Merkur sets a new climate goal - even if it becomes difficult
GABV member Merkur Cooperative Bank has set new ambitious climate goals, which will require close cooperation between Merkur and customers. Commitment to this new climate initiative includes Merkur taking a big, albeit difficult step toward zero CO2 emissions and maximum sustainability.
Merkur started this journey, by applying to be approved for the climate initiative SBTi (Science Based Targets initiative), based on scientific goals, which sets the bar so high that even the greenest companies must stand on their toes to participate. SBTi's principles make it so that one can actually be judged on whether one is as green or sustainable as claimed.
"There are many banks and companies that set goals to become CO2-neutral in one or another year. Typically in the year 2050, because it fits with the global objective of the Paris Agreement. But until now, there has not really been an opportunity to measure these efforts or to follow up on the goals. That way, it becomes a free ride if there is no form of validation of what you promise.", explains Mikkel Palsby, CFO and risk manager at Merkur.
The bar is always set high when it comes to climate goals in Merkur, and in the next two years, SBTi will validate Merkur's strategy for reducing CO2 emissions. Merkur's climate goals are as follows:
2030: Merkur has joined the B Corp Initiative NetZero2030, where the goal is to become CO2-neutral by 2030. However, not all indirect emissions count.
2035: Therefore, Merkur has set a target of net zero in 2035, which also includes the indirect emissions from Mercury's lending. It is this objective that is being approved by the SBTi.