Banque Cantonale Vaudoise

Banque Cantonale Vaudoise (BCV) Carbon Emissions and Climate Commitments

Banque Cantonale Vaudoise (BCV), headquartered in CH and operating in Financial intermediation services, except insurance and pension funding services (65), has reported its carbon emissions and outlined several climate commitments.

Emissions Overview:

In 2024, BCV's total reported emissions were approximately 4,014,860,000 kg CO2e. This comprised:

• Scope 1 Emissions: Approximately 1,211,000 kg CO2e.
• Scope 2 Emissions: Approximately 140,000 kg CO2e (market-based and location-based).
• Scope 3 Emissions: Approximately 4,013,509,000 kg CO2e, with a significant portion attributed to investments (approximately 4,010,407,000 kg CO2e), business travel (approximately 316,000 kg CO2e), employee commute (approximately 540,000 kg CO2e), and waste generated in operations (approximately 540,000 kg CO2e).

Previous years' emissions data indicates a general trend of reduction in total emissions:

• 2023: Total emissions were approximately 4,710,000 kg CO2e.
• 2022: Total emissions were approximately 4,583,000 kg CO2e.
• 2021: Total emissions were approximately 4,721,000 kg CO2e.
• 2020: Total emissions were approximately 5,549,000 kg CO2e.
• 2019: Total emissions were approximately 6,442,000 kg CO2e.
• 2018: Total emissions were approximately 6,618,000 kg CO2e.
• 2017: Total emissions were approximately 6,686,000 kg CO2e.

Climate Commitments and Reduction Targets:

BCV is committed to reducing its carbon footprint. Key climate initiatives include:

• Net-Zero by 2050: BCV aims to achieve net-zero GHG emissions by 2050, aligning with Switzerland's Climate and Innovation Act. This commitment covers Scope 1 and Scope 2 emissions.
• Direct CO2 Emissions Reduction: The bank has set a target to cut its direct CO2 emissions (Scope 1 and Scope 2) by at least 35% from 2019 levels by 2030. Progress towards this target is being monitored, with some indications of being on track for the five-year milestone.
• Energy Consumption Reduction: Through an agreement with the Canton of Vaud, BCV is investing CHF 2.6 million over 10 years to reduce energy consumption at its flagship sites. Specific targets include a 9% reduction in power consumption at its head office and a 20% reduction at its Administrative Center by 2028. Efforts to achieve these targets have shown positive progress.

The bank's disclosures indicate a strong commitment to transparency and a proactive approach to managing its environmental impact.