In order to reach its reduction targets, HCOB is measuring its consumption in regard to energy (electricity, heating, fuel), water, paper and waste and calculates its carbon footprint with the help of the VfU Tool.

In the past, HCOB has comprehensively recorded CO2 emissions according to the Greenhouse Gas Protocol (GHG Protocol) in Scope 1 (direct emissions) and Scope 2 (energy indirect emissions). In Scope 3 emissions, the result of activities from assets not owned or controlled by the reporting organisation, HCOB records emissions resulting from the purchase of paper, water and transport on corporate level. To summarise the data, direct emissions (Scope 1), energy indirect emissions (Scope 2, market-based), other indirect emissions (Scope 3, selected categories on corporate level) overall decreased in 2023 compared with 2022. This is driven by reduced Scope 2 emissions due to lower energy consumption. The total GHG emissions were 937 tonnes, which translates to a GHG emissions intensity of 1,142 kg/FTE (market-based emissions; see page 108). To complement its strong commitment towards conserving climate and nature, HCOB is working together with the TÜV Rheinland certified ‘Ausgleichsagentur Schleswig-Holstein’ (Schleswig Holstein Compensation Agency), a fully state-owned organisation. The Bank has identified moors as a great driver to reduce emissions and foster biodiversity. Even though moors only cover around 3% of the earth’s surface, they capture twice as much carbon as all forests combined and are therefore highly efficient for carbon storage. This is why the Bank contributes to the restoration of the ‘Königsmoor’ in the Rendsburg-Eckernförde district by purchasing ‘MoorFutures’ certificates, so helping to protect the climate by capturing CO2 for at least the next 50 years. HCOB also contributes to the former raised moor becoming a living habitat again and is at the same time making a valuable contribution to CO2 -equivalent offsetting.