LLB publishes inaugural report on climate protection measures

Liechtensteinische Landesbank (LLB) has published a report on 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 now also the first bank in Liechtenstein to outline the full extent of its climate footprint, further details of which can be found in a press release.

According to the press release, LLB presently offsets emissions by collaborating with the Swiss climate foundation myClimate to invest in environmental projects both on a regional and global basis that aim to reduce CO2. In so doing, its banking operations have been 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. In addition to banking operations, this also includes banking products and its own investments.

“In addition, the report focuses on how climate-related risks are dealt with and the opportunities that result from this”, the press release states. In the 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 goes on the explain that LLB is additionally the only bank in Liechtenstein to have a rating of AA from the US financial services provider MSCI in connection with 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.