18th April 2007

Citizens Bank of Canada, in partnership with the Conservation Council of Ontario (CCO) and Green$aver, unveiled a "Green Mortgage" in downtown Toronto at the Centre for Social Innovation.

The Citizens Bank "Green Mortgage" allows Ontarians to secure a mortgage at competitive rates that goes further than any other to satisfy their energy conservation needs.

"Today's announcement signifies a new level of member care and social responsibility in Canadian banking services," said Jason Farris, president and CEO of Citizens Bank of Canada. "The partnership formed between Citizens Bank of Canada, the Conservation Council of Ontario and Green$aver allows borrowers to match their environmental desires with their financial needs. We embrace the opportunity to help Ontarians conserve energy and reduce their environmental impact."

Each "Green Mortgage" holder will receive a blue curb-side recycling box containing ten compact fluorescent light bulbs, a registration rebate for a Green$aver Home Energy Audit, product samples, and coupons for trees, renewable power, car-sharing, and other environmental products and services, with a retail value of over $800.

Citizens Bank of Canada was an early supporter of environmental and ethical financial programs and is the only bank in Canada with an ethical policy that publicly states its position on key social and environmental issues. Citizens Bank of Canada is the first Canadian bank to commit to neutralize their carbon dioxide (C02) emissions by 2010.

"Citizens Bank of Canada is setting a new standard for eco-mortgages," said CCO executive director Chris Winter. "Not only is the bank taking steps to reduce its own carbon emissions to combat climate change, it's making it easier for homeowners to improve the energy efficiency of their own homes and help build a conservation movement across Ontario. The enthusiasm demonstrated by Jason Farris and his staff, combined with the opportunity to reach individuals and the community in a real way, is something we are proud to be part of."

Green$aver president and CEO Vladan Veljovic added that, "Having companies like Citizens Bank of Canada provide these types of services demonstrates that market-driven incentives are not only possible, but are now accessible to the average household. Green$aver looks forward to working with Citizens Bank of Canada and other like-minded partners in promoting this initiative to the benefit of Ontarians."