Act with purpose, make a positive impact on the world
The festive season is just around the corner and with it the end of the year, but also days that we would like to use to look beyond the horizon of everyday life and reflect on the essentials. That is why we at the Bankers Association have chosen this as our motto for the coming days. But what do we mean by this in concrete terms?
The climate conference in Glasgow has just ended. Glasgow was another step in the right direction, but it does not solve all the problems by far, nor did it achieve what many expected from the climate summit. For the first time, coal and other fossil fuels were declared to be phased out. Moreover, the countries will already present their new savings targets at the end of 2022, which is three years earlier than originally planned. For the young climate activists around Greta Thunberg and the Friday for Future movement, Glasgow has failed grandly. And there is also a lot of other fundamental criticism. The fact is that even if we implement all the commitments, we will not reach the 1.5 degree target, but will end up at around 2.4 degrees.
The greatest achievement of Glasgow is that with the Glasgow Financial Alliance for Net Zero (GFANZ) 450 financial institutions from 45 countries, responsible for a total of 130 trillion US dollars, committed themselves to net zero and thus to co-financing the transformation of the economy towards more sustainability. The banking industry is part of this and has joined forces under the umbrella of UNEP FI to form the Net-Zero Banking Alliance (NZBA). The Liechtenstein financial centre is also part of this solution-oriented grouping. With LGT Group, LLB and VP Bank, all three major Liechtenstein banks with a share of more than 85% of assets under management have also joined the NZBA and have a clear roadmap to net zero.
It is no coincidence that the Liechtenstein banks have expressed an ambitious vision in their Roadmap 2025, the multi-year strategy of the banking centre: we want to make a valuable contribution to the transformation of the global economy towards greater sustainability. The banking centre is thus making a unified and even more pointed commitment to innovation and sustainability, the two drivers of growth and prosperity. It is a comprehensive sustainability that not only takes into account the admittedly urgent climate issues, but is holistic and aligned with the UN's 17 Sustainable Development Goals (SDGs).
But what do the SDGs entail, and is the public aware of them? To raise awareness of the SDGs, the LBV has launched an information campaign and is dedicating the entire month of December to the SDGs. This year's online Christmas calendar will take a closer look at one SDG on each working day.
Let us surprise, inspire and motivate you day by day. Become an SDG ambassador with us!
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