PCAF report 2021 - CO2 gas emissions of BNG Bank clients decreased further
30 March 2022 - The Hague
In 2019, BNG Bank, together with virtually the entire Dutch financial sector, committed itself to reducing CO₂ emissions. As part of this commitment, BNG Bank conducts an annual measurement of the impact of lending on climate change. For this purpose, BNG Bank adheres to the widely supported method of the Partnership for Carbon Accounting Financials (PCAF), which was further elaborated for BNG Bank by the Tilburg University research department Het PON & Telos.
The report shows that the CO2 emissions of the loan portfolio fell by 118 kilotons to 2,920 kilotons in reporting year 2021 (calendar year 2020), while both the loan portfolio and the percentage of the portfolio of which CO2 emissions are measured grew. Emissions per million of euros decreased by 6% to 38 tons.
One of the main reasons for this decrease is that social housing units have been made more sustainable. Health care institutions realized a considerable reduction in emissions as well. In the report attention is paid to the amount of avoided emissions as a result of the financing of wind farms. The avoided emissions amounted to 91 kilotons.
BNG Bank’s own gross CO2 emissions fell by 19% to 178 tons in 2021. As a result of the coronavirus pandemic, there were almost no business flights. The amount of fuel consumed by the lease car fleet decreased further. As the bank has taken compensatory measures for 300 tons of CO2 equivalent emissions, its net carbon footprint is negative.
This year, the bank will present an action plan to further reduce greenhouse gas emissions in line with the Climate Agreement. This fits in with BNG Bank’s ambition, as a partner of the public sector, to contribute to sustainable cities and communities in order to achieve even more social impact.