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Greener Than Thou: BofA Greenwashes Your Mortgage

Greener Than Thou is our report on San Francisco’s obsession with all things green, calling bullshit in the poseurs and lavishing praise on those who have secured their place in environmental paradise. Easy being green for you? Preach to the choir!

So we try not to run Greener Than Thou too much, but so many have risen to the occasion this week that we simply must give credit where credit is (or isn't) due. And so we have mortgage bailout patron saint Bank of America, who is trying to distinguish itself from other floundering financial institutions by embracing green initiatives— a little marketing trick that some like to call "greenwashing." Looking for ways to help homeowners, BofA is researching large-scale leasing of solar panels, a strategy they hope will mitigate the largest hurdle to solar installation — the high initial costs. 2020 here we come. They're also hoping to establish new standards for "green mortgages," (which will hopefully return some of the green homeowners shell out to the bank each year). On the commercial front, Bank of America is thinking even bigger with potential financing of solar power, wind power, and..."giant buoys that capture energy generated by ocean waves." Sweet. The new environmental task force will be up and running in the next couple months, so hold on, hippies.
· BofA to target green technology [SF Business Times]
· BofA Environmental Overview [BofA website]