Word: sullivane
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...neutral-the first major bank to do so-by January 2006. The principle is simple: the bank spends its cash on green energy projects that reduce CO2 emissions by the same amount the bank creates. "We realized we had to go above that 'business as usual' scenario," says Francis Sullivan, HSBC's adviser on the environment, speaking from the corporation's towering London HQ. The bank was already spending $7 million annually to boost the energy efficiency of its buildings but, says Sullivan, "we cannot generate all the electricity, heating, cooling and lighting we need from CO2- free sources. Buying...
...plan is not without its flaws. For one thing, it's not easy to be certain the reductions being offered are real. "You could end up spending a lot of money on something that didn't exist, or had been sold to somebody else already," Sullivan says. Besides, carbon neutrality in itself is not going to head off global warming. The steps HSBC has taken are a good start, says Mike Childs of Friends of the Earth in London. "But what are they going to do to minimize the impact of their operations...
...Sullivan has an answer for that. Under the Carbon Management Task Force he set up in 2004, HSBC plans to boost investment in energy efficiency to cut emissions by 5% by 2007, using measures like automatically switching off staff PCs after hours. The bank will also be buying more of its electricity from green sources-the kind not generated from fossil fuels. Once it has come to grips with its own direct impacts, Sullivan suggests, HSBC may start offering advice to other firms interesting in offsetting their own emissions...
...Meanwhile, HSBC has already set its sights even higher. "There's nothing to stop us being carbon negative," says Sullivan, comparing HSBC's CO2 emissions to a monthly paycheck and offset credits to monthly expenses. "We could make purchases from time to time that will either take us back down to zero, or will take us negative for a bit and then we would come up again," he says. "Sometimes you're in credit, and sometimes you're in deficit." Now that's a bank talking...
...small classroom decorated with posters emblazoned with words like integrity, honor, and excellence. There are 15 cadets from different colleges, as well as an MIT pre-frosh applying for an ROTC scholarship. Four of the cadets are women, and it appears to be a racially diverse crew. Captain Brian Sullivan, who teaches the cadets military science, sits on a desk and sips coffee as he clicks through slides of weapons: M-4s, night vision devices, different kinds of grenades. “Look through the optical device here...you basically can’t miss...