We celebrated the World Environment Day: NLB d.d. officially a member of the UN-Convened Net-Zero Banking Alliance

June 6, 2022

As announced during the NLB Investor Day in mid-May and in line with NLB’s commitment to a climate-positive future and net-zero ambition, NLB d.d. officially joined the Net-Zero Banking Alliance (NZBA), an industry-led, UN-convened alliance of banks worldwide, committed to aligning their lending and investment portfolios with net-zero emissions by 2050 or sooner, as set by the most ambitious targets of the Paris Climate Agreement.

Representing almost a quarter of global banking assets, with over 100 members from 41 countries and $68 trillion EUR in total assets, [check here for the latest stats] the Alliance is a critical step in the mobilisation of the financial sector for climate. It recognises the vital role of banks in supporting the global transition of the real economy to net-zero emissions, encompassing both operational and attributable emissions, including Scope 3 emissions.

Alliance members commit to:

  • Set scenario-based interim targets for 2030 or sooner for priority sectors
  • Prioritise areas of most significant impact, i.e. the most greenhouse gas-intensive and emitting sectors
  • Annually publish emissions and emissions intensity
  • Take into account the best available scientific knowledge
  • Set first target(s) within 18 months of signing and report annually thereafter
  • Disclose progress against a board-level reviewed transition strategy

“Sustainability of businesses we support with our services and solutions, as well as the sustainability of our own activities is the commitment we in the NLB Group hold especially close to our hearts,” emphasizes NLB’s CEO Blaž Brodnjak. “In 2022, we intend to make this even more tangible throughout the Group. For example, to support the shift towards a low-carbon economy and finance the transition, we plan to expand the product portfolio with loans dedicated to supporting energy efficiency and renewable energy production. We believe that the bank should be the driving force by stimulating and at the same time also defining investment decisions in a way that they will guide investors into projects that are financially feasible and viable but at the same time do address the green transition. NLB is definitely going to be one of the main protagonists of this transition in our home region – South-eastern Europe. We also plan to make required steps in the direction of obtaining our first ESG rating.  We know the way:  we must be the change – every day in every single action, when we do business or in our personal lives.”

NLB is proud to join leading peers from the banking industry in collective efforts to reach net-zero emissions by 2050 and is looking forward to engage with clients to support them in their transition plans and accelerate action on climate. We also proudly echoed UN Environmental day’s motto: “We have only one Earth. Let’s take care of it.« 

   

About the Alliance

The industry-led, UN-convened Net-Zero Banking Alliance brings together over 50 banks representing almost a quarter of global banking assets, which are committed to aligning their lending and investment portfolios with net-zero emissions by 2050. Combining near-term action with accountability, this ambitious commitment sees banks setting an intermediate target for 2030 or sooner, using robust, science-based guidelines. The Alliance will reinforce, accelerate and support the implementation of decarbonisation strategies, providing an internationally coherent framework and guidelines in which to operate, supported by peer-learning from pioneering banks. It recognises the vital role of banks in supporting the global transition of the real economy to net-zero emissions.

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