Erste Operates on a Carbon Neutral Basis in Hungary

Erste Hungary is now carbon neutral in Hungary this year. The bank has reduced its carbon emissions by more than 70% in the last six years. All Erste branches and offices run on green electricity, and by 2030 the entire fleet will be fully electric. Social and environmental responsibility permeates the bank's entire operations, the bank told MTI.

According to the statement, Erste's carbon footprint from its own operations was 1,700 tons last year, 70% less than five years ago and equivalent to the carbon footprint of 220 average Hungarian adults. The bank is neutralizing these emissions by buying quotas.

Erste has implemented a comprehensive program to achieve carbon neutrality. Over six years, the bank has reduced its paper issuance by 95%, leaving only paper that is legally required to be sent out in writing.

Energy use has been reduced by 16% in the last five years, partly due to continuously modernized heating, cooling and lighting systems, and partly because staff are also focused on energy savings, the statement said.

The bank also uses green energy to power its entire domestic network of 100 branches and its headquarters. The financial institution has started to replace its fleet of vehicles, with the share of electric cars in the fleet reaching 20% next year, rising to over 30% in 2025. The bank will operate 100% electric vehicles from 2030.

Erste will also focus on sustainability in its financing activities, with a quarter of total corporate lending in 2026 going to be for environmental investments. From 2030, the Austrian banking group will no longer finance carbon-based energy production.

According to the information, Erste Group has committed to carbon neutrality in its lending from 2050 onwards, i.e., it will also eliminate emissions that may be caused by the projects it finances, it was stressed.