PaperCutz 4 Planet Ark

Date: 08-Sep-09
Author: Michelle Cook

Brian Bissaker, CEO of Colonial First State, is taking on a second job as a sustainability campaigner. He is teaming up with Planet Ark to recruit his peers in the other major financial services companies to join the ‘PaperCutz 4 Planet Ark' program.

Colonial First State have been working with Planet Ark on a pilot program aimed at reducing the huge amounts of mail that goes out to investors - resulting in huge savings for the environment, and their bottom line.

So far, 170,000 Colonial First State clients have elected to receive documentation, such as annual reports and account statements, electronically.  "Our primary role is to look after the long-term investment goals of our investors, but more and more I'm hearing that our investors want us to do this in a way that is mindful of our environment and the impact we have," Mr Bissaker said.

"This has led to huge environmental savings," according to Sean Barrett, CEO of Planet Ark.  "On average each tonne of paper removed from commercial correspondence saves an estimated 18 trees, 67,500 litres of water, 9,500 kWh of energy and 3.3 tonnes of greenhouse gas emissions."

Through ‘PaperCutz 4 Planet Ark' Colonial First State have saved over 90 tonnes of paper from going into circulation. Do the maths and it adds up to impressive environmental results that contribute directly to the financial giant's triple bottom line and sustainability achievements.

Add cost savings to the equation and you have a winning program. When viewed a part of their broader sustainability initiatives, Colonial First State now save over $4 million in production, distribution and power costs each year, and they've helped the environment a second time over by so far donating over $340,000 to Planet Ark's educational environmental campaigns and programs on behalf of their clients.

So impressed is Bissaker by the success of the scheme that he is going to lobby the heads of other financial services companies and recruit them to the ‘PaperCutz 4 Planet Ark' program.

"The financial services industry produces huge volumes of information for its clients," said Bissaker.  "Much of that information can be delivered electronically.  By teaming with Planet Ark we have converted 1 in 5 customers to electronic receipt of some documentation."

"This is a no-brainer: it is good for the environment, and good for business.  I'm happy to share our experience with others in the industry and get them involved in ‘PaperCutz 4 Planet Ark'," said Bissaker. "Our relationship with Planet Ark has helped us see that you can make achievable,  tangible environmental changes in the workplace where everybody wins."

"This pilot program is important because it proves that incremental gains can be meaningful," said Barrett.  "While there is vigorous debate over meeting the carbon challenge and achieving sustainability, it is vital that companies demonstrate a determination to act on behalf of the environment.  Australians are doing their bit at home and they want to see business making an effort too."