Santo Domingo – The popular Bank Dominicano revalidated its certification as a carbon neutral organization, granted by the Brihgtline Institute, remaining the only financial entity in the country to obtain this endorsement twice.
Demonstrating how it compensates its Greenhouse Gas (GHG) emissions with its environmental sustainability and eco-efficiency programs.
This international certification confirms that the bank complies with the ISO 14064-1: 2018 standard, so that its mitigation strategy is effective and contributes to the sustainable development of the country.
Promoting a low-carbon economy, by managing to offset 159,993 tons of CO2, mainly thanks to its reforestation programs, among other environmental and eco-efficient measures implemented.
Along with Banco Popular, only two banks in Latin America have managed to neutralize their carbon footprint emissions, including their direct, indirect and induced emissions.
To obtain the certification, the bank submitted to the evaluating body a report that comprehensively analyzes Popular’s actions to mitigate and adapt to climate change, increase its resilience and strengthen the green financing portfolio for sustainable actions in the country.
The carbon footprint study determined that in 2020 Popular emissions were 11,343 tons of CO2, which represents a reduction of the carbon footprint of 40%, with respect to the emissions recorded in 2015, the base year of the corporate inventory of emissions.
Zero emissions goal in 2030
This rate, the certification indicates, ensures that the financial organization can achieve the goal of being a zero CO2 emissions institution by 2030.
In this regard, the executive president of Popular, Mr. Christopher Paniagua, expressed his pride in this institutional milestone, which honors the efforts that the bank has made to lead and extend a sustainable vision in the country.
“This revalidation shows that it is possible to operate under parameters of sustainability, which generate wealth and at the same time contribute to the economic, social and environmental development of the Dominican Republic, an obvious way of doing responsible business, whose model the Popular has been developing since its origins” , stressed the executive president of the bank.
This institutional achievement of Banco Popular in terms of emissions mitigation is part of its goals as a signatory partner to the United Nations Principles for Responsible Banking and the Paris Agreement for climate change.
