Greentech Lead America: Eastern Bank, a commercial bank
headquartered in Boston, has signed an agreement with Constellation Energy to
help protect the environment by greening 100 percent of its electricity use
with renewable energy certificates (RECs).
Under the agreement, Constellation will supply more than
30 million kilowatt-hours of electricity to Eastern Bank’s 94 branches and five
corporate centers for the next three years.
The energy provided will be greened through Constellation
renewable energy certificates, a key factor in Eastern Bank’s decision making
The energy deal was brokered through Taylor Consulting, a
national utility management firm specializing in deregulated energy procurement
and regulated utility consulting.
“Eastern Bank is proud to work with Constellation
Energy in an effort that protects the environment and provides our offices with
‘green energy. We are committed to promoting sustainable environmentally
friendly business practices and encouraging bank employees, customers and the
community to adopt green practices into their lives” said Eastern Bank’s
Thomas Dunn, senior vice president, general services director.
The RECs supplied to Eastern Bank by Constellation Energy
are Green-e Energy Certified and sourced from wind energy.
“Eastern Bank was looking for a greener energy
option from their energy supplier and by supplying renewable energy
certificates we were able to meet their needs,” said John Bennett, vice
president of sales for Constellation Energy.
The RECs give developers of renewable energy a
market-based, financial incentive to build wind, solar and other forms of
renewable energy. One REC is created for each megawatt-hour of renewable power
that is delivered to the electric grid. Once a REC is sold, it is retired,
ensuring that each REC is only used once.