Credit crisis good for the environment

Source: http://feeds.feedburner.com/~r/GreenDaily/~3/33936...

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Americans aren’t the only ones facing lean times right now. Our little subprime lending problem has traveled overseas and is directly affecting European banking. Fortunately your friends at Green Daily have discovered a silver lining. Less money in the bank means good things for the environment.

Europeon bankers involved with mergers and acquisitions are responsible for nearly 98,000 tons of carbon dioxide over the past year as they jetted around the continent to close deals. That number is equal to the total annual emissions of 8,000 average Brits. Now banks are looking to save money and travel is one of the first items to get cut. Bye bye expense account.

Not only that but the business was responsible for the use of 112 million sheets of paper or around 13,000 trees. Now more data is being stored online and electronic transfers are preferred over paper checks. These methods save money for the banks but also a few trees.

See? Global recession: Not so bad! You heard it here first.

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