Red mud is a large-scale hazardous waste that, due to its metal content, is of great value, so its complex recovery is an increasingly urgent issue worldwide.
In the framework of the project GINOP-2.2.1-15-2017-00106: „Extraction of rare earth elements and secondary raw materials production in the framework of the complex utilization of red mud” led by Martin Metals Ltd, through several years of work in our research institute, we have developed a laboratory-scale technology that has been able to extract and separate the most important (in terms of value) components with high efficiency.
The technology consists of easy-to-implement and scalable steps using accessible and inexpensive chemicals. We placed great emphasis on the recyclability of the chemicals we used, while also maximizing efficiency.
The recovered and separated components can be integrated into the production processes of different raw materials (Al-, Fe-, Ti-production) with little effort, and we obtained approximately one hundred times the enrichment of the most important micro-constituent (scandium) compared to the starting red mud.
Continental to exclusively supply all-electric Extreme E racing series with tires again in 2022
Reliable performance for all climate zones and all terrain conditions
Latest technology for greater sustainability: One-third of second-generation tire for Extreme E already consist of recycled and renewable raw materials
Hanover, February 14, 2022. Continental has developed a new high-performance tire for the second season of the all-electric Extreme E racing series, which starts with the Desert X Prix in Neom, Saudi Arabia, on February 19 and 20. When developing the new model, the tire engineers and materials experts at Continental have not only improved performance, but also placed particular emphasis on a high proportion of sustainable materials. Continental has therefore completely redesigned the tread compound and the carcass of the second-generation CrossContact Extreme E on the basis of sustainable materials. Overall, the new CrossContact Extreme E is made from around one-third recycled and renewable raw materials. Silica obtained from the ashes of rice husks, a waste product from agriculture, has for example been used.
ContiRe.Tex Technology Used in Continental Tires for the First Time
In addition to reprocessed steel and carbon black, Continental is also using polyester yarn made from recycled PET bottles in the tire carcass for the first time. Thanks to the use of plastic bottles, conventional polyester has been fully substituted in the CrossContact Extreme E. The polyester in the carcass, which represents the load-bearing frame of a tire, is produced by one of Continental’s cooperation partners from old PET bottles that will no longer be reused, without any intermediate chemical steps, employing ContiRe.Tex technology. Each of the 30 tires that Continental is supplying to all ten Extreme E teams now contains recycled polyester made from around 60 reprocessed PET bottles. The technology will be integrated into the volume production of various Continental premium tires later this year.
Sandra Roslan, who supports the Extreme E racing series at Continental is confident that the tire developers’ efforts will also have an effect on the future of conventional tires: “With Extreme E, we test our latest technologies and developments under particularly extreme and unique conditions. The results will help us in the introduction of sustainable solutions for our volume production.
The second-generation CrossContact Extreme E tire will be used in all five races of the 2022 season and is optimized for maximum performance in all climate zones and terrain conditions. “With the wealth of new knowledge gained during the first season, we have been able to enhance the next generation of CrossContact Extreme E and have placed an even greater focus on the use of sustainable and recyclable materials,” says Nels von Schnakenburg, technical manager for Extreme E at Continental. The size, diameter and width of the tire, however, remain unchanged. These are 37 X 12.5 R17 – i.e. 37-inch diameter, 12.5-inch width, and 17-inch rim.
The technology company is a founding partner and exclusive tire supplier of the off-road racing series, which was first held in 2021. It brings motorsports with electrically powered vehicles to the remotest corners of the world to raise awareness of climate change among motor racing fans. The second Extreme E season starts in Saudi Arabia on February 19 and 20. In Europe, the all-electric racing series will be covered by various TV companies and broadcasters.
Continental is pursuing the ambitious goal of becoming the most advanced tire company in terms of ecological and social responsibility by 2030. By 2050 at the latest, the company intends to use 100-percent sustainably produced materials in its tire products and achieve complete carbon neutrality along the entire value chain.
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2020, Continental generated sales of €37.7 billion and currently employs more than 192,000 people in 58 countries and markets. On October 8, 2021, the company celebrated its 150th anniversary.
The Tires group sector has 24 production and development locations worldwide. Continental is one of the leading tire manufacturers with more than 56,000 employees and posted sales of €10.2 billion in 2020 in this group sector. Continental ranks among the technology leaders in tire production and offers a broad product range for passenger cars, commercial and special-purpose vehicles as well as two-wheelers. Through continuous investment in research and development, Continental makes a major contribution to safe, cost effective and ecologically efficient mobility. The portfolio of the tire business includes services for the tire trade and fleet applications, as well as digital management systems for tires. Your contact: First name, last name, phone: international
https://bcsdh.hu/wp-content/uploads/2022/01/Continental.png170450Takacs Ivetthttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngTakacs Ivett2022-02-14 16:37:162022-04-27 15:22:48Enhanced for Sustainable Top Performance: The New CrossContact Extreme E from Continental
As we mentioned in our previous newsletter, EXPO 2020 will showcase outstanding examples of international collaboration and innovation through thematic weeks built around the themes of sustainability, mobility and opportunity. The event is the first world exhibition to be held in the Middle East, Africa and South Asia (the MEASA region): a global experience, a bridge to bring people, communities, companies and nations together; an inspiration, a challenge, a real solution to improve everyday life. But beyond all that, the World Expo is about innovation, collaboration and Dubai’s commitment to building a cleaner, more liveable and healthier future.
Continuing the October series, the Travel & Connectivity Week in January 2022 was organised by National Mobile Payment Plc. (NMP Plc.) activities to a targeted professional audience was further showcased at the EXPO “Hungarian Best Practices” event series, hosted in the Hungarian Pavilion. The aim of the presentations was to provide an insight into Hungarian best practices, such as the operation of the national mobile payment system, with a special focus on its relevance for national and regional sustainability.
During the presentations, business forums and professional discussions, NM Plc. staff contributed to the sharing of knowledge on regional and global innovative-technical initiatives, and participants had the opportunity to map working solutions and know-how, and to compare Hungarian working solutions with regional and global peer services.
The previous discussions at the regional level, in the framework of the V4 Smart Platform Project 2 (V4SP2), continued. The partners confirmed that the initiative is a good opportunity for the service sector as well, as they play an active role in the ecosystem of the emerging service model as part of the tourism sector, and are interested in creating interoperability of services and enhancing the customer experience.
A further conclusion is that there will be a need to maintain the professional dialogue of the V4SP2 community and to extend the communication of the project and the V4 region to the V4+ countries. For this reason, several V4+ countries have indicated their willingness to participate in further events of the project, and a thematic continuation of the project’s further events in 2022 is already being organised with the participation of these stakeholders.
https://bcsdh.hu/wp-content/uploads/2022/01/Nemzeti-Mobilfizetesi-Zrt.png170450Takacs Ivetthttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngTakacs Ivett2022-02-12 16:26:552022-04-27 15:23:16National Mobile Payment Plc. continued its series of events on sustainability, transport and cooperation at the EXPO 2020 in Dubai
In a world undergoing profound changes, accelerated by the pandemic, ALD Automotive Hungaryremains committed to being and acting socially responsible and supporting our community. Our cooperation has been going on for years with local EDGYA – Together for Children with Cancer Foundation. Our company contributed with 2,500,000 HUF to the purchase of a medical device – special laser knife used for vascular surgeries in children with cancer –, which will be used by the Surgery Department of Semmelweis University II. Children Clinic. The official handover will take place in March 2022.
As part of our Corporate Social Responsibility approach, that is fully embedded in the MOVE 2025 Strategic Plan, it is essential for ALD to have a positive contribution to society, through citizen commitments, charity, or solidarity initiatives.
https://bcsdh.hu/wp-content/uploads/2022/01/ALD-Automotive.png170450Takacs Ivetthttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngTakacs Ivett2022-02-11 16:15:182022-04-27 15:27:21ALD contributes to new vascular surgical instrument purchase for the benefit of children with cancer
The Buddy4All solution aims at fostering the wellbeing and active lifestyle of older adults. It motivates them to keep their mind and body trained via cognitive-physical exercises and supportive and fun cross-generational activities. Using a mobile app and novel mixed reality glasses, Buddy4All provides personal support via a multi-tiered buddy network. Buddy4All targets (a) cross-generational connection of older and younger adults, (b) cognitive-physical training, (c) a combination of virtual, professional and cross-generational support, all to preserve social inclusion, cognitive and physical fitness and personal wellbeing that leads to a healthy lifestyle. Buddy4All does not only target older adults but also younger adults who want to contribute to society and profit from the life experience of the older generation. They can not only give but also receive support and quality time.
Buddy4All provides cross-generational, virtual and professional support for both – older and younger adults – in a way that has never been available before. Further, mixed reality location-based games and cognitive-physical trainings are new to the AAL target group. Buddy4All will offer unique benefit to the primary end-users by providing effective support, exercises and cross-generational activities for mental and physical health in combination with all-time motivation and fun. Buddy4All will introduce three unique innovations: (1) a multi-tiered buddy network that focuses on cross-generational interaction, support, and experience exchange where both – younger adults and older adults – can profit from each other; (2) MR location-based games that can be played together with remote partners, where the younger adult is walking outside and the older adult can see on his mobile phone or tablet what the younger adult is seeing and help him solve different puzzles; (3) combined cognitive-physical trainings where proven brain trainings become more active and fun.
https://bcsdh.hu/wp-content/uploads/2022/04/ProSelf.png170450Takacs Ivetthttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngTakacs Ivett2022-02-10 16:18:272022-04-27 15:37:15At the beginning of March 2022, the Austrian subsidiary of ProSelf International Zrt. will start another European project with a total cost of HUF 800M, Buddy4All, with its German and Swiss partners
Our newest member is Market Építő Zrt., founded in 1996, represented and founded by Sándor Scheer. The company’s sales revenue in 2020 was almost HUF 184 billion. Since the establishment of Market Építő Zrt., it has become one of the leading construction company groups in Hungary, and together with its subsidiaries it currently employs nearly 1,400 people. It implements about 35-40 investments a year, most of which are the construction of industrial and logistics facilities, office buildings, hotels and public institutions. Celebrating its 26th birthday this year, Market Építő Zrt. was ranked 15th in the list of the most valuable 100% Hungarian-owned companies in 2021 by Forbes.
Sustainable development and operation are strongly reflected in the company’s strategic plan. The company’s senior management is committed to all three areas of sustainability under ESG. In addition to the economic benefits, the environmental impact is increasingly reflected in the company’s decisions as an influencing factor. Their environmental responsibilities include replacing their entire passenger car fleet with alternative propulsion by 2025, improving selective waste collection, and voluntarily doubling the number of trees planted on construction sites. Respect for fundamental human rights and fundamental human values is ensured by the company through fair and legal employment and its Code of Ethics.
In order to renew the vocational training in construction, a joint platform called Tudásépítő-Team Nonprofit Zrt. was created with two other construction companies. In addition, the company is collaborating with MOMÉ in a knowledge transfer-based partnership. Key areas of focus for the program include introducing students to industry trend tracking; holding creative, interdisciplinary courses and supporting beginners. It is also a strategic commitment to spend 0.1% of annual sales on CSR activities. Accordingly, the company is a strategic partner of Bátor Tábor, Mosoly Alapítvány, and Ökumenikus Segélyszervezet. In addition, they regularly appear as supporters in health, education, sports and culture.
The purpose of their membership is to engage in dialogue with members, to learn about and share good practice in order to support the practical implementation of their strategic goals and, more broadly, to help the construction industry become more sustainable.
https://bcsdh.hu/wp-content/uploads/2022/04/market-epito.png170450Takacs Ivetthttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngTakacs Ivett2022-02-09 17:14:482022-04-27 14:52:55Our newest member is Market Építő Zrt.
Our newest member is DVM Group Kft. Founded in 1995, represented by Massányi Tibor, with HUF almost 27 billion sales revenue with 140 employees for 2020. DVM Group Kft. provides integrated engineering and construction services covering the full spectrum of the investment process from design to operation.
DVM is committed to making sustainability a part of everyday practice, both in the whole process of running projects and in the way we live in the office. They are actively seeking to contribute to making the construction industry and the built environment less environmentally damaging. Since 2008 the company has been running a sustainability branch, which ensures its responsible operations. The company is also an active member of the Hungarian Green Building Council/HuGBC, a member organisation of the World Green Building Council. Their ethical operation is in line with the Hungarian legal environment and the Labour Code. They ensure equal rights by applying labour protection directives and non-discriminatory practices in line with today’s European standards.
Their membership aims at the development of sustainable business operations, the development and integration of sustainability guidelines for business operations. Furthermore, meeting like-minded business partners, sharing knowledge, collaborating, transferring successful experiences and further developing business sustainability.
https://bcsdh.hu/wp-content/uploads/2022/04/DVM-group.png170450Takacs Ivetthttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngTakacs Ivett2022-02-06 18:05:122022-10-21 15:57:00Our newest member is DVM Group Kft.
In February 2022, ALTEO Plc. received a Comprehensive ESG Risk Rating and was assessed by Sustainalytics to be at High risk of experiencing material financial impacts from ESG factors. ALTEO received an ESG rating of 30.8 points on the 0-50 risk scale of Sustainalytics. The analysis highlights that the industry is fundamentally exposed to higher risk and, as such, the company’s exposure falls into a higher category to begin with. At the same time, the rating also considers how the company responds to the risks arising from its operations and how it manages their impact. For the latter, ALTEO has been identified as having a strong risk management in place.
In February 2022, ALTEO Energiaszolgáltató Nyrt. became the first company in the Hungarian energy sector to obtain an independent, international ESG Risk Rating. Based on the Sustainalytics assessment, the company achieved a lower ESG Risk Rating than the industry average.
In terms of aggregate results, ALTEO received an ESG Risk Rating of 30.8 points on the 0-50 risk scale of Sustainalytics, which assesses the company’s environmental, social and corporate governance impacts. This makes ALTEO the first in Hungary to achieve a lower ESG Risk Rating level than the average in the sector of independent energy producers and traders, and utilities.
The analysis highlights that the industry is fundamentally exposed to higher risk and, as such, the company’s exposure falls into a higher category to begin with. At the same time, the rating also considers how the company responds to the risks arising from its operations and how it manages their impact. For the latter, ALTEO has has been identified as having a strong risk management in place: it has introduced robust ESG programs, practices and policies to effectively control and mitigate existing risks. With the exception of carbon emissions arising from the operation of natural gas-powered power plants, all other ESG themes received a medium, low or negligible risk rating, with certain indicators showing 100% or close to 100% compliance. “Last year we announced our intention to continue as a certified company under the ESG approach as soon as possible. As a listed company, transparency is a fundamental principle for us, and as a new generation energy provider, we want to set an example to all energy market players”, said ALTEO CEO Attila Chikán Jr., adding that “we are proud to be the first company in Hungary in the energy sector, not including oil and gas industry, to obtain ESG Risk Rating (moreover, by the deadline we have set for ourselves), and we are hoping that this will gradually become a market expectation in the Hungarian corporate sector as well.”
“Since our establishment in 2008, sustainability has accompanied us in all our business decisions, and the ESG Risk Rating provides us with the reference points that form the basis of a comprehensive ESG strategy covering all areas of sustainability,” said Anita Simon, Deputy CEO for Sustainability and Circular Economy at ALTEO. In her view, the analysis covers all sector-specific risks and also makes it clear what measures can be taken to mitigate these risks, allowing for the results to be used as a starting point for more ESG conscious company operations in the future.
The detailed Sustainalytics report is available here.
https://bcsdh.hu/wp-content/uploads/2022/01/Alteo.png170450Takacs Ivetthttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngTakacs Ivett2022-02-02 17:43:562022-04-27 15:41:57ALTEO Plc. received a Comprehensive ESG Risk Rating
Nestlé announced a new plan to tackle child labor risks in cocoa production. At the center is an innovative income accelerator program, which aims to improve the livelihoods of cocoa-farming families, while also advancing regenerative agriculture practices and gender equality. A cash incentive will be paid directly to cocoa-farming households for certain activities such as enrollment of children in school and pruning among several others. Nestlé’s new plan also supports the company’s work to transform its global sourcing of cocoa to achieve full traceability and segregation for its cocoa products. As Nestlé continues to expand its cocoa sustainability efforts, the company plans to invest a total of CHF 1.3 billion by 2030, more than tripling its current annual investment.
The income accelerator program offers a novel approach to help support farmers and their families in their transition to more sustainable cocoa farming. The incentives will encourage behaviors and agricultural practices that are designed to steadily build social and economic resilience over time. With Nestlé’s new approach, cocoa-farming families will now be rewarded not only for the quantity and quality of cocoa beans they produce but also for the benefits they provide to the environment and local communities. These incentives are on top of the premium introduced by the governments of Côte d’Ivoire and Ghana that Nestlé pays and the premiums Nestlé offers for certified cocoa. This cocoa is independently audited against the Rainforest Alliance Sustainable Agriculture Standard, promoting the social, economic and environmental well-being of farmers and local communities.
Cocoa-farming communities face immense challenges, including widespread rural poverty, increasing climate risks and a lack of access to financial services and basic infrastructure like water, health care and education. These complex factors contribute to the risk of child labor on family farms. Together with partners, including governments, and building on a promising pilot program, Nestlé’s new initiative sharpens focus on these root causes of child labor.
“Our goal is to have an additional tangible, positive impact on a growing number of cocoa-farming families, especially in areas where poverty is widespread and resources are scarce, and to help close the living income gap they face over time,” said Mark Schneider, Nestlé CEO. “Building on our longstanding efforts to source cocoa sustainably, we will continue to help children go to school, empower women, improve farming methods and facilitate financial resources. We believe that, together with governments, NGOs and others in the cocoa industry, we can help improve the lives of cocoa-farming families and give children the chance to learn and grow in the safe and healthy environment they deserve.”
Creating cash incentives to grow income substantially
The program rewards practices that increase crop productivity and help secure additional sources of income, which aim to close the gap to living income and help protect children. By engaging in these practices, families can additionally earn up to CHF 500 annually for the first two years of the program. The higher incentive at the start will help accelerate the implementation of good agricultural practices to build future impact. This incentive will then be leveled at CHF 250 thereafter as the program starts delivering tangible results. It is not paid based on the volume of cocoa sold and is inclusive to provide smaller farmers meaningful support, leaving no one behind. In a departure from normal practice, the program also offers financial incentives for the farmer’s spouse, who is typically responsible for household expenses and childcare. By dividing the payments between the farmer and the spouse, the program helps empower women and improve gender equality. Examples of practices that Nestlé is incentivizing include:
School enrollment for all children in the household ages 6-16;
Implementing good agricultural practices, such as pruning, which increase crop productivity;
Performing agroforestry activities to increase climate resilience, like planting shade trees;
Generating diversified incomes, for example through growing other crops, raising livestock such as chickens, beekeeping or processing other products like cassava.
Payments will be delivered via a secure mobile service transfer that will ensure traceability directly from Nestlé suppliers to the intended recipient. Because cash flow throughout the year is often a challenge, cash incentives will be distributed when they are needed most. Based on feedback from farmers, this includes the back-to-school period and before the rainy season. Third parties, including International Cocoa Initiative and Rainforest Alliance, will work with Nestlé to monitor participation.
Building on the positive results of an initial pilot in 2020 with 1,000 farmers in Côte d’Ivoire, in 2022 Nestlé will expand the program to include 10,000 families in the country, before extending it to Ghana in 2024. It will then assess the results of that test phase and adapt where necessary, before moving to reach all cocoa-farming families in its global cocoa supply chain by 2030.
Nestlé will help ensure farmers have the resources, training and social and financial structures to make lasting changes by:
Enhancing the existing monitoring and remediation system to help identify, prevent and address child labor risk and increase school enrollment;
Offering families training through the Gender Action Learning Systemand on household financial planning and entrepreneurship;
Organizing and training local groups to perform pruning and other beneficial agricultural tasks within a given cooperative each year;
Providing income diversification opportunities for farmers and their spouses;
Helping set up Village Savings and Loans Associations (VSLA), focused on women, to encourage savings and provide loans for small business opportunities.
Feedback and input from farmers and farmer cooperatives, as well as ongoing data collection and evaluation by third parties, will be used to inform, modify and improve the program as it scales up to more communities. In addition, independent oversight will be provided by a multistakeholder strategic advisory committee managed by IDH-The Sustainable Trade Initiative, a leading foundation that works to improve the sustainability of international supply chains.
Tracing all cocoa from origin to factory
As part of the program, Nestlé will transform the global sourcing of cocoa to achieve full traceability and segregation of its cocoa products from origin to factory. This new effort will help transform the supply chain of Nestlé and the broader industry. Nestlé will introduce a range of products with cocoa sourced from this innovative program, offering consumers the opportunity to support the improvement of the families’ livelihoods and the protection of children. This will start with a selection of KitKat products in 2023.
“Our actions can help catalyze change on an important topic that is so close to our hearts. They will drive accountability and transparency across the industry, at a time when customers, employees and communities increasingly expect companies to deliver on their shared values,” said Magdi Batato, Executive Vice President and Head of Operations. “By increasing traceability at scale, we will help build consumer trust in our products and respond to the growing demand for responsibly and sustainably sourced cocoa.”
Today’s announcement builds on Nestle’s longstanding efforts to tackle child labor risks in cocoa production. The company has invested in sustainability through the Nestlé Cocoa Plan since 2009. Through a robust monitoring and remediation system instituted since 2012, 149,443 children have been assisted to protect them against the risk of child labor, and 53 schools have been built or refurbished. This system is now the industry standard by which companies monitor their supply chains.
https://bcsdh.hu/wp-content/uploads/2022/01/Nestle-1.png170450Takacs Ivetthttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngTakacs Ivett2022-01-27 17:03:432022-04-27 15:43:28Nestlé announces innovative plan to tackle child labor risks, increase farmer income and achieve full traceability in cocoa
Budapest, January 26, 2022: 31% of Hungary’s leading companies have already made a commitment to net zero. Significant financial resources are needed to accompany the expected increase in commitments. Is green funding ready to fill the gap? The Business Council for Sustainable Development in Hungary (BCSDH) and the British Embassy held a business forum with the participation of the Net Zero Advisory Board to present the current domestic and European situation of green financing to business actors.
It is important for as many companies as possible to commit to net zero targets, potentially even by joining the UN Race to Zero Campaign, but it is also essential to find the means by which to help them in this process.
“This event helps orientate companies to where they can source funding to decarbonise their operations. I hope it will encourage Hungarian businesses to sign up to the UN’s global Race to Zero Campaign where progressive businesses commit to the Net Zero target by 2050. Not only is this a target driven by government and international commitments and good for the planet, but it makes good business sense too” – said Richard Shackleton, Deputy Head of Mission of the British Embassy in his opening remarks.
The COP26 climate conference in Glasgow was a success in this field and the global financial sector appeared to be ready for action. With the announcement by the Glasgow Financial Alliance for Net Zero (GFANZ) it has become clear that 100+ trillion dollars are potentially available for engaging in climate action. Further, there was the historical launch of the International Sustainability Standards Board (ISSB) – a long-desired global standard-setter for capital market sustainability (ESG) disclosure that will truly prepare the world for the consolidation and standardization of materiality-based reporting on greenhouse gas emissions.
The EU also wants to mobilize its green financial resources.
“Hungary wants to be a net climate-neutral country by 2050, and we have also committed to a 55 percent national reduction by 2030. Companies play a key role in this process, and the domestic financial and consulting sector is also prepared to accelerate the process, for which such forums are essential” – highlighted Attila Chikán Jr., President of the BCSDH, pointing out the long-term positive processes that are just beginning.
“Inevitably, capital market engagement for business will radically change in this decade, and the standardization of ESG disclosure will integrate impacts on natural and social capital into the cost of capital for companies” – he added.
Csaba Kandrács Dr., Deputy Governor of Hungarian National Bank spoke about “The Hungarian National Bank’s policy in support of sustainable financing in 2022” Szabolcs Ágostházy Dr., Prime Minister’s Office’s State Secretary for EU Development Projects, gave a presentation about “EU funds for green investments in the 2021-2027 period”
Ákos Lukács, Head of Sustainability and Climate Change of Deloitte spoke about “Corporate net-zero ambitions matching sustainable finance products” Gergely Pókos, Director of Green Program Directorate of OTP Bank gave a presentation about “Vision of green banking products in corporate finance practice”
The BCSDH aims to generate changes in models and business solutions in Hungary that have a real impact on climate change and can generate real responses to domestic challenges due to their take up by other companies. An important step has been the establishment of the Net Zero Advisory Board that has the aim of increasing the focus on economic, governmental, and social factors in the transition to a carbon-neutral economy.
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Race to Zero
The Race to Zero is the UN-led campaign for a zero-carbon world. Close to 5227 businesses, including the likes of Facebook, Tesco, LafargeHolcim, and Magyar Telekom, and 441 of the biggest investors have joined the global Race to Zero campaign, along with over 1049 cities, 23 regions, and 1039 universities. Businesses of all sizes and across all sectors have a clear role to play in climate action, in line with the Paris Agreement.
Over the coming years, every sector in every market will be transformed as the transition to a low-carbon economy is underway. Committing to the Race to Zero goals of net zero carbon emissions by 2050 is also taking the steps necessary to protect and grow your business by reducing costs, by enhancing access to investor capital, by staying ahead of policies and regulations to limit GHG emissions, by increasing your business’ preparedness to external shocks, and by leading on tomorrow’s innovation and transformation.
https://bcsdh.hu/wp-content/uploads/2022/01/green-financing1.png6281200eszter.chikankovacshttps://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.pngeszter.chikankovacs2022-01-27 12:34:422023-02-27 00:45:51The financial sector is ready to finance the net zero transition