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Supporting institution

Nova KBM

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Last updated: August 2023


Overview of climate mainstreaming approach and goals:

ESG is integral to Nova KBM’s business strategy and is incorporated in all its strategic pillars. Climate Change & Sustainability Committee, established in 2021, is responsible for comprehensive and effective implementation of the ESG strategy which has clear objectives focused on increasingly aligning the Bank’s portfolio with the Paris Agreement, financing of sustainable growth / transition to a low-carbon or carbon-neutral economy. Nova KBM has set 2022 as the baseline against which it will measure Scope 3 emissions (both its own and those of its clients). The bank offers green products for retail clients, and in 2023 will further extend its green offering for corporates in line with OTP Group’s Green Loan Framework, also adopted by Nova KBM.

With a focus on the energy rehabilitation of commercial properties and the promotion of sustainable mobility, Nova KBM continued to implement short- and medium-term measures in 2022 to further reduce its Scope 1 and Scope 2 emissions. The bank is sourcing only renewable energy, implements e-cars, and increases energy efficiency of its buildings which led to 60% carbon reduction in 2022 alone relative to 2021, despite the normalisation of life with the easing of protective measures in connection with COVID-19.

ESG factors are being incorporated across all processes in the bank, especially in risk management. Clearly defined ESG KPIs are incorporated in the performance scorecards of all employees, and regular ESG trainings are mandatory for all employees. Nova KBM’s business model continues to place a great deal of emphasis on digitalisation, paperless operations and the introduction of automated processes supported by user-friendly artificial intelligence.

Principal Strategic Documents:

Key reports and other materials published by the institution: