Reducing our carbon footprint
We have been measuring our carbon footprint since 2008 and taking the necessary measures to reduce our impact on the environment. For example, we signed an agreement with the Canton of Vaud as part of a framework for major energy consumers and committed to reducing our electricity consumption at our flagship sites in Prilly and St. François in Lausanne.
In 2019, BCV earned a B grade – the third highest – on the CDP Global survey, which assesses companies’ carbon footprints.
And we have offset the greenhouse gas emissions from our operations by financing carbon reduction and sequestration projects with myclimate, a Swiss non-profit organization.
Socially responsible investing at BCV
Helping tackle climate change through responsible lending
We’re mindful of the environmental risks and impacts of the projects we finance. That’s why our lending activities are guided by a set of key principles. Our lending policy excludes the financing of projects relating to coal mines or nuclear and coal-fired power plants, and we don’t finance transactions involving crude oil, residual fuel oil, or shale gas.
In 2020, we began decreasing our coal exposure in our trade finance business by 4.5% per year. This is at a slightly faster pace than the phase-out requirements under a scenario that meets the emissions target set out in the Paris Agreement.
And when it comes to mortgage lending, we offer a Green bonus for energy-efficent and environmentally oriented renovations. Customers are rewarded with a 0.25 percentage-point reduction on the interest rate of their loan in order to promote energy efficiency and renewable-energy projects.