13. Climate-Relevant Emissions

The company discloses the GHG emissions in accordance with the Greenhouse Gas (GHG) Protocol or standards based on it and states the goals it has set itself to reduce emissions, as well as its results thus far.

Rentenbank subscribes to the goals of the UN climate conference in Paris 2015 (COP 21), which aims to limit global warming to significantly below 2°C, and if possible, 1.5°C compared to pre-industrial times. The quantifying of decarbonisation goals with an appropriate schedule will be made by the end of 2021.

Climate-friendly banking operations
The main sources of emissions in our banking operation are the heating of our offices, business travel, and the use of electricity.

In its evaluations of its CO2 equivalents (CO2e), Rentenbank orients itself towards the international standards of the Greenhouse Gas Protocol and classifies them in accordance with scopes 1 to 3. These calculations relate to our site at Hochstraße 2 in Frankfurt am Main, which is Rentenbank’s only site.

Overall emissions in 2020 fell significantly from 465.84 t CO2e to 401.92 t CO2e, compared to the prior year (2019). 1.16 t CO2e and 1.51 t CO2e were emitted per employee in 2020 (347 employees) and 2019 (309 employees) respectively. This corresponds to a reduction of 23% per employee.

Rentenbank takes its binding responsibility for the environment seriously and is currently in the process of renovating its office at Hochstraße 2 in order to make its consumption of resources significantly more efficient, particularly in relation to energy. From 2021 onwards, our banking operations will run on green electricity from 100% renewable energy. It is our intention to reduce our CO2 emissions from our banking operations in the medium term as much as possible, nevertheless we also have the obligation to preserve our listed building.

Climate-friendly funding
As part of the Sustainability, Environmental and Consumer Protection and Forestry programmes, we support initiatives aimed at improving energy efficiency and reducing emissions with particularly attractive loans (at our best rates). In addition, Rentenbank supports climate-friendly energy changes through its Renewable Energy promotional programme.

Climate-friendly business travel
Rentenbank will be switching its fleet over to electric vehicles over the next few years. For this reason, we have installed a charging station at our company parking lot in 2020. In 2021, we will be putting a second charging station into operation.