone who has never owned a boat.

The Pentland Firth tidal proposal with power cabled to shore also has the potential upside of possibly powering more than the bank's needs, paying itself off and generating income for the bank. Citi's approach goes to reducing energry usage and cost savings and preserving the environment. If and when Morgan Stanley proceed they will no doubt be able to benefit from Citi's lead and complete the tidal package with a well designed onshore facitity.

Both approaches are positive and contribute to a brighter future.

Even if neither project turns a profit in the short term, there will be long term benefits through what we learn as a result and as more businesses and communities are encouraged to follow in their steps.

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