An energy efficient move to paperless banking

The transition from paper-based to digital banking is a welcome development for environmental sustainability. But make no mistake, this transition presents environmental challenges of its own, as a tremendous amount of energy is needed to support the mega-sized data centres that support digital banking operations on a massive scale.


We have had discussions with CIBC, Scotiabank and TD Bank to find out what they’re doing to ensure that their data centres are energy efficient.


CIBC uses cloud computing to help improve data processing efficiency. The bank also applies energy efficiency standards when making technology purchases. Scotiabank is working on incorporating cloud computing and eliminating printers. It also has a number of other energy efficiency measures in place, including the use of hydrogen for back-up power.

TD is also moving towards cloud computing and is diversifying its power sources, with measures including rooftop solar panels. VCIM also encouraged each bank to include additional disclosure in their annual sustainability reports and describe how they are managing the shift to electronic banking.

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