REG - Nova Ljubljanska - NLB Group publ. first net zero portfolio targets

Nova Ljubljanska Banka dd LjubljanaAnnouncement

27/12/2023 16:30

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RNS Number : 9696X  Nova Ljubljanska Banka d.d.  27 December 2023

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 Tomić, 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
(https://www.nlb.si/nlb/nlb-portal/eng/sustainability/nlb-group-netzero-disclosure.pdf)
.

 

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

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