SNS Bank N.V. (including its brands BLG Wonen, RegioBank, SNS, ZwitserlevenBank and ASN Bank) aims to become climate neutral for all investments of the Bank. SNS Bank N.V. adopted this target in 2014 and by doing so followed its brand ASN Bank that, already in 2011, set the target to become climate neutral in 2030. This short film on climate neutrality (https://vimeo.com/124411882) introduces and explains the carbon P&L, the activities needed and ASN Bank’s results so far. At the end of 2014, ASN Bank achieved 45.1% of the carbon-neutrality ambition. For the entire SNS Bank N.V., 14% climate neutrality was achieved.
Problem:
Our climate is deteriorating as a result of carbon dioxide emissions . We are currently facing an average global temperature increase of more than 2 degrees Celsius. That will cause serious damage to the environment and our societies, as ice will melt, harvests will increasingly get damaged and we will face more serious and extreme weather conditions, such as flooding and extreme droughts causing refugees and displaced communities.
Banks have major influence on the climate issue as they can decide where to invest or not invest public resources. For example, they can invest in projects causing large scale deforestation or, on the contrary, in projects generating clean and renewable energy, in sustainable and energy efficient private homes or badly insulated ones. CO2 emissions can be the result of every investment of a bank. SNS Bank N.V. chooses to take responsibility for the CO2 emissions of all its investments. Therefore, we aim to become climate neutral for all our investments. Our goal is that the sum of the emissions (carbon losses) and the prevention of emissions (carbon profits) will be zero in 2030, resulting in a net zero effect on the climate.
Activities:
ASN Bank and SNS Bank N.V. developed an open source methodology (http://www.asnbank.nl/particulier/wat-doen-wij/waar-kiezen-we-voor/duurzaamheidsbeleid/klimaat/klimaatneutraal-in-2030.html) for emission calculation that is available for all interested parties to calculate the CO2 emissions of their investments. This methodology allows us to map, measure and analyze the progress towards carbon neutrality over time.
Our activities are twofold; we aim to reduce our carbon losses and maximize our carbon profits.
Reduce losses:
- Stimulate private home owners and housing corporations to make their homes more energy efficient, for example by improving insulation
- Stimulate and support private home owners and corporations to invest in renewable energy generation, for example solar energy
- Stimulate corporate clients, such as healthcare, to invest in energy saving measures, to improve both the energy efficiency and contribute to renewable energy generation.
Maximize profits:
- By financing, for example, projects in renewable energy, such as windmill parks at land or at sea, solar power systems and
- By investing in sustainable green bonds
Results:
SNS Bank N.V. calculated the total carbon losses and profits, which shows that the entire organisation already achieved 14% climate neutrality at the end of 2014. Furthermore, an overview of the energy efficiency of all private homes in the SNS Bank N.V. mortgages portfolio was generated, showing that over 50% of the homes already possess an energy label A, B or C (on a total scale of A – G, in which G is the least efficient). Measures and activities are currently being developed in order to stimulate home owners to further improve their energy efficiency, absolute energy use and renewable energy generation. At the end of 2014, ASN Bank achieved 45.1% of its carbon-neutrality objective, which means it is ahead of schedule to meet carbon neutrality in 2030. The graph shows the 2011-2014 results of ASN Bank.
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