MBH Bank supports the environment with ten thousand trees

By: Trademagazin Date: 2023. 05. 16. 08:57

MBH Bank has taken another step towards sustainability: within the framework of an internal initiative, the bank group planted ten thousand native Hungarian tree seedlings in Southern Transdanubia this spring. The purpose of the program is two-fold, as it combines the goals necessary to achieve carbon neutrality defined in the bank’s ESG Strategy and its aspiration to be an active participant in shaping the attitude of its employees and customers regarding sustainability. The saplings planted with the involvement of a professional partner are expected to develop into a full 2.5-hectare forest by 2025, which, according to estimated calculations, will sequester more than a thousand tons of carbon dioxide over a 100-year period.

MBH Bank planted ten thousand tree saplings in Southern Transdanubia – the banking group also wants to contribute to creating a more livable future and a greener environment. During the initiative, in March of this year, 140 bank group employees who wanted to actively participate in the achievement of the ESG goals, which are related to the carbon neutrality and attitude shaping pillars of the ESG strategy, planted native trees in our country. A local professional organization assisted Magyar Bankholding’s workers in the planting, thus ensuring expert care of the plants.

Based on the estimate of the professional organization that joins the program, the total sequestration can be approximately 420 tons per hectare over 100 years, at the end of which it will decrease sharply because the trees will reach their maximum size, which in the case of the 2.5-hectare, newly created forested area is 1,050 tons of carbon means dioxide binding. In Hungary, the carbon dioxide emissions required for an average lifestyle are 5-6 tons per person.

“With regard to the decarbonization goals defined in the ESG Strategy, Magyar Bankholding strives to contribute as much as possible through its activities to the achievement of the goals contained in the Paris Agreement by reducing its carbon dioxide emissions as quickly as possible. As a preliminary step to this, we planted ten thousand saplings together with our colleagues next to the village of Dúzs in Dél-Dunántúli. I am very proud of all my colleagues who personally participated in the program, and neither getting up early nor the cooler weather discouraged them from doing something good.”

– said András Puskás, chief adviser to the president of MBH Bank.