Most of Europe’s largest 50 banks have rejected EACOP oil pipeline
• Largest European banks not to have ruled out EACOP finance are Lloyds, UBS, Caixa Bank, Danske Bank, Sberbank and Commerzbank.
Website | http://www.erstegroup.com |
Headquarters |
Am Belvedere 1
1100 Vienna
Austria
|
CEO/chair |
Peter Bosek CEO |
Supervisor | |
Ownership |
listed on Bucharest Stock Exchange, Prague Stock Exchange & Vienna Stock Exchange
Erste Group Bank's shareholder structure can be accessed here. |
Subsidiaries |
Česká spořitelna – Czech Republic
|
Erste Group Bank was founded as the first Austrian savings bank (“Erste Oesterreichische Sparkasse”) in 1819. Erste Group Bank is one of the largest financial services providers in Central and Eastern Europe in terms of clients and total assets, operating more than 2,500 branches in seven countries.
Erste Group Bank's most important sustainability commitments can be found at the website sections listed below.
Erste Group Bank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Erste Group Bank's link to these deals.
Erste Group Bank does not operate a complaints or grievances channel for individuals or communities that might have been affected by the bank's finance.
This page evaluates Erste Group Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
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Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Erste Group Bank’ fossil fuel policy below.
Erste Group Bank is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.