The Liechtenstein Bankers Association joins UN-convened Net-Zero Banking Alliance as a Supporting Organisation
After the European Banking Federation, the Liechtenstein Bankers Association (LBA) is also joining the Net-Zero Banking Alliance (NZBA) as a Supporting Organisation. The industry-led, UN-convened Net-Zero Banking Alliance is Race to Zero-accredited and represents the banking element of the Glasgow Financial Alliance for Net Zero.
The LBA is a strong believer that there needs to be a systemic change and hence a shift of mindset in our society, where each and every one of us has to start with themselves. As a result of this partnership, the LBA commits itself to reducing emissions from operations to net zero by 2030. The LBA has set itself the following targets:
- -25% CO2 emissions/FTE by 2023 (base year 2019)
- -50% paper consumption/FTE by 2023 (base year 2019)
- 100% renewable energy by 2023
These goals go beyond the many measures already introduced by the LBA itself such as CO2 reduction, CO2 compensation of unavoidable emissions, exclusive use of tap water, etc. and are to be achieved by raising employee awareness and reducing consumption.
By 2030 or sooner, operational emissions are to be reduced to the greatest extent possible. All unavoidable emissions will be removed from the atmosphere through CDR measures, mainly through participation in reforestation projects.
With LGT, VP Bank and LLB, all three large banks have also already joined the NZBA.
“Becoming a NZBA Supporting Organisation is another important step in the implementation of our Roadmap 2025 and our commitment to play an active role in supporting the transformation towards a sustainable future. With the targets we have set, we want to put our money where our mouth is, and it is a clear signal just ahead of this year’s COP26 taking place in Glasgow that we take our share of responsibility,” said Simon Tribelhorn, CEO of the Liechtenstein Bankers Association.
#Sustainability, #Roadmap2025, #SDGs, #NetZero, #NZBA, #sustainablefinance, #ClimateChange, #LiechtensteinBanks, #LGT, #VPBank, #LGT