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MONETA Money Bank to Reduce its Carbon Footprint by 35 Percent by 2020

Company: Amcham

As the Earth Day is approaching, MONETA Money Bank declares its commitment to significantly reduce its carbon footprint1 . The Bank plans to achieve a reduction in emissions of carbon dioxide equivalent (CO2e) by 35 percent by 2020 through the introduction of five specific measures. Carbon footprint reduction is part of the sustainable development strategy at MONETA Money Bank, which is the fourth largest domestic bank with one million clients. 

Initial analysis of emissions showed, that the main sources at MONETA Money Bank are electricity consumption, heat production and fuel consumption of the corporate fleet (petrol and diesel). To reduce its carbon footprint, the Bank has decided to introduce five key measures. These are gradual introduction of green electricity at all our more than two hundred branches, purchase of green electricity for our head office buildings in Prague and Ostrava, continuous decrease of the number of branches heated by fossil fuels, decrease of the total number of company vehicles from the current five hundred and replacing most of our diesel-fuelled vehicles by electric cars. The Bank has already started operating almost twenty electric cars out of the 150 ordered so far. “We feel responsible for the environmental impact of our activities and are, therefore, seeking innovative solutions in this area. In addition, we support responsible approach towards the environment in our staff, suppliers and clients,” said Tomáš Spurný, CEO and Chairman of the Management Board of MONETA Money Bank. MONETA Money Bank’s commitment to reduce its carbon footprint by a third by 2020 is part of Bank’s sustainable development strategy. “We understand sustainable development as a certain competitive advantage and investment into the future. We want to create value for our customers while ensuring sustainable growth of our company, including stable return for our shareholders,” Tomáš Spurný said. Measurement of MONETA Money Bank’s carbon footprint, as well as other companies in the MONETA Group 2 takes place in accordance with the international GHG protocol providing accounting and reporting standards and calculation tools for companies and governments. They use it to measure the amount of greenhouse gases resulting from their activities and in case of MONETA Money Bank, it covers measurable greenhouse emissions within Scope 1 (direct emissions) and Scope 2 (indirect emissions from energies).

1 Carbon footprint is an indirect indicator of energy, product and services consumption. It measures the amount of greenhouse gases corresponding to a company’s activities or products. Carbon footprint consists of several greenhouse gases; therefore, carbon dioxide is the common denominator. Other gases have different effectiveness in terms of their contribution to the Earth’s global warming. Methane, for example, is 25 times more effective than CO2, so it has to be multiplied by 25 and then added to CO2. The result is then expressed as tonnes of CO2e (CO2 equivalents). 2 MONETA includes companies MONETA Money Bank, MONETA Auto, MONETA Leasing and Inkasní Expresní Servis.

Tags: Finance | CSR | Health |

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