Contra Costa Times:
The tide of green initiatives is set to wash over the Bay Area banking scene.
New Resource Bank, which was founded by an East Bay entrepreneur, is formally launching a business that plans to finance companies and organizations that emphasize green or sustainable operations.
‘We want to finance sustainable resources in the community,’ Peter Liu, a Piedmont resident who is founder and vice chairman of the bank, said Monday.
San Francisco-based New Resource Bank sees as inviting a number of industries in the green or sustainable arena. ‘Organics, green energy, green buildings, are sectors that have been growing much more rapidly than the rest of the economy,’ Liu said.
For example, the organics industry generates $15 billion in revenue and is growing at 20% a year, according to figures cited by the Organic Consumers Organization. Liu said the clean energy industry has been growing by 20 to 30% a year. ‘Our approach is that for every lending that we do we will try to finance a green business, or work actively within a community business to find a way to adopt green and efficient options,’ Liu said. Read more.
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