Sustainability Report 2022

A large part of our emissions are classified in Scope 3 and originate in particular from
commuter traffic. In 2022, per employee on a full-time basis, CO 2 emissions amount to
1.39 tonnes.
t CO 2 e 1
Scope 1 – direct emissions 208
Scope 2 – indirect emissions from purchases 165
Scope 3 – other indirect emissions 1’269 2
Total 1’642
t CO 2 e 1
Electricity 2 65
Heat 395
Transport 723
thereof commute 3 375
Paper 437
Water 4
Waste 18
Total 1’642
t CO 2 e 1
Per FTE 1.39
1 In tonnes (t) greenhouse gas emissions in CO2 equivalents (e). The emissions were calculated using the VfU key
figures (version 2022) and include certain assumptions and estimates.
2 External data centres are not included.
3 The majority of employees travel by public transport.
Association for the
decarbonisation of
the local industry
In 2022, VZ Depositary Bank Ltd co-founded an association for the decarbonisation of
the local industry (Verein zur Dekarbonisierung der Zuger Industrie). The association,
with representatives from industry, energy, finance and research, adopted a joint strategy
to develop rapidly implementable and holistic approaches to reducing CO2 emissions.
The focus is on high-temperature processes and logistics.
Industrial high-temperature processes rank third in Switzerland’s energy consumption.
The association plans to build a plant in Zug that will generate hydrogen in a new process.
The process is based on methane pyrolysis, in which hydrogen (H2) is split off from
methane (CH4).
The association aims to contribute to the rapid implementation of this technology in
industrial operations. With their broad professional backgrounds, the partners in the
association’s network cover the entire value chain.
48 Sustainability report 2022