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Klima

LLB sets sights on operational climate neutrality by 2040

16 Mar 2022
Vaduz - Liechtensteinische Landesbank has signed the Climate Pledge. In so doing, this financial institute with a rich history has become the first bank in Liechtenstein, Switzerland or Austria to commit to implementing operational climate neutrality by 2040 - a full decade ahead of the Paris Agreement.

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Liechtensteinische Landesbank (LLB) has announced that it has signed up to the Climate Pledge, further details of which can be found in a press release. By joining this group of 300 members, the traditional financial institution guarantees that it will implement the announced climate target to offset its own emissions by 2040, a full ten years before the deadline set by the Paris Agreement. According to the press release, the goal is to reduce carbon emissions to net zero for all operational CO2 emissions as well as the indirect emissions generated by banking products and proprietary investments.

The LLB Group has now become “the first bank in Liechtenstein, Switzerland, and Austria which, as a member of the Climate Pledge, is promising to achieve operational climate neutrality ten years ahead of the deadline set out in the Paris Agreement on climate change”, the bank writes in the press release.

According to the Climate Pledge website, the initiative is a “call to businesses and organizations to take collective action on the world’s greatest crisis and to work together to build towards a safe and healthy planet for the next generations”.

The LLB Group is the only bank in Liechtenstein with an MSCI sustainability rating of AA. According to information from the organization itself, an MSCI ESG rating measures “a company’s resilience to long-term industry material environmental, social and governance (ESG) risks”.

By joining the Climate Pledge, LLB is demonstrating its commitment to further aligning its business activities with sustainability goals. “We have already been climate neutral since 2021 by investing in carbon-reducing environmental protection projects in the region and worldwide in cooperation with the Swiss myclimate foundation”, comments Group CEO Gabriel Brenna in the press release.