The ESG Phenomenon: Liechtensteinische Landesbank
The latest developments in the ESG space.
Liechtensteinische Landesbank has published its Task Force on Climate-related Financial Disclosures” (TCFD) report for the first time. The report sets out the ways in which the firm is trying to advance the “green” agenda – an example of how private banks are burnishing their ESG credentials.
The bank’s report said it is confirming its commitment to reduce its emission of greenhouse gases to net zero by 2040 – both in banking operations and with respect to banking products and its own investments.
“Since 2021, we have been managing our banking operations with net-zero emissions by collaborating with the Swiss climate foundation myClimate to invest in environmental projects in the region and around the world that aim to reduce CO2,” group CEO Gabriel Brenna said.
As a specific example of measures it has taken, LLB said that in cooperation with the Swiss climate foundation “myclimate,” it supports various CO2-reducing projects in the region and around the world. Among these is a reforestation initiative in western Uganda and a project for fertile soil as a CO2 sink in the Lake Constance region.