Our Environment
Our journey to Net Zero has begun. The Bank is determined to lead the Green transition of Cyprus firstly by acting as a role model in the running of its own operations while at the same time engaging with its customers and supporting them in materialising their own Net Zero ambition.
Financing the Net Zero Economy
- Transition to a Net Zero Economy, committed to align financed emissions from our portfolio of customers to Net Zero by 2050.
- Joined the Partnership for Carbon Accounting Financials (PCAF) and estimates Financed Scope 3 GHG emissions associated with the loan and investment portfolios.
- Setting decarbonization targets on specific sectors and asset classes aligned with specific climate scenarios that will be reflected in the business strategy and financial planning.
- Continue to cooperate with our clients and provide support in their transition journey to Net Zero.
Carbon Neutral in own operations
Εstimated GHG emissions from own operations and designed a strategy with energy efficiency actions to become carbon neutral by 2050. The Group has set an interim target in line with carbon-neutrality ambition in own operations to reduce Scope 1 and Scope 2 GHG emissions by 42% (absolute target) by 2030 compared to the baseline of 2021.
Our impact on the environment and the society
As the Environment is one of the five pillars of our Corporate Social Responsibility strategy, we create partnerships to tackle the climate crisis, putting emphasis on:
- Awareness - Education
- Prevention - Response
- Recovery - Mitigation of climate change consequences
- Protection of biodiversity