Climate change, scarcity of resources, loss of biodiversity – these are just some of the challenges we face as a society. In all business transactions, we pay attention not only to the economic but also to the ecological and social effects. We implement this in the context of environmental and social assessments and by focusing on resource efficiency and renewable energy, two key aspects of the OeEB, among other things.
Transition plan
OeKB has set itself the goal of developing a science-based transition plan in line with the Paris Agreement, in coordination with the responsible ministries, by 2027. Method evaluation and the calculation of greenhouse gas emissions for the portfolio have already been initiated.
OeEB is committed to achieving net zero emissions by 2040, in line with the political target of the Republic of Austria. A detailed transition plan to reduce greenhouse gas emissions is currently being developed.
The new OeEB Strategy 2024–2028 states that “all financial flows – at project, portfolio and institutional level – are to be aligned with the objectives of the Paris Agreement (‘Paris Alignment’).” OeEB will not enter into new financing for oil, coal, or the exploration and production of natural gas. Specific details will be defined in the course of preparing the transition plan, which is scheduled for completion in 2025.
As a green development bank, OeEB is committed to playing a leading role in mitigating climate change and adapting to its inevitable consequences. In its policy paper, OeEB states that it (i) reviews all new activities for compatibility with the goals of the Paris Agreement, (ii) aims to achieve a climate-neutral portfolio by 2040, (iii) continues to make an ambitious contribution to international climate financing, (iv) advances climate ambitions within the network of the European Development Finance Institutions (EDFI) and with its clients, and (v) ensures that internal processes are aligned with climate objectives.
Energy and resource management
The OeKB Group continuously monitors and optimises its energy consumption at its locations in Strauchgasse, Am Hof, Wipplingerstraße and at the data centre in Vienna’s 21st district. Energy management efforts focus particularly on the Strauchgasse building, as OeKB, as the owner, has the greatest influence here. In addition, OeKB is subject to the Austrian Energy Efficiency Act (EEffG). Accordingly, further measures to reduce energy use are being implemented on an ongoing basis.
- Since 2005 green electricity has been purchased.
- As part of the “Future Office” project, all office lighting has been converted to LED since 2019 during ongoing renovations. The refurbishment of one floor results in permanent savings of around 20,000 kWh.
- By combining the use of waste heat from cooling production for the data centre with the installation of an additional high-temperature heat pump, the remaining available waste heat can be used for heating operations and hot water preparation. With constant cooling requirements in the data centre, this enables a reduction in district heating use at the Strauchgasse building by 40–50% (290 MWh).
- For the locations in Vienna’s first district – Am Hof, Strauchgasse and Wipplingerstraße – the OeKB Group purchases electricity exclusively from hydropower. In the event of supply shortages, only renewable energy sources are used as a backup.
- A photovoltaic system with 31 kWp makes a small contribution to the building’s energy production at the Strauchgasse location.
- A state-of-the-art green IT data centre not only provides the necessary redundancy but also uses waste heat from cooling for heating the building, thanks to an efficient cooling system.
For the completion of the renovation work and the loft conversion in the OeKB building on Strauchgasse, OeKB received a GreenBuilding Partner certificate in 2012. By joining this program, OeKB has undertaken to disclose the energy certificate, energy savings and current status compared to the state before the refurbishment.
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