National Bank Radically Reduces Its Carbon Footprint

In the past three years, the National Bank of Hungary (MNB) has reduced the carbon footprint of its operations by nearly 60%, double the amount it had previously undertaken, thus saving the environment from the emission of 2-3,000 tons of carbon dioxide annually, the central bank said in a statement sent to MTI on Thursday.

They stressed that the reduction significantly exceeds the commitment made in their 2020-2022 environmental strategy, which promised a 30% reduction.

They explained that climate-friendly operations have been achieved in large part through the use of electricity in the central bank offices, with the share of energy from renewable sources increasing sharply, reaching 100% in 2022.

They added that in the fall of 2022, MNB launched an energy efficiency and savings program, and also switched to electronic transmission of its publications, significantly reducing paper use.

The number of business trips has also been significantly reduced, and the internal rules on foreign missions require environmental considerations to be taken into account when choosing means of transport, they said.

MNB's board has set a target for the next three years to further reduce the carbon footprint of the central bank's operations by 15%. In addition to making internal processes more environmentally friendly, the central bank will continue to implement emission offsetting projects to improve natural habitats such as forests. MNB will continue to upgrade its buildings to international environmental standards and launch new initiatives such as chemical-free office cleaning and office composting.