Hungarian central bank sets plans to become carbon neutral

On the 04/02/21 at 4:02PM


Adrien Paredes-Vanheule


Hungary's central bank and financial market regulator, the Magyar Nemzeti Bank (MNB), will work with the non-governmental organisation focused on nature conservation WWF Hungary to reduce its carbon footprint.

As part of a green programme initiated in 2019, MNB has committed to trim its CO2 emissions by 30% over the next two years and by 80% by 2025, which is above emission cuts targets set by the European Union (55% with the new revision). Other local bodies have implemented programmes to ease and speed up the transition of the whole Hungarian economy towards carbon neutrality by 2050.

In addition, MNB intends to compensate further CO2 emissions, in particular those issued during its own events and conferences held in 2020 as well as those deriving from its operations in 2021. It will do so through a long-term ecological investment in habitat restoration alongside WWF Hungary. MNB will therefore implement a 27-hectare afforestation near the village of Geszt in the Körös-Maros National Park.

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