The day-to-day operations of the Central Bank are not exempt from the generation of waste and emissions, which could be a source of pollution, such as the use of batteries in power generators or the retirement of computer equipment, or not a source of pollution, such as the waste generated by the destruction of damaged banknotes.

The Bank is aware that its operations have an environmental impact and therefore takes the following precautions:

The three main areas of environmental management at the Bank are the following:

12.1 Waste Management

In the last two years, the Bank has implemented a number of initiatives aimed at reducing the total waste generated annually and increasing the quantity of waste that is recycled. As a result, the share of waste destined for recycling increased 21%, from 31.17 tons in 2017 to 37.75 tons in 2018.

Recycled waste increased 21% between 2017 and 2018.

This improvement is the result of the active stance adopted by the Bank, in line with the National Waste Policy for 2018–2030. In 2018, The Bank organized recycling campaigns at its offices and increased research into alternative uses for the materials deriving from the destruction of damaged banknotes, such as conversion into fuel or raw materials for various production processes.

In 2019, the Bank will implement concrete programs for recycling both cotton and polymer banknotes that are destroyed due to deterioration.

Power generator batteries and electronic waste such as tonners, and cartridges are considered hazardous waste. For their disposal, the Bank has contracts with specialized waste management firms.

Other waste, such as retired computer equipment, is sold off once a year at a public auction. The useful life of the waste materials is thus extended through reuse by people who buy the equipment at auction.

12.2 Emissions Reduction

The Bank recognizes the importance of monitoring its atmospheric emissions, which are mainly generated by air conditioners and power generators. Air pollution has many consequences for human, animal, and plant health, as well as the potential to contribute to climate change. Air quality remains a top priority in the country’s environmental management, and the Bank hopes to make a positive contribution.

Over the next two years, the Bank plans to renovate both the water heating system and the backup electrical system for the building located on Agustinas Street in Santiago, in order to contribute to the reduction of atmospheric emissions.

Additionally, within the Bank’s investment portfolio, there is an interest in investing in projects or assets that reduce CO2 and other pollutants.

12.3 Restoration of the Central Bank Façade

In April 2018 a ceremony was held to mark the completion of the total remodeling of the façade of the Central Bank building. The work spanned 16 months and constituted the most extensive building maintenance project undertaken since the 1940s. It also coincided with the Bank’s 90th anniversary at its current location.

The conservation work included the complete repair of the building façade on Agustinas and Morandé streets, with improvements to the wainscoting, stucco, and ornamentation and the reparation of cracks and other structural damage that posed a potential risk to pedestrians. The companies involved in the restoration were Construcciones Moguerza and Tandem Limitada (architecture, heritage, and restoration) and MPP (technical building inspection).

The restoration included meticulous work by a team of experts to recover the bronze front door—one of the most important pieces in the building architecture—and the lighting fixtures in the Bank’s main entryway.

Other features include the installation of a new lighting system, to highlight the columns, cornices, and balustrade, and the name of the Central Bank at a height of approximately 30 meters.

12.4 Energy Efficiency

Over the last two years, the Bank has monitored energy consumption at its facilities, in order to measure the results of its initiatives to promote the efficient use of energy and resources.

The biggest reductions have been achieved at the main building on Agustinas Street; the Constitution Plaza building, located on Morandé Street; and the warehouse on Cumming Street. The total energy savings between 2017 and 2018 was 674,911 KWH of electricity.

With these and other actions to improve environmental efficiency,the Bank invested approximately Ch$1,715,390.00 in 2018.

12.5 Sustainable Infrastructure Projects

• Replacement of temperature control systems
  In all Bank buildings to help reduce energy consumption.
• Modernization of central heating and air-conditioning systems
  To promote more efficient energy use and increase energy savings.
• Pilot plan to upgrade lighting system
  Development of a pilot plan using motion sensors to control lighting.
• Infrastructure improvements
  Energy savings, efficient water use, and better insulation.
• Modernization of the elevators
  Project to modernize the elevators using new technologies that are faster and use less energy.
• Accessibility
  Improved access for people with reduced mobility.
• Solar panels
  Evaluation of a project to install solar panels within five years (2018–2022) to prioritize the use of renewable energy, generate electricity at Bank buildings, and possibly contribute electricity to the public power system.

The Central Bank of Chile has also implemented programs to reduce the impact of its operations:

• Reduction in paper use
  Reduction in printing.
  Decrease in the number of printers.
  Replacement of printers with energy-efficient models.
• Reduction in energy use
  Automatic shutdown of PCs at the end of the work day.
  Reduction in the number of lights in hallways and wherever feasible.
  Shut-off of air conditioning after regular business hours.
  Elimination of all electrical appliances or equipment that are not the property of the Bank (electric kettles, radios, toasters, shoe polishers, etc.).