LLB publishes inaugural report on climate protection measures
Liechtensteinische Landesbank (LLB) has published a report on its climate protection measures. With this report in accordance with the internationally recognized standards of the Task Force on Climate-related Financial Disclosures (TCFD), LLB is the first bank in Liechtenstein to outline the full extent of its climate footprint. Further details can be found in a press release.
According to the press release, LLB presently offsets emissions by investing in CO2-reducing environmental protection projects in the region and worldwide in cooperation with the Swiss climate foundation myClimate. In so doing, its banking operations are managed on a climate-neutral basis since 2021.
The report also explains how the group intends to gradually reduce its greenhouse gas emissions to net zero by 2040. This includes not only banking operations but also banking products and own investments.
“The report also focuses on how climate-related risks are dealt with and the opportunities that result from them”, the press release states. In future, this information will be published annually as part of a TCFD report, allowing investors, lenders and insurance companies to evaluate climate-related risks and opportunities in the process.
The press release also states that in addition LLB is the only bank in Liechtenstein to have a AA rating from the US financial services provider MSCI with regard to the ESG (Environmental, Social, Governance) sustainability criteria. “Sustainability is a key element of our new strategy ACT-26. We have set ambitious goals for ourselves and want to play a pioneering role here”, explains Gabriel Brenna, CEO of the LLB Group, in the press release.