ECB may be criticised for its monetary policy but is doing some amazing work on environment.
This blog has been posting (one and two) on ECB’s policy to curb its carbon footprint and impact on environment. This involves things like lowering usage of resources like water, paper, electricity etc. They also try and nudge employees into not using cars to come to work by building bicycle stands and lesser number of parking lots! Employees are also encouraged to use more of video conferencing over taking jets etc to other places (though video-con also uses energy, but leaves lesser carbon footprint).
In this recent update ECB looks at the targets given in 2011. There has been progress on most fronts.
The ECB’s carbon footprint is ascertained on the basis of the environmental inventory figures outlined above.8 The calculation includes indirect CO2 emissions arising from the consumption of electrical energy, energy consumption for heating and cooling, staff business travel and paper consumption. In 2011 the scope of the inventory was extended to include, for the first time, CO2 emissions resulting from external participants travelling to ECB conferences and special events. In order to ensure that the 2011 footprint remained comparable with those of previous years, the CO2 emissions estimated for external participants were not included in the graph below.9 Other direct CO2 emissions (e.g. those resulting from the consumption of fuel by the eight ECB cars) were not taken into account, since they are fairly insignificant.
Comparing data for 2009 and 2011 reveals a 30% reduction in carbon emissions. These reductions were achieved mainly by switching to electricity from renewable energy sources (i.e. hydropower) in 2011 and as a result of the decline in the primary energy factor of the ECB’s local heating supplier in 2011. Owing to increased demand for communication in meetings, particularly as a result of the ongoing financial crisis, CO2 emissions stemming from business travel were up 7.4% on 2009. However, following an assessment of costs and benefits of carbon neutral business travel by train in the scope of the Environmental Management Programme 2010-11 (point 2) all CO2 emissions and the total energy consumption of all business travel by train with Deutsche Bahn (28.1 tonnes of CO2) were offset.
The main impact of the ECB on the environment and about 75% of its carbon footprint are caused by electric, heating and cooling energy. CO2 emissions have been reduced considerably since 2009, mainly via technical and organisational measures. Although individual targets, such as the reduction of office paper consumption or waste production have not been achieved, the ECB has taken a big step towards reaching its long-term target of reducing its carbon footprint. As a result, its environmental performance has improved significantly.
Interesting updates from ECB..