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3.11 Factors shaping the communication of the MNB
Pak cartons was introduced, further reducing the amount of waste going to landfill. In 2020, the modified work schedule because of the pandemic reduced the presence of employees in the office, with a related reduction of 41 tonnes of municipal waste in 2020. All of the scrapped electronic devices and equipment were donated to charity organisations for recycling purposes in 2020. The proportion of hazardous waste in total waste was just 1.1 per cent.
Water management
Due to the lower office occupancy rate, drinking water consumption decreased by 24.7 per cent in 2020. In the summer months of 2020, the overall average temperature was 0.5 °C lower, resulting in a 41.8 per cent decrease in the amount of well water used for irrigation.
One important objective for the 2020-2022 strategic period is to refine the carbon footprint calculation model and to revise and update the emission factors used. In 2020, the range of elements causing environmental pressures resulting from operational activities was expanded, and factors from the Clim’Foot database, also proposed by the WWF, were used in the model. The carbon footprint related to electricity consumption decreased by 35.9 per cent in 2020. This was partly due to lower energy consumption and partly due to the provision of 20-per cent renewable electricity for the Head Office and the Logistics Centre.
The decline in business travel emissions was significant; the smaller number of conferences and other events and their online delivery, even with a 20-per cent increase in emissions from taxi use, showed a decline of almost 80 per cent. The carbon footprint per capita decreased by 32.3 per cent in 2020.
3.11 FACTORS SHAPING THE COMMUNICATION OF THE MNB
In 2020, the MNB considered it important to continuously and transparently present the central bank’s activities, achievements, reports and recommendations. In order to supply comprehensive information and continuous updates on its technical work, the MNB held 35 press conferences and published 270 press releases. In addition, during the year it published 142 professional articles in the print press, on online economic portals and on its website in order to maintain the reputation created by the MNB’s high quality professional work and to reinforce positive public opinion. The central bank sought to increase the financial awareness of the corporate sector and the public through its social responsibility, supervisory, market surveillance and consumer protection activities and communication actions. The MNB also organised international conferences important for the management of its reputation abroad,
Table 7 Evolution of the carbon footprint of operational activities
Carbon footprint/cause
Electricity Natural gas and districk heating vehicles fleet
Total carbon footprint from energy use
Air travel Car travel abroad Domestic car travel Taxi usage
Total business travel
Refrigerants Banknote briquettes for energy purposes Recycled office paper Waste
Total other emissions Total carbon emissions (tons) Specific carbon footprint (tons/person) MNB's carbon footprint (CO2 emission in tons) 2019 2020 Change %
4092 2624 -35.9
848 966 13.9
123 104 -15.1
5,063
945 2.4 7.8 2.6
3,694
201
0.4 1.9 3.2
-27.0
-78.7 -83.5 -75.6 20.9
958 207 -78.4
5
18
2
6,021 4.6
156
181
4,082 3.1 -32.2
-32.3
and published professional articles in English on its website, which it distributed to interested foreign audiences through its social media platforms.
In 2020, despite the pandemic that negatively affected normal business operations, the MNB considered it an important task to present the central bank’s activities, achievements, reports and proposals continuously and transparently. In order to supply comprehensive information and continuous updates on its technical work, the MNB held 35 press conferences and published 270 press releases. From March on, press briefings took place in the online space, in line with the distancing rules imposed due to the pandemic.
In the course of its communication, the MNB focused on disclosing and explaining the key decisions concerning the core tasks of the MNB, monetary policy and financial stability. Accordingly, the MNB regularly presented the substance and background of its major decisions, disclosed the outcomes of Monetary Council meetings and published on an ongoing basis the results of supervisory inspections and procedures and the content of the measures, including those responsible for the infringements which were found. Warnings about the necessary precautions to identify risk related to financial operations also formed part of the supervisory communication in 2020.
The publication of professional articles was also smooth. The articles were intended to present an in-depth view of the MNB’s activities in adequate detail and in accordance with the requirements of clarity, while at the same time bringing interested parties closer to the work of the various functional areas and the explanation of the key results. In 2020, more than 140 publications appeared, and the MNB was assisted in this by reputable news and economic websites. The professional articles, analyses and summaries were also posted on the mnb.hu website in order to maintain the reputation created by the central bank’s high quality professional work, to strengthen positive public opinion and to increase the number of visitors of the website.
The central bank sought to increase the financial awareness of the corporate sector and the public through its social responsibility, supervisory, market surveillance and consumer protection activities and communication actions. Increasing consumers’ knowledge was a focus area in the central bank’s communication in 2020 again, not only through supervisory press relations but also in the form of topical campaigns. For example, awarenessraising communication activities characterised the summer regarding information about travel insurance, mainly domestically due to travel restrictions, while the online and print content pointed out the importance of responsible borrowing before the Christmas holidays. Moreover, the central bank paid special attention to broadening the range of Certified Consumer-Friendly Products: in addition to housing loans, some home insurance policies and personal loans already have the Certified Consumer-Friendly Trademark, so the active communication on these also began in 2020.
In February and March, the MNB’s key communication topics included the preparation and launch of the Instant Payment System and the first experience reports. The central bank’s proposals and decisions in March and April, which helped the country recover quickly from the economic crisis caused by the pandemic, were the subject of great interest: the proposal to introduce a moratorium on repayments, the launch of the FGS Go!, the extension of its applicability and financial framework, the expansion of the conditions of the BGS and the support for the operation of banks in a business environment changed by the pandemic were all important communication topics. During the year, the MNB made proposals (consisting of 50 points) to address the economic impacts of the pandemic, and also paid particular attention to the positive media response.
The distancing caused by the pandemic shifted the focus of communication to the online space, creating a special situation. In response to this, the MNB launched a video blog series in the summer of 2020, which was complemented with a podcast series. In addition to informing the public and raising its financial awareness, the main purpose of producing this content was to highlight professional achievements. During the year, a large amount of audio-visual content was published on the MNB website and on all its social media channels.
In 2020, communication on expired banknotes and coins made of new base material continued, as well as the MNB’s commemorative coin programme, in parallel with which the central bank issued special commemorative circulation coins as a tribute to the self-sacrificing work of the ‘Respect for the heroes’, the health, trade, public sanitation and logistics workers. Professional communication on strengthening the importance of green finance and FinTech and digitalisation developments also remained in focus.
In addition, the MNB has placed great emphasis on communication on the social media platforms: with nearly 90,000 followers, the social media side of the central bank is able to provide a large number of contact points. The central bank also organised international conferences important for the management of its reputation abroad
