Last checked at 27 Dec 2023 16:30
Date: 27 Dec, 2023
NLB Group publishes first net zero portfolio targets
Pursuant to the Rules of the Ljubljana Stock Exchange and Article158 of the Market in Financial Instruments Act, relating to the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana announces:
As a member of UNEP FI Net Zero Banking Alliance (NZBA), the NLB Group is pleased to share with you an important development in our commitment to sustainability. We have recently released our first NLB Group Net Zero disclosure report, which provides a comprehensive overview of our efforts and progress towards transitioning the operational and attributable GHG emissions from lending and investment portfolios to align with pathways that are consistent with achieving net zero by 2050 or sooner.
At NLB, we recognize the importance of setting ambitious targets and taking bold actions to combat climate change. Our Net Zero strategy focuses on key sectors such as power generation, iron and steel, residential mortgages, and commercial real estate, where we have significant emissions, exposure and NZBA-aligned targets. We are committed to reviewing and updating our targets at least every five years to ensure they align with international agreements and national goals. Our progress in achieving these targets will be communicated through annual progress reports in our sustainability reports.
Ivan Tomi?, Head of Group Strategy, Business Development and Sustainability: "We are also actively engaging with our clients to encourage them to develop their own net zero strategies. We understand that collaboration and collective action are crucial in addressing climate change, and we are dedicated to supporting our clients in their efforts to transition to a sustainable future. While we recognize the challenges in certain sectors, we are committed to addressing these areas in future reporting updates. We are actively working to improve data collection and develop comprehensive decarbonization methodologies in these sectors. We are committed to be a major catalyst of change and transition in our markets. Therefore we have dedicated EUR 1.9 billion until 2030 in Retail and Corporate banking financing."
We invite you to read our Net-Zero disclosure report for more details on our sustainability initiatives and targets, available here.
More information:
Since the NZBA was launched in April 2021, numerous banks from all regions have committed to achieving net-zero financed emissions by 2050. While the Alliance is UN-convened, this is a bank-led initiative with member banks making individual voluntary net-zero commitments. Alliance member banks have committed to individually setting initial emission reduction targets covering certain carbon-intensive sectors within 18 months of joining. Target setting requires a cross-functional collaboration within the bank to set credible and actionable targets, which can support the internal mainstreaming of net-zero transition planning. In addition, the increasing number of banks announcing their targets across all regions sends an important signal to the real economy.
Investor Relations
NLB d.d., Ljubljana