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NBS Carbon Footprint

The National Bank of Slovakia (NBS) is highly committed to environmental responsibility. The conduct of its operations, both from organisational and technical stances, follows Slovak legislation standards and the recommendations by the European Commission and the European Central Bank, which define procedures for environmentally friendly and sustainable management.

The NBS’s long-term goal regarding its own carbon footprint is to introduce an environmentally sustainable model of operation, minimizing negative impacts on the environment and, conversely, contributing to positive ones. This approach intends to mitigate climate change consequences, increase adaptability to climate change, support biodiversity, and increase resource efficiency.

To implement this comprehensive target, three key objectives have been adopted:

1.   transition to carbon-neutral operations by gradually reducing greenhouse gas emissions, offsetting residual emissions through support for carbon sequestration projects (carbon capture and storage), and the rational use of energy resources;

2.   adapting NBS’s operations to climate change through gradual installation and integration of blue-and-green infrastructure and adopting measures that positively impact urban biodiversity as well as by supporting non-profit initiatives aimed to minimize climate change consequences and to restore biodiversity in Slovakia;

3.    transforming operations in accordance with the circular economy model through resource use optimalisation, preference for renewable materials, waste minimization and the application of green public procurement principles

To monitor advancements in achieving these objectives and inform the public about the progress made, the NBS prepares and publishes annual Carbon Footprint Reports, which examines sources of greenhouse gas emissions from the NBS’s internal operations in more detail.

In 2023, more than one-third of the emissions associated with the NBS’s operations came from the supply chains of purchased consumer goods and services [1] . Emissions from purchased capital goods accounted for the second-highest share [2]. Heating with natural gas and electricity supply each accounted for more than 10 percent of the NBS operational carbon footprint.

NBS Operational Emissions by Source
Operational areas by the Ecometrica tool tCO₂eShare
Purchased goods and services  3 575,431  37,68 %
Capital goods 2 127,364  22,42 %
Gas 1 474,324 15,54 %
Electricity 975,036 10,28 %
Commuting 449,699 4,74 %
Business travels 415,198 4,38 %
Direct fuel consumption: Company vehicles 258,379 2,72 %
Upstream leased assets 88,156 0,93 %
Downstream leased assets 75,805 0,80 %
Waste generated in operations 37,929 0,40 %
Water consumption 4,487  0,05 %
End-of-life treatment of sold products 4,325 0,05 %
Direct fuel consumption: Facility fuel use 2,495 0,03 %
Total 9 488,629 100 %

For more detailed information on the structure of greenhouse gas emissions from the internal operations of the National Bank of Slovakia, data sources, methodology, and calculation scope, please refer to the attached 2023 NBS Carbon Footprint Report.

2023 NBS Carbon Footprint Report

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[1] This is a relatively broadly defined category that includes coin minting, the purchase of computer services and software, organization of educational and other events, building maintenance and cleaning services, purchase of office supplies and more.

[2]These expenses include capital expenditures for the construction and renovation of buildings and IT infrastructure, the purchase of new vehicles, and the processing of financial transactions.