We are on the way to Net-Zero by 2050
Gemeinsam nachhaltig besser werden
Finanzierung einer nachhaltigen Wirtschaft
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
As a member of the United Nations Net Zero Banking Alliance (NZBA), we have committed to achieving net-zero (net-zero emissions) by 2050 to do our part to combat the climate crisis. In the non-financial report 2022, Erste Group publishes its decarbonization targets for the first time. Based on this, we identify critical, emission-intensive sectors in our portfolio and will try to find solutions together with our customers.
Net-Zero?
is achieved by companies when CO2 emissions have no netto climate impact due to their activities within the value chain. When the world reaches this state together, global warming stops.
Energy sector and real estate have priority
The differences in emissions and progress in climate-friendly technological innovations between sectors are significant. In our approach, we have prioritized sectors where decarbonization poses the lowest risk and creates clear value for our customers.
Our decarbonization targets
In order to reduce emission levels in residential and commercial properties, we will improve 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.
Targets for oil, gas, cement, automotive, iron and steel follow
We will further develop the net-zero approach of our portfolio in order to continue to cover a large part of the emission-intensive segments and to support our customers in the green transformation. In 2023, we set targets for Oil, Gas, Cement, Automobile, Iron & Steel. In addition, we examine the opportunities for the agricultural sector on the basis of a feasibility study.
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’s ambition has been for quite a while to reduce its direct ecological footprint.