NB Environment

After conducting an environmental diagnosis, the NOVO BANCO Group defined new environmental targets to consolidate its responsible management and reduce the environmental footprint of its activity. In order to achieve the defined targets, the Bank defined measures and actions for implementation, as well as a halfyearly monitoring of results.

The environmental targets set for the year 2020 in terms of energy consumption, paper consumption, document digitalization, CO2 emissions and waste separation, show NOVO BANCO Group's degree of commitment and consequent involvement and motivation of all the stakeholders within the organisation to achieve greater environmental efficiency.

% of goals achived in December 2019

Environmental GoalsGoals 2020*2019
Photocopy Paper (million paper sheets) 35.1% 91,6%
% of digital communications to clients 83%** 125%
Electricity Consumption (Gwh) 25% 112,1%
CO2 Emissions (tonnes) 2,829 57,3%
% Waste separation 100% 40%

*Base year: 2015
** to digitalise 83% of all the Bank's communications to the clients

Energy Consumption
To reduce its electricity consumption, the Bank has implemented several initiatives, including:

- Reduction in the number of consumption locations - branch network and buildings;
- Installation of more energy-efficient lighting and equipment (ex: HVAC);
- Setting a time limit for central buildings to be used, centrally turning off HVAC and lighting systems;
- Progressive replacement of lamps by led lighting;
- Reinforcement of the consumption monitoring programme and adoption of preventive and corrective measures.

In 2019 NOVO BANCO consumed about 22,816,220 kWh of electricity, a year-on-year reduction of 16%. Consumption per employee was 5,274 kWh.

Paper Consumption

The rationalisation of paper is a structural commitment that was assumed by NOVO BANCO Group for both internal and external use of paper.

In 2019 NOVO BANCO continued to raise awareness of these two groups of stakeholders to the importance of making a more efficient use of printed paper

Internal paper consumption values:

  • White paper for internal use - 188.8 tonnes;
  • Forms and account statements - 94.6 tonnes.

In 2019, each employee consumed circa 44 kilograms of paper, less 11% than 2018. In 2019, taking into account the reduction and reuse of its waste, NOVO BANCO sent about 265.6 tonnes of paper and 10.6 tonnes of cardboard for recycling.

In 2019 NOVO BANCO pursued its strategy of optimising the communication to clients, namely through the dematerialisation of documents, with a consequent improvement in environmental quality. The Bank's continued commitment to the development of pioneering and environmentally responsible solutions has allowed clients full autonomy to access their banking movements and documents electronically, thus contributing to the protection of the environment by reducing the consumption of paper and its transportation and eliminating the printing and finishing process.

This consolidation made it possible to reach an overall level of client communication dematerialisation of 83% in four years, which compares with less than 50% in 2014.
2019 was effectively a year of consolidation of the strategy of optimizing communication to customers at NOVO BANCO and a consequent contribution to the improvement of environmental quality, a strategy that will continue to deserve special attention in 2020.

In addition to the account statements, NOVO BANCO also sends most other banking documents to its clients in digital format (credit card statements, deposit certificates, account entry notices, statements of securities and funds’ portfolio movements and position, entry notices, integrated billing notices, and sundry notices). In 2018 the Bank had 1,291 thousand digital accounts, 357 thousand digital credit card accounts and issued 4,014 thousand digital deposit certificates, and statements of securities and funds’ portfolio movements and position. This permitted to reach an overall level of client communication dematerialisation of 83% in four years, which compares with less than 50% in 2014.

CO2 Emissions
Aware of the importance of monitoring CO2 emissions, NOVO BANCO considered essential to make an inventory of emissions resulting from its activity. This is done by annually calculating the direct and indirect emissions (scopes1, 2 and 3), according to the guidelines of the Intergovernmental Panel on Climate Change (IPCC) and of the WRI/WBCSD's Greenhouse Gas Protocol.

In 2018 emissions of CO2 totalled 19,238 tonnes (scopes 1, 2 and 3), with the consumption of electricity and fossil fuels representing the largest sources of greenhouse gas emissions.

Water Consumption
NOVO BANCO Group has implemented various measures to reduce water consumption, namely replacing traditional taps for taps with timers and raising the awareness of employees to the importance of reporting any detected anomalies. In 2019 water consumption totalled 56,145 m3, which corresponds to approximately 13 m3 per employee.