NOVO BANCO is committed to pay attention to the environmental impacts of its financial products and services and look out for any resulting business opportunities, shaping its offer in accordance with the expectations of its shareholders.
Specifically designed to have a low environmental impact, the NB 18.31 Account is carbon neutral, as it is an online account. Hence this account has reduced carbon emissions (except for its opening), that can be neutralised. In partnership with the consulting firm e)mission, NOVO BANCO quantified the CO2 emissions associated with the NB 18.31 Account namely resulting from the use of computers, paper and card production, amongst others.
|At 31 December 2017, NOVO BANCO had 120,447 NB 18.31 Accounts with offset emissions, equivalent to:
The carbon emissions were offset through the support provided to the Velotex Project, a fuel replacement project at ceramic mills in the State of Rio de Janeiro, Brazil.
Dematerialisation of communication to Clients
NOVO BANCO continued to promote the dematerialisation of communications sent to customers, providing the respective documents online.
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, integrated billing notices, and sundry notices). In the second half of 2017 the dematerialisation process was reinforced through the issuance of digital statements of securities portfolio holdings and movements, and investment funds portfolios. This permitted to reach an overall level of client communication dematerialisation of 79% in 2017, which compares with less than 50% in 2014.
Responsible Investment Funds
Responsible investment is an approach to traditional investment that recognizes the importance of environmental, social and governance factors for the success of investment and for long-term stability. NOVO BANCO Group (NBG), through Banco Best, sells responsible investment funds from third party asset managers with a diversified investment strategy and geographic allocation.
In 2017 client subscriptions of Banco Best's range of 118 responsible investment funds totaled approximately €7.9 million.
Click here to consult the list of ethical funds.