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EPA Awards Cambridge Savings Bank Two 2003 Energy Star Labels

Release Date: 07/15/2003
Contact Information: Peyton Fleming, EPA New England Tel: (617) 918-1008 Contact: Barbara Cox, Cambridge Savings Bank Tel: (617) 441-4175

CAMBRIDGE - Cambridge Savings Bank (CSB) announced today that its office complex and main branch in Harvard Square in Cambridge have earned the 2003 ENERGY STAR label. Only two other buildings in Massachusetts have earned the ENERGY STAR label this year.

"As a top energy performer, Cambridge Savings Bank is showing New England businesses that energy efficiency is good for our environment and good for the bottom line," said Robert W. Varney, Regional Administrator of EPA's New England office.

Since CSB began its energy program in 2000, it reduced energy use by 22% between 2001 and 2002 and saved more than 460,000 kilowatt hours, even though it added two new branches during this time period. In turn, these efforts reduced emissions of sulfur dioxide by close to 3,000 pounds, nitrogen oxide by more than 1,000 pounds and carbon dioxide from electricity generation by over 370,000 pounds, which is equivalent to planting 65 acres of trees.

"When we compare options for investing our money, energy efficiency is an easy choice to make because it's a high-return, low-risk investment that also helps the environment," said Kevin J. Fitzgerald, President of CSB. CSB's experience shows that substantial energy savings can be achieved with minimal capital investments.

"The key to CSB's success was the involvement of its close to 300 employees. CSB demonstrated that this program was not just a short-term initiative, but became a part of their culture," said Gary Markowitz, President of Kilojolts Consulting Group of Lexington, MA, who helped CSB assess and improve their energy performance.

Following ENERGY STAR's Five-Stage upgrade approach, CSB began by working with its mechanical contractors to make sure systems such as heating, air conditioning and electric were operating as efficiently as possible. Kilojolts helped CSB to develop an initiative that involved the entire employee base: every building and branch within the company was given savings goals to achieve, and each received quarterly incentives when they succeeded.

"The employee excitement and interest was evident," says Nelson Goddard, Senior Vice President of Facilities and Administration at CSB. "They constantly wanted to know how they were doing, and were looking for the next initiative that would help them improve. Employees even mentioned that they implemented some of the energy-saving techniques that they practice at work in their own homes to save money."

It's become standard practice to turn off lights and computers when employees leave their office or a conference room, and turn off all appropriate equipment. "I am proud of our employees, who embraced our energy-saving initiatives, seeing the value they have to the environment and to our community. We all view this as a long-term program and an extension of our core philosophy of supporting the communities that we serve," Fitzgerald said.

Henrietta Davis, Cambridge Vice Mayor and chair of the Health and Environment Committee, praised CSB's contribution to the community and support of the Cambridge Climate Protection Plan, which calls for a 20% reduction from 1990 levels in greenhouse gas emissions by the city as a whole by 2010. "This is exactly the kind of common-sense, cost-effective action that will help Cambridge do its part to address global warming and other pressing environmental concerns," says Vice Mayor Davis. "Cambridge Savings Bank's success demonstrates to other local companies that energy efficiency is possible, even in older, historic buildings in the city."

CSB plans to make additional investments to improve their energy performance even further. Future initiatives include: upgrading lighting, heating and air conditioning systems in several branches, incorporating state-of-the-art equipment for energy conservation in new branches, and performing quarterly audits of various facilities to monitor performance and highlight opportunities for improvement.

The EPA introduced ENERGY STAR in 1992 as a voluntary, market-based partnership to reduce air pollution through increased
energy efficiency. The program helps businesses and consumers save energy and money today while protecting the environment for future generations. Last year alone, ENERGY STAR helped Americans save enough energy to power 15 million homes and reduce greenhouse gas emissions equivalent to those from 14 million cars - all while saving consumers and businesses $7 billion.

The ENERGY STAR label is awarded to buildings that demonstrate superior energy performance. ENERGY STAR's national performance rating system ranks building energy performance on a 1-100 scale based on energy usage per square foot, normalized for weather, climate, occupancy and other factors. Buildings scoring 75 or higher that meet standards for indoor air quality, lighting, ventilation and thermal comfort are eligible for the ENERGY STAR label. Since 1999, fifty-one buildings in Massachusetts have earned the ENERGY STAR Label including K-12 schools, office buildings, supermarkets, hospitals and hotels.

About Cambridge Savings Bank
Cambridge Savings Bank is a full-service financial institution with more than $1.8 billion in assets. Headquartered in Harvard Square, Cambridge Savings Bank offers a full line of individual and business banking services. Cambridge Savings Bank has 13 Banking Centers in Cambridge, Acton, Arlington, Bedford, Belmont, Burlington and Lexington.