Bank of Valletta (BOV) is on Thursday commemorating World Environment Day as a “reminder that we cannot turn back time, but whether as individuals or as entities, we need to get active to sustain the earth and let nature have its say”.

As it has done in previous years, BOV says it is reaffirming its commitment to safeguarding the environment, with various initiatives aimed at encouraging both staff members and customers alike to speak up for the environment.

“As one BOV team we collectively put in place considerable efforts to support and accelerate environment-friendly initiatives”, said Charles Azzopardi, Executive PR & Marketing at the Bank.

“The environment continues to play a significant role in the Bank’s Community Relations Programme, where we actively encourage our employees, customers and key stakeholders to give serious consideration towards a greener planet”.

BOV employees are currently engaged in a “Go-Green” initiative, whereby they analyse their unit’s operations to identify areas where they can reduce the negative impact on the environment. The Bank describes the preliminary outcomes of this initiative as “so far remarkable”.

For example, it says, one unit is saving over 1,500 printed sheets of paper every month by switching physical product information guides to electronic versions. Another department transformed into a completely paperless office and has self-appointed sustainability champions to ensure that the office remains paperless.

Aside from BOV’s contribution through its Environmental and Social Governance strategy, the Bank is striving to ensure its product suite also includes specifically designed solutions to encourage customers to “take the green leap”, according to Kenneth Farrugia, BOV’s Chief Retail Banking Officer.

The Bank’s range of energy loans aim to provide its customers with affordable financing solutions to support customers’ transition from carbon dependence to green alternatives such as equipment and fixtures that generate renewable energy and promote energy efficiency.

Moreover, the bank is “delighted” to see the shift from traditional to digital banking as this is one tangible way to help reduce environmental degradation.

“Other initiatives such as the switching from paper-based Bank statements to e-statements translated into a reduction of over one million sheets of paper and 500,000 envelopes are being saved every year”, according to Mr Farrugia.