Online Banking Could Save 16.5 Million Trees

A report released today estimates that Americans could prevent the logging of 16.5 million trees every year by switching to Internet banking that avoids paper bills, statements and checks. The study, by Javelin Strategy & Research, is called "2007 Online Banking and Bill Payment: Trends, Forecasts, and Strategies for Reinvigorating Growth and Adoption."

The company provides "independent, industry-specific, quantitative research and strategic direction for payments and financial services initiatives." Americans already save a significant amount of trees, as 53% currently use online banking services -- a percentage expected to rise to 67% by 2012. The savings envisioned assume a 100% switch to paperless banking. Doing so would also:

• Reduce fuel consumption by 26 million BTUs -- enough energy to provide electricity to every home in San Francisco.
• Decrease greenhouse gas emissions by 3.9 billion pounds -- equivalent to removing 355,000 cars from the road.
• Reduce wastewater by 13 billion gallons, enough to fill almost 20,000 swimming pools.
• Lower solid waste generated by 1.6 billion pounds -- equal to 56,000 fully loaded garbage trucks.
• Remove particulate and nitrogen oxide pollution (which cause respiratory illness, smog and acid rain) equivalent to taking 763,000 buses and 48,000 18-wheelers off the streets.
• Save landfill space and reduce methane emissions -- a greenhouse gas more potent, if short-lived, than carbon dioxide -- from landfills.

To read the report, click here.

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