US banks own up to energy efficiency failings

Banking officials at a conference in New York City have reportedly admitted that despite their statements about the importance of energy savings, they are reluctant to lend money in practice.

Green soundings from banks such as JP Morgan Chase may be flavour of the month but in reality, “We don’t have a lot to show for it,” Granville Martin, the bank’s executive director of environmental affairs told a panel meeting at the Advanced Energy conference, according to the Greentech Efficiency website.