Major banks sign clean power agreements with Bullfrog Power
TORONTO, ONT-Two leading Canadian banks have signed agreements to purchase emission-free electricity from Bullfrog Power. RBC Royal Bank has expanded its commitment to purchase renewable green power for all new locations expected to open across the country throughout 2007 and 2008. This initiative will boost RBC's green energy consumption to more than 7,000 megawatt-hours (MWh). RBC currently purchases green power from Bullfrog Power for 23 locations in Alberta and Ontario, and is renewing and expanding its current contract with Bullfrog Power for new retail locations to be opened in these provinces. By the end of 2008, more than 70 retail banking and insurance locations across the country will be bullfrogpowered, a move that RBC expects will reduce its greenhouse gas (GHG emissions by over 5,000 tonnes annually, and other harmful emissions by more than 20 tonnes annually. At the same time, BMO Financial Group has purchased 5,000 MWh per year of emission-free electricity from Bullfrog Power. Up to 53 branches in Ontario and Alberta will be bullfrogpowered, including the bank's flagship branches at First Canadian Place in Toronto and First Canadian Centre in Calgary. Jim Johnston, director, environmental sustainability for BMO Financial Group, said the purchase "will ultimately reduce our overall carbon emissions footprint by more than 3,000 tonnes per year."