Value of sustainable investments supported by K&H quadrupled in 2021
The value of sustainability investments supported by K&H quadrupled last year, and the financing of renewable energy production reached HUF 120 billion, according to a press release sent to the Budapest Business Journal.
The development and communication of sustainability policies are becoming increasingly important in the life of companies, but only 1% of domestic companies have a detailed strategy for this, K&H says.
"A credible and effective commitment to sustainability requires long-term thinking, a strategy, and concrete actions," said Guy Libot, CEO of K&H Group. "As a leading market player, we place a strong emphasis not only on meeting the financial needs of our customers, but also on protecting the world around us. The pursuit of sustainability is no longer a future expectation, but a present one, as we need to act responsibly now to ensure that future generations can grow up in a liveable environment. Ultimately, it is the measurable results that will show whether we are moving in the right direction."
In 2021, K&H has already reduced its per capita carbon emissions by 72%, used 61% less paper, reduced its water consumption by 65% and its total energy use by 21% compared to 2015. It has also offset its remaining emissions by supporting carbon neutrality projects, reaching carbon neutrality in 2021. The KBC Group is funding a sustainable reforestation program in Uruguay, improving water supply and modernizing kitchen equipment in Africa, and has also contributed to preventing the illegal deforestation of 150,000 hectares of the Amazon rainforest in Brazil.
Sustainable development also involves the use of innovative technologies. The pandemic has reinforced this trend, and consumers are open to improvements that save them time and energy as well as convenience, according to the press release.
Some 85% of K&H customers are digitally active, with 480,000 using K&H mobile banking last year and 320,000 also having a digital bank card. Contactless payments are also becoming increasingly popular: in 2021, more than 1.6 million people made a purchase this way every month, 15% of which were smart payments.
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