ESG-Strategy 2025⁺
Together, we at LBBW are driving sustainable transformation and shaping the future – because change starts with us.
The excerpt from the ESG-Strategy 2025⁺
The ESG-Strategy 2025⁺ supports the transformation towards a sustainable economy and society. It sets out the strategic targets for the upcoming years along the dimensions of environment, social and governance.
Why does ESG gain importance?
LBBW's corporate environment is characterized by profound changes. Various influencing factors such as climate change, the increasing destruction of ecosystems and biodiversity, rising social inequality as well as an increasing number of new regulatory initiatives are leading to significant changes in the financial sector. According to the Global Risks Report 2024, the biggest risks over the next ten years will be characterized by sustainability issues. Extreme weather events, critical changes to Earth systems and biodiversity loss are at the top of the list.
Source: The Global Risks Report 2024 19th Edition by the World Economic Forum
Briefly explained: ESG
ESG comprises the sustainability-related areas of responsibility of organizations, namely, environmental, social and governance. As part of ESG, corporate actions and efforts are considered in the respective areas of responsibility.
This includes ecological issues such as climate change and biodiversity. LBBW's corporate actions in this area comprise, among others, reducing greenhouse gas emissions in line with the Paris Climate Agreement and the responsible use of resources.
In this field, social topics like dealing with employees, customers and society are considered. LBBW’s corporate actions include dealing with issues such as diversity and equal opportunities within the bank or commitment to society.
The area of governance encompasses topics relating to the management and regulatory system of an organization and thus represents the legal and factual regulatory framework. LBBW's corporate actions in this area comprise, for instance, the promotion of values and standards that improve corporate management and corporate culture.
Strategic objectives
We are convinced that sustainable action and economic success are not mutually exclusive.
Sustainability has been firmly anchored in our business strategy for many years. The ESG-Strategy 2025⁺ supports the implementation of our business strategy and sets the course for a new era.
Transformation, responsibility and stability
This ESG target makes an important contribution to the overarching long-term Group objectives of growth and relevance. In addition to support our customers as part of the sustainable transformation, we also take responsibility for our environment and society. Furthermore, we focus on the stability of LBBW and its customers through targeted ESG risk management.
Strategic focus topics
Six ESG focus topics are derived from the strategic objectives transformation, responsibility and stability, namely, climate/decarbonization, nature/resources, customers, employees, society and corporate governance. Targets and measures were adopted for each focus topic as part of the ESG-Strategy 2025⁺.
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