The Cliffs Cottage at Furman

Some may wonder why the banking community would be interested in sustainability. But if you step back and look at the big economic picture, it’s really quite simple. On top of the motivation to do the right thing, banks are inspired to invest in energy efficiency and the environment because when the environment is as risk, so is our economy, and banks thrive when the economy thrives. When we spend more on energy as individuals, businesses or as large corporations, that’s less disposable income for buying goods and services and for saving and investing – the lifeblood of banks.

Says Kim Wilkerson, Bank of America South Carolina president, “Now more than ever, it is vital to give back to our environment. Issues of sustainability, conservation and environmental citizenship affect us all. Damage to our environment threatens the long-term sustainability of our economy, our prosperity and our way of life. At Bank of America, our environmental policies are shaped by our conviction that the health of our company is dependent upon the health of our communities, our society and our environment. Understanding that every part of our business has a potential impact on our environment, we commit to integrating environmental policy into our company's operations at every level.”

To that end, the company exercises both external and internal measures contributing to the overall health of our environment which affects the well-being of our economy. One of the external, community-oriented measures is its $250,000 contribution to Furman University which supports the Bank of America Environmental Fellows program and the completion of the Cliffs Cottage at Furman.

Fall 2008 marks the beginning of a four-year scholarship program providing $25,000 for Furman students engaged in environmental projects on campus and the Greenville, South Carolina community. Named the Bank of America Environmental Fellows program, Furman brings one fellow to campus each year who demonstrates ambition or expertise in the areas of environmental science, environmental policy, resource recovery/recycling, green purchasing and investment, food and garden issues, renewable energy, green building and a number of other environmentally related concerns. Says Wilkerson, “By partnering with Furman University, we underscore our steadfast dedication to environmental sustainability. Together, we can educate the young leaders of tomorrow who will equip future generations with the ability to speak to the collective environmental conscience of our community.”

The balance of the funds are used toward the completion of the Cliffs Cottage at Furman University, Southern Living’s first LEED certified showcase home, a model of “green” design, renewable energy, and sustainable products, processes and materials. Following the year long showcase period, Cliffs Cottage serves as the base of operations for the Environmental Fellows program and home to the Furman University Center for Sustainability.