LLB adopts path towards climate neutrality
20 November 2023
Liechtensteinische Landesbank (LLB) sees climate change as the most pressing challenge for humanity today. The bank offers sustainable products with the aim of achieving full climate neutrality by 2040 as it strives to play its part in the fight against climate change.
Liechtensteinische Landesbank (LLB) is striving to achieve full climate neutrality by 2040. This ambition is outlined in a press release, in which the bank touches upon its goals for the future. In the second LLB report produced on the basis of recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD), LLB presents both the current status of its climate efforts in addition to the steps to be taken in the future. The TCFD is an international group of experts established by the G20 group of states and the Financial Stability Board (FSB) in 2015. According to the current report, LLB has recorded a long-term decline in key indicators such as the carbon footprint of banking operations. The expansion of the bank’s product portfolio to include new, sustainable offerings was a particular highlight in 2022. “We're headed in the right direction in banking operations”, comments Gabriel Brenna, CEO of the LLB Group, adding that: “The development in products is also positive”.
Financial offers and corresponding asset management measures should enable investors to make targeted investments in companies and projects with a positive climate impact. In terms of the bank itself, LLB intends to increasingly withdraw from the use of fossil fuels. At the start of 2024, LLB is also set to launch new mortgage products with advantageous conditions that seek to promote sustainable construction activities in its domestic financing markets of Liechtenstein and Switzerland