EQS-News

ProCredit group reaches key milestones in its comprehensive sustainability strategy in 2023 and defines further targets - Seite 4

 

As a member of the Net-Zero Banking Alliance, the ProCredit group has developed a comprehensive strategy to achieve net-zero emissions by 2050 based on current best practices and in conjunction with the Science Based Targets initiative (SBTi). As part of this strategy, near-term GHG reduction targets were defined last year using the SBTi method and recently validated by the SBTi as scientifically sound and in line with the Paris Climate Agreement. The ProCredit group’s near-term targets include a commitment to reduce its own emissions (Scope 1 and Scope 2) by 42% by 2030, with 2022 as the base year. Furthermore, the group will focus on supporting the decarbonisation efforts of the clients who contribute most heavily to Scope 3 emissions. The first part of ProCredit Holding’s Scope 3 target is to work with small and medium-sized enterprises (SMEs), primarily in the agriculture and manufacturing sectors, which account for 28% of the emissions in the group’s portfolio, to assist them in setting their own science-based targets by 2027. The second part of ProCredit’s Scope 3 target is a commitment to continue to exclusively finance electricity projects in the field of renewable energies until 2030. As soon as the SBTi guidelines for setting long-term net-zero targets are made available, ProCredit will also have its long-term targets validated by the SBTi.

 

Hubert Spechtenhauser, Chairperson of the Management Board of ProCredit Holding AG, emphasises: “With the most recent validation of our near-term emission reduction targets by the SBTi, we have reached another milestone in our sustainability strategy. As a commercial bank for SMEs, we are in particular committed to supporting our clients in their transition to more efficient and less environmentally harmful business activities. Our seventh Impact Report demonstrates that we are successfully driving forward our guiding principle of sustainable development at various levels and through numerous actions.”

 

The Impact Report Package 2023 consists of two parts. The Impact Report itself provides a detailed overview of ProCredit Holding’s sustainability strategy as well as its sustainability performance, initiatives and goals for the future, taking particular account of the five SDGs mentioned previously. The Impact Report is supplemented by the Impact Report Datasheet, which is intended to contribute to the continuous improvement and comparability of reporting.