The Mediobanca Group, of which CMB Monaco is part, has become carbon neutral, following a project to offset its CO2 emissions remaining after the domestic climate change mitigation action taken, and in so doing has beaten the objective to reduce its impact on the environment included in the 2019-23 Strategic Plan.
This initiative, promoted in conjunction with the technical non-profit organisation Rete Clima, allows the Mediobanca Group to neutralise its remaining greenhouse gas emissions, which in FY 2019-20 were equivalent to 5,618.81tonnes of CO2(tCO2eq) by acquiring carbon credits generated from environmental protection projects in developing countries.
In particular, the Mediobanca Group is supporting a wind electricity generation project, helping to develop and run one of the largest wind farms in the Philippines, with an overall capacity of 150 MW (the Burgos Wind Project).
The project addresses three of the United Nations’ Sustainable Development Goals, on generating electricity from renewable sources, creating jobs, and reducing greenhouse gas emissions, all included in the 2030 Agenda for Sustainable Development.
