We are on the way to Net-Zero by 2050
Creating a future worth living for the next generations requires both big and smaller actions. They range from financing sustainable projects and enabling sustainable investments to supporting sustainable economic growth as well as measures to reduce our own ecological footprint.
Our decarbonization targets
Erste Group has the ambition to achieve a net zero status of its portfolio by 2050. To support this ambition, Erste Group has defined sectoral decarbonization targets for eight high-emitting sectors. Erste Group regularly publishes the progress made toward its decarbonization goals in its sustainability statement.
The differences in emissions and progress in climate-friendly technological innovations between sectors are significant. Two sectors with that represent big decarbonization levers in our region are real estate and energy.
In order to reduce emission levels in residential and commercial properties, we support our clients in improving the energy efficiency and thermal insulation of buildings and promote the use of renewable energies (e.g. photovoltaics) and low-emission heat generation (e.g. geothermal energy, heat pumps) instead of fossil fuels such as coal, oil and gas.
The transition of the energy sector to low-carbon power and electricity generation is crucial for the whole economy, but especially for the construction sector and industry, and is also an important prerequisite for the electrification of transport. The energy transition requires investments in renewable energy sources (sun, wind, biogas) and the conversion of existing district heating systems from coal to waste incineration, biogas or heat pumps. We already support our customers in this transition by cleaning up their existing technology mix and investing in new plants with renewable energy sources.
Decarbonisation?
Means that the economic system moves "away from carbon" - especially from CO2 emissions. For the energy industry, for example, this means moving to renewable, low-carbon energy.
Financing a sustainable economy
We are among the market leaders when it comes to capital market instruments that support the green transformation of companies.
Out of coal with wind power
Rail as the first choice for freight transport
CO₂-free heating and cooling for 1020
Participate in green transition
with sustainable funds
For more than 20 years, we have been offering our customers the opportunity to invest in over 40 sustainable funds, 16 of which have already been awarded the Austrian Eco-Label. Today, we are the market leader in Austria and CEE. Erste AM manages assets of 70 billion, of which more than 20% are sustainable - and the trend is rising.
With our funds, our customers benefit twofold: they not only profit from an attractive return, but can also actively participate in the green transformation.
Our funds invest, for example, in companies, organisations and funds that have a measurable positive impact on the environment or society. We also offer our clients a fully sustainable investment range with just one click via Invest Manager, the digital investment management tool in George. This gives them the opportunity to invest directly in sustainable funds according to ESG criteria.
Ecological impact of banking operations
Business operations of financial institutions typically only have limited direct impact on climate change compared to the indirect environmental impact through the loan portfolios. Nevertheless, Erste Group targets a 90% reduction of scope 1 and 2 emissions from its own operations. We already put in place several measures to achieve this ambition such as the electrification of our carfleet, increasing the share of green electricity and transitioning away from fossil fuel energy sources for our branches.