As the outlook of our nation’s financial system comes into question so too has the progress of our country’s acceptance of sustainability been slowed. While the government continually downplays any goals of nationalization, the market has clearly presented how far it is from being convinced. So what happens to sustainability if the banks fail? Well aside from the lack of funding to innovation in the green industry, Bank of America has risen to be a model for green business in the U.S. and a lack of financial solvency would be a striking blow when the movement needs their example the most.
As we speak the final touches are going up on Bank of America’s new corporate headquarters at One Bryant Park (See here for full building case study) on the corner of Sixth Avenue and 42nd Street in New York that will complete the city’s most environmentally conscious skyscraper. Designed by Cook+Fox Architects and striving to achieve LEED Platinum status from the U.S. Green Building Council, the tower is a testament to what can be achieved when sustainability is considered a priority.
The building provided an even better example of emerging green acceptance because of the nature of the client. While so many people question the cost vs. return of building green, this was a bank, one of the largest in the world, that was convinced of the benefits of an ecological end.
While the financial hardships of BoA have nothing to do with the construction of their new home, the timing could not have been worse as greentech companies are watching orders dry up and prices of their products falling. As of today, the bank claims their financial position is good and will require no further money from the government. We can only hope so.