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Classified in: Environment, Business
Subjects: ENI, ENP

National Bank to Reduce its Carbon Footprint by 25% by 2025 to Help Meet the Most Ambitious Goal of the Paris Agreement


First anniversary of the signing of the UN Principles for Responsible Banking

MONTREAL, Sept. 25, 2020 /CNW/ - National Bank today announced that it has set a target to reduce its greenhouse gas (GHG) emissions by 25% by 2025, compared to 2019 levels. This science-based target aims to limit global warming to 1.5 degrees Celsius, the most ambitious goal of the Paris Agreement. The 25% target applies to all GHG emissions resulting from the operations of the Bank and its subsidiaries. This announcement marks the first anniversary of the signing of the UN Principles for Responsible Banking. National Bank is one of the founding signatories of these Principles.

Highlights

Quote

"Measuring the impact of our actions is essential in the fight against climate change. A 25% reduction in our greenhouse gas emissions is an ambitious target that will require us to change our approach. Over the years, the Bank has demonstrated its ability to overcome major challenges to achieve its objectives and meet the expectations of the communities it serves. Today, we're taking an important step in living up to our commitment to sustainable development," said Louis Vachon, President and CEO of National Bank.

About National Bank of Canada
With $322 billion in assets as at July 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

SOURCE National Bank of Canada


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News published on 25 september 2020 at 08:00 and distributed by: