Banque Cantonale Vaudoise

Banque Cantonale Vaudoise, a financial intermediation services company based in Switzerland, reported total carbon emissions of approximately 4,014,860,000 kg CO2e in 2024. This figure includes Scope 1 emissions of 1,211,000 kg CO2e, Scope 2 market-based emissions of 140,000 kg CO2e, and Scope 3 emissions of 4,013,509,000 kg CO2e. Key contributors to Scope 3 emissions in 2024 were investments (4,010,407,000 kg CO2e), employee commute (540,000 kg CO2e), waste generated in operations (540,000 kg CO2e), and business travel (316,000 kg CO2e).

In 2023, the bank's total emissions were about 4,710,000 kg CO2e, comprising 1,157,000 kg CO2e from Scope 1, 139,000 kg CO2e from Scope 2, and 3,413,000 kg CO2e from Scope 3. This indicates a significant increase in total reported emissions for 2024, driven primarily by Scope 3 investments.

Banque Cantonale Vaudoise has set several climate commitments. The bank aims to cut its direct CO2 emissions (Scope 1 and 2) by at least 35% from 2019 levels by 2030. Furthermore, in line with Switzerland's Climate and Innovation Act, the bank is committed to achieving net-zero GHG emissions for Scope 1 and Scope 2 by 2050. The bank is also investing CHF 2.6 million over 10 years to meet energy reduction targets at its two flagship sites, aiming to cut power consumption by 9% at its head office and 20% at its Administrative Center by 2028.