We act for society and our planet
For over 200 years, we have seen it as our social responsibility to provide all people in our region with access to basic financial products. With the challenges of the climate crisis, our commitment is now particularly necessary to create a fairer and more prosperous world for all. As one of the leading banks in Central and Eastern Europe, we are therefore mobilizing financial resources for climate protection and the green transformation. In this way, we are making our contribution to a low-carbon and fairer society.
For us, sustainability is the ability to act for society and our planet. Our goal is to operate without depleting natural resources for future generations. As a bank, we also refer to this as ESG, which refers to environment, social (social commitment) and governance (our attitude as a company).
Our goals
2023
over 90% green electricity in our core markets
2026
25% of sustainable corporate financing
2027
15% of sustainable retail mortgages
2028
30% members of the underrepresented gender in B-0 positions
33% members of the underrepresented gender in B-1 positions
2030
We stop coal financing and achieve net-zero operational emissions
Provided a total of 1 billion euros for social banking customers and 200,000 jobs, and built 10,000 affordable housing units
2050
Net Zero portfolio: balance between CO2 emissions produced and taken out of the atmosphere and a state at which global warming stops
Financing a sustainable economy
Bringing Trucks onto Rails with Vegatrans
Wind power for Romania
Renewable energy for Gösserhalle in Favoriten
Poland's energy transition through wind power
The path to sustainable packaging
CO₂-free heating and cooling for 1020
Out of coal with wind power
Rail as the first choice for freight transport
Policies
The Code of Conduct provides a reference point for our actions and behaviour and serves as a binding set of rules governing the behaviour for our daily business activities.
It describes what is important to us and makes our commitments clear and sets the basis to act as a good corporate citizen. The Code of Conduct shows that we need to act responsibly, respectfully and sustainably in all aspects of our operations.
The Code of Conduct for suppliers ensures that the basic principles and standards of Erste Group are adhered to by all persons and companies with whom we have business relations. Here you can find more information about supplier general documents.
Our goal is to create principles of responsible finance for socially, environmentally and ethically sensitive sectors. As a result, we have created the following policy.
Erste Group's sustainable finance framework reflects the bank's strong commitment to its ecological and social responsibility in society. The framework defines the scope of sustainable project categories with either environmental and/or social aspects for which money on the bond market will be used. An independent Second Party Opinion conducted by ESG rating agency ISS ESG certifies the full alignment with best-practice approaches in the market.
Erste Group sees diversity and inclusion as an integral part of its business strategy and as a key point in being attractive as an employer.
Ratings, Indices & Awards
In October 2018, Erste Group was awarded prime status in the ISS ESG ratings.
In 2019, Erste Group received a rating of AA (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment.
The use by Erste Group Bank AG of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Erste Group Bank AG by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
Since February 2021, Sustainalytics, a leading ESG research, ratings and data firm, has assessed Erste Group to be at low risk of experiencing material financial impacts from ESG factors.
In 2022 Erste Group participated in the Carbon Disclosure Project (CDP) Rating for the first time and achieved a good rating of ‘B’.
Erste Group has been part of the Euronext Vigeo Index Eurozone 120 since June 2018.
This index contains companies that provide the most advanced environmental, social and governance services. The index components are reviewed every 6 months in December and June.
Erste Group is included in the Vienna Stock Exchange’s sustainability index since its launch in 2008.
FTSE Russell confirms that Erste Group has been independently assessed against the FTSE4Good criteria and has met the requirements to become a constituent of the FTSE4Good Index Series. The FTSE4Good Index Series was developed by global index provider FTSE Russell and is designed to measure the performance of companies that have strong ESG (Environmental, Social and Governance) practices.
At the beginning of 2019 imug Investment Research raised the rating for Erste Group from neutral to positive, and public sector covered bonds (Öffentliche Pfandbriefe) are now rated as very positive.
Erste Group won two Sustainable Finance Awards in 2022: the Sustainable Finance Country Award - Austria and Outstanding Leadership in Sustainable Infrastructure Finance - Regional Award Central & Eastern Europe.
Memberships and Partnerships
In 2015 Erste Group joined the UN Global Compact thus committed itself to adherence to the UN Global Compact principles of ethical and ecological business conduct.
Erste Group is a member of the Financial Initiative of the UN Environmental Program (UNEP FI), a partnership between UNEP and over 400 banks, insurers, investors and institutions.
Erste Group commits to the UNEP FI Principles for Responsible Banking, the first-ever global sustainability framework for the banking industry. With that Erste Group commits to align its business strategic global goals such as the Sustainable Development Goals and the Paris Climate Agreement.
Erste Group is the first bank based in Austria and Central and Eastern Europe to join the United Nations’ Net-Zero Banking Alliance (NZBA) initiative. Together with 95 banks around the globe, the banking group commits to aligning its lending and investment portfolio to net-zero emissions by 2050 at the latest.
The ICPDR and Erste Group believe in sustainable water and river basin management to ensure good status of all waters in the Danube River Basin and strive to enhance public awareness regarding the restoration of water bodies and the protection of clean water resources in the Danube River Basin across Central and Eastern Europe.
Erste Group is a member of PCAF (Partnership for Carbon Accounting Financials) since 2021. We commit to report our financed emissions following the methodology developed by PCAF within three years.
Erste Group supports the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures).
We are the first financial institution in Europe to join the Green Consumption Pledge. Among other things, we are committed to increasing the number of sustainable investment products we offer and to providing our clients with more information on ESG issues and sustainable financial products.