Ambition carbon neutral by 2026: Komerční banka's climate commitment

Published on 07/01/2021

Komerční banka (KB), the Group's subsidiary in the Republic Czech, has made a commitment to achieve carbon neutrality within 6 years. Responsible and sustainable business is part of the newly introduced strategic plan of KB for the next five years. Reducing greenhouse gas emissions by 80% will be a major intermediate step. The climate change prevention commitments of Komerční banka were signed by top management in a nine-point document.

"We want to make an active contribution to slowing down climate change, and at the same time to be a good example for others. We believe that banks are the driving force not only of economy, but also of sustainability promotion. Our role is to do responsible business, but also to support "green solutions" for clients and, conversely, to phase out the financing of industries with a negative impact on the environment " said Jan Juchelka, Chairman of the Board and CEO of Komerční banka.

"In line with Societe Generale's commitment, our parent company, Komerční banka will provide transparent information on its corporate policy, emission reduction targets and the results achieved in reducing its carbon footprint. We will also seek the maximum involvement of our business partners, clients, suppliers and employees in order to improve climate conditions. We have already taken a number of measures, and we have a clearly defined plan in place for the next period, which has enabled us to commit to achieving carbon neutrality as early as in 2026" added Jan Juchelka.

In the last three years, the Bank has reduced consumption of natural gas by a quarter, heat by 15 % and electricity by five percent, introduced energy management and uses environmentally friendly cars. Other activities will be gradually added according to the Carbon Footprint Management Plan.

Last year, Komerční banka produced approximately 21 kg of greenhouse gases per client, which corresponds to a distance of approximately 1,600 kilometres travelled by a diesel car with an average consumption of 6 litres of fuel per 100 kilometres. Now, the Bank is committed to being carbon neutral by 2026. It will achieve this by partially eliminating greenhouse gases produced by its own activities and at the same time by supporting projects that absorb greenhouse gases.