This in accordance with the targets set by the Paris Agreement and the UN Principles for Responsible Banking
“This science-based target aims to limit global warming to 1.5 degrees Celsius, the most ambitious goal of the Paris Agreement,” National Bank said in a statement. “The 25% target applies to all emissions resulting from the operations of the bank and its subsidiaries.”
“Measuring the impact of our actions is essential in the fight against climate change,” said Louis Vachon, president and CEO of National Bank. “A 25% reduction in our greenhouse gas emissions is an ambitious target that will require us to change our approach. Over the years, the bank has demonstrated its ability to overcome major challenges to achieve its objectives and meet the expectations of the communities it serves.”
Among the main steps in the bank’s 2020-2025 program are the optimization of its business travel and the implementation of fully remote work.
“The bank will continue to improve its energy efficiency, notably through a system that allows energy use at a number of branches to be managed remotely,” according to the statement. “The bank has one of the lowest carbon footprints per dollar of revenue, per employee, and per square metre in North America, due in part to its significant use of hydroelectricity.”
National Bank said that its commitment was a concrete step towards full adherence to the UN Principles for Responsible Banking. The bank is one of the document’s founding signatories.