Even if Ethias’ activities do not seem polluting, the company and its employees still represent an environmental impact through their travel, energy consumption, waste and CO2 emissions, or even water and paper consumption. Ethias must reduce this harmful impact on the environment and increase its positive impact. Ethias is well aware that ambition is not enough. To make a difference, it needs a rigorous new climate transition plan defining the steps to reduce its own greenhouse gas emissions as much as possible (scope 1 and 2) by 2030 and achieve Net Zero by 2050.
This new version of Ethias' transition plan is being drawn up in line with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), recognised practices of financial institutions, and the environmental goals set by the EU. Ethias has set targets that it wishes to align scientifically with a 1.5°C trajectory in line with the Paris Agreements for its operational activities, supply chain and investments (according to Science Based Targets initiative (SBTi)).
Ethias is not starting from scratch in this area. Ethias has measured its carbon emissions since 2012. In 2020, it drew up its 1.0 Change Over transition plan in which it set out its ambition and trajectory to achieve a maximum reduction of its own CO2 emissions (scope 1 and 2) by 2030 (using the GreenHouse Gas (GHG) Protocol Standard method).
In 2022, Ethias took a further step forward by signing the NET ZERO 2050 SBTi commitment accelerating its ambition to make its entire value chain carbon-free at the Group level by 2050. Ethias is actively preparing its new transition plan (version 2.0) to be submitted to the SBTi scientific committees in December 2024. Ethias is broadening the scope of activities with decarbonisation targets, including its investment activity, which now accounts for the largest share of its indirect emissions. Making Ethias asset management carbon-free will be a key element of Ethias’ transition. As a financial institution, Ethias is a catalyst that helps accelerate the transition in key sectors where long-term private investment is essential (such as sustainable transport, green energy infrastructure, building renovation,...).