Information checkedInformation unaudited Information geprüft Information ungeprüft Half-time for sustainability: An interim assessment
ACT-26 made sustainability a core element of the LLB Group's strategy for the first time. A lot has happened in the meantime – let’s look back at the challenges and successes.
“What does a bank have to do with sustainability in the first place?" – many employees probably asked themselves this question at the outset. Creating the necessary understanding was the first major task for the sustainability team.
The answer in a nutshell: a lot. On the one hand, the bank can focus more on climate and environmental protection, employee health, gender equality, and other important sustainability issues within its own operations. On the other hand, we have a great responsibility when deciding which companies we invest in.
We have discussed these and other issues intensively over the past two and a half years and have achieved a number of successes in terms of sustainability. Here is a brief – subjective – overview of the key milestones:
Our targets
Defining binding targets is a hurdle that many companies fail to overcome. Not so at LLB: we decided early on to adopt clear reduction targets for our CO2 emissions. By 2026, we aim to reduce emissions in our banking operations – such as in our buildings and employee mobility – by 20% compared to our base year of 2019, and even by 30% for our products. We are committed to achieving full climate neutrality by 2040. We have also established similar performance indicators in other areas, such as the proportion of women in management roles and the generation mix.
Climate-friendly banking operations
We have made considerable progress in banking operations in recent years: the reduction in CO2 emissions of around 23% since the base year 2019 has already exceeded our target for 2026. The reasons for this are the switch to green energy, energy savings and our mobility concept. For example, we promote public transport tickets and offer bonuses to employees who choose not to use a parking space at the bank. We have also successfully switched almost all buildings to green electricity, further reducing our CO2 footprint.
Responsible investments and products
To achieve our ambitious sustainability goals, we have developed innovative financial products that enable our clients to invest responsibly and sustainably. We are particularly proud of our two climate impact funds: with LLB Impact Climate Equities Global Passive, the financed CO2 emissions are over 80% lower than those of the MSCI Equities World Index. Additionally, LLB Impact Climate Bonds Global invests primarily in green bonds, allowing investors to deploy capital in a targeted manner for climate-protecting activities.
Our investment app wiLLBe is a particular highlight. It enables investments in fractional shares, providing diversified access to the capital market even with small amounts. Investors can focus on seven sustainable themes and achieve significant CO2 savings.
We have also made progress on the lending side: with the environmental mortgage, we offer an attractive financing option for environmentally conscious construction or renovation. Clients benefit from preferential conditions for five years if their new building meets the highest energy standards or they carry out an energy-efficient refurbishment. And with our latest innovation, the CO2 and renovation calculator, clients can calculate the renovation requirements for their properties in just a few steps. The tool also provides information on costs and subsidy options.
ESG-compliant own investments
We are setting a good example with our own investments: by 2025, we plan to fully divest from companies in the fossil fuel sector. This will significantly further reduce the carbon footprint of our portfolio.
Social engagement
We also strive to be an exemplary corporate citizen: our employees actively support public-benefit and charitable projects in Liechtenstein, Switzerland, and Austria. For example, we regularly organise social volunteering days and participate in the Operation Christmas Child campaign. Last year, we collected 156 shoeboxes across the company containing gifts and urgently needed items for children in Eastern Europe.
Our Future Foundation should not be left off this list. Although the foundation was established already in 2011 – long before our current strategy period – it remains a vital building block for achieving our sustainability goals. Through the foundation, we support organisations and public-benefit projects that improve living and working conditions and strengthen personal responsibility. We also promote projects dedicated to environmental protection. Since its establishment, the foundation has distributed more than CHF 1.8 million, making a significant contribution to the quality of life in the market areas of LLB and LLB Schweiz.
A look to the future
A lot has happened in the past two and a half years – yet we have no time to rest. New regulatory challenges require cross-departmental efforts, and we are working diligently on our CO2 reduction pathways, which will guide us to climate neutrality by 2040. However, the experience we have gained since the start of the strategy period gives us reason for optimism: together, we will also successfully navigate the rest of the journey!