EFG International AG
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:9,569 tCO2e
Scope 1 Emissions:369 tCO2e
Scope 2 Emissions:2,402 tCO2e
Scope 3 Emissions:76,314 tCO2e (Business travel only)
Total Energy Consumption:17,186 MWh
Waste Generated:351 tons
ESG Focus Areas
- Responsible investing
- Climate action
- Diversity, inclusion and equal opportunity
- Data protection and cybersecurity
- Client centricity
Environmental Achievements
- Launched a pilot volunteering program educating over 570 children about ocean conservation.
- Conducted a carbon footprint analysis covering Scope 1 and 2 and some impactful categories of Scope 3 emissions.
- Implemented measures to optimize energy systems, increase renewable energy use, and reduce paper usage.
Social Achievements
- Welcomed 20 graduates for a global graduate program.
- Introduced a New Ways of Working model offering flexible working conditions.
- Launched an employee fundraising campaign supporting victims of the war in Ukraine.
Governance Achievements
- Established the EFG Sustainability Advisory Board (ESAB) and Sustainability Steering Committee (SSTC).
- Conducted a materiality assessment in line with the concept of “double materiality”.
- Updated the Code of Ethics and issued a Human Rights Statement.
Climate Goals & Targets
Long-term Goals:
- Reach net zero in operations by 2050.
Short-term Goals:
- Achieve a 50% reduction in GHG emissions (Scope 1, 2 and 3) by 2030.
Environmental Challenges
- High levels of economic uncertainty, increased market volatility and geopolitical tensions.
- The volume and pace of regulatory change.
- Rapidly evolving cyber risk landscape.
Mitigation Strategies
- Developed a multi-dimensional approach to risk management.
- Implemented a defined regulatory change management approach.
- Continuously assesses and improves its cyber defences and internal processes.
Supply Chain Management
Climate-Related Risks & Opportunities
Opportunities
- Development of energy-efficient products
- New markets and products/services
- Increased resource efficiency
Reporting Standards
Frameworks Used: GRI Reporting Standards
Sustainable Products & Innovation
- Climate Transition Strategy
- Climate Plus Actively Managed Certificate
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Sustainable development
- Responsible investing
- Responsible business conduct
Environmental Achievements
- Five strategic climate-related measures implemented, including GHG emission reduction targets of 50% by 2030 and net-zero by 2050.
- Publication of TCFD report
Social Achievements
- Hired 141 new Client Relationship Officers in 2023.
- 41% women in the workforce.
- Average of 12.6 hours of training conducted per employee.
- Support for various charitable and humanitarian projects (Right To Play, etc.)
Governance Achievements
- Strong capital and liquidity positions exceeding regulatory minimum requirements (CET1 ratio at 17.0%, Liquidity Coverage Ratio at 230%).
- Robust compliance and risk management frameworks.
- Named one of the 500 most valuable and strongest banking brands worldwide by Brand Finance and The Banker.
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero emissions by 2050.
Medium-term Goals:
- Reduce greenhouse gas emissions from operations by 50% by 2030.
Environmental Challenges
- Banking crisis in spring 2023.
- Escalating geopolitical tensions.
- Weakening global growth, uncertain inflation, and tightening financial conditions.
- Market volatility
Mitigation Strategies
- Maintained strong capital and liquidity positions.
- Client-centric and well-diversified business model.
- Strategic investments in talent base and client coverage.
- Targeted investments in digitization.
- Focus on operational and financial resilience.
- Disciplined approach to costs.
Supply Chain Management
Climate-Related Risks & Opportunities
Awards & Recognition
- One of the 500 most valuable and strongest banking brands worldwide