GlobalData offers a comprehensive analysis of Erste Group Bank, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Erste Group Bank‘s ESG performance. GlobalData’s company profile on Erste Group Bank offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Erste Group Bank, a leading banking institution, is committed to the Paris Agreement and is prepared to contribute to limiting global warming to 1.5 degrees. The company's focus extends beyond transforming its operations to addressing the impact of climate change on its investment and finance activities. In response to this challenge, Erste Group aims for a net-zero portfolio by 2050, guided by stringent sustainability criteria for its investments and finance.
In 2022, the company reported Scope 1 emissions of 20,707 tCO2e, Scope 2 emissions of 18,686 tCO2e and Scope 3 emissions of 54,578 tCO2e. It successfully decreased its Scope 1 and Scope 2 emissions by 11%, reducing the total from 44,414 metric tons of CO2 equivalent to 39,393 metric tons of CO2 equivalent. The market-based Scope 2 emissions resulting from purchased electricity witnessed a decrease of 26%. Additionally, the company aims to achieve an 80% reduction in Scope 1 and Scope 2 emissions by 2030, as compared to the baseline year of 2017, with interim goals of 55% reduction by 2023 and a 60% reduction by 2025.
Erste Group Bank is expected to invest in emission reduction initiatives and continue implementing sustainable practices in its operations. The bank's membership in various sustainability-focused organizations, such as the Net Zero Banking Alliance and UNEP FI, indicates its commitment to addressing climate change and reducing its environmental impact.
In conclusion, Erste Group Bank has set net-zero targets to reduce its carbon emissions. The bank is committed to measuring and reporting its emissions. It is expected to take further steps and investments to achieve its net-zero targets and contribute to a more sustainable future.
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