Citizens Bank
At a Glance
Industry
Financial Services and Insurance
Project Type
Financial Evaluation and Planning
Year
2017
Location
Cranston, RI
Summary
Lauren Menzer developed a calculator tool to assess the sustainability of different building products for Citizens Bank’s branch redesign locations.
Goals
Citizens Bank is downsizing and re-designing over 800 branch locations. Having already begun working on developing a new sourcing standard, EDF Climate Corps fellow Lauren Menzer was brought on to create the Sustainable Sourcing Matrix and develop a colleague training program for architects, interior designers and site developers. The matrix would help to assess qualitative sustainability factors and translate them with ease into a measurable, quantitative metric to source sustainable products, enhance employee well-being and meet environmental goals within cost needs.
Solutions
Menzer developed the customizable Sustainable Sourcing Matrix into identifiable tiers to benchmark new branch site products:
- Product Benchmarking. A weighted, points-based system that quantifies products’ sustainability benefits, sustainability certifications and cost based on square footage or units.
- Cost Comparison A secondary analysis, built off of price per unit or square footage and redefined as a numerical score, from which Menzer created an additional five-year financial projection for products that have associated utility costs.
- Visual Analysis The aggregated score from the three benchmarking tiers are composed into a visual representation comparing sustainability benefits vs. cost.
- Colleague Training Program and Guide A step-by-step guidance document provides a detailed outline for project managers to understand the significance of the Sustainable Sourcing Matrix and how to use it.
Potential Impact
If implemented in full, Menzer’s Sustainable Sourcing Matrix has the ability to greatly reduce Indoor Air Quality concerns and maximize environmental benefits of sourced products. This foundational document provides Project Managers a tool to gain experience with sustainability standards and apply similar thought processes within and beyond Citizens Bank.