Nationwide Building Society

Nationwide Building Society

October 21, 2005 05:01 ET

Nationwide Goes Greener With Renewable Energy

SWINDON, ENGLAND--(CCNMatthews - Oct. 21, 2005) -

No embargo

Nationwide Building Society has taken a positive step in protecting the environment by entering into a one year contract, from October 2005, to buy its electricity from renewable energy sources, such as wind, new hydroelectric and biomass.

As a result, when the electricity Nationwide uses (in its branch network and other buildings) is generated, it will not add to greenhouse gas emissions and associated global warming problems. This is a significant step forward in support of Nationwide's sustainability objectives, which are described in more detail in their latest sustainability report, Better Society at http://www.nationwide.co.uk/bettersociety/default.htm

David Bailey, Nationwide Property Services' energy manager, said: "I'm delighted that we have been able to buy all our electricity from renewable sources. We can be proud to be one of the organisations which are taking an active part in stimulating the market to invest in green electricity generation. Improving our energy efficiency is still high on our agenda and we would encourage all employees to do what they can to reduce the energy we use.

"Thanks to the effect of the government's tax break for electricity generated in sustainable ways, the additional cost to the Society over 'traditional' electricity is less than 0.2% of the electricity bill. This made the decision simple, particularly as the environmental benefits outweigh this small additional cost."

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Contact Information

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    or
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