carbon neutrality
bankmecu’s carbon management strategy has been endorsed by the Sustainable Development Committee of the Board and aligns with EPA Victoria’s framework of:
- measuring
- setting objectives
- avoiding emissions
- reducing
- containing
- assessing; and
- offsetting.
bankmecu made a commitment in 2009 to become carbon neutral by 30 June 2010. This commitment was delayed for various reasons including uncertainty in the regulatory market, merger activity and the view resources would best be spent ensuring resource efficiency practices were consistent across all service centres post merger.
This year bankmecu purchased 2150.40 tCO2-e greenhouse gas emission offsets from Climate Positive, a not-for-profit offset provider, to achieve carbon neutral operations. Refer to bankmecu’s Spotlight – Carbon Neutrality for further information.
In addition to bankmecu offsetting its own operational emissions, bankmecu’s print provider Vega Press became 100% carbon neutral in 2009, with greenhouse gas emissions independently audited and verified. Vega purchases sufficient carbon offsets to ensure all the operational greenhouse gas emissions generated during the print production process have been calculated and offset.
Vega now purchases carbon offsets on behalf of bankmecu to cover the Scope 3 emissions associated with bankmecu’s printed products. During the period from 1 July 2010 to 30 June 2011, 37.2 tonnes of carbon offsets were purchased by VEGA on behalf of bankmecu.