We will align LHV’s financing and investment activity with the Paris Climate Agreement with the goal to limit the global temperature increase.
The UN Principles for Responsible Banking give banks a framework for sustainable operation and sets out guidelines for promoting life in society. We joined with the initiative to show our commitment to the UN Sustainable Development Goals and align our activities with the goals of the Paris Climate Agreement. We take part in international cooperation in the financial sector and sharing best practices.
What have we already accomplished?
In early 2020, we joined the UNEP FI initiative and signed the principles for responsible banking. We have mapped the impact of our portfolio by business lines nad laid out an action plan for 2021 and 2022. We have documented and stated our ambitions in LHV Group’s ESG policy.
In August 2021, we disclosed our first Principles for Responsible Banking report.
What are we planning for future?
The next big step is to conduct an impact analysis to identify what negatives and positive impacts our business activity has. With our participation, UNEP FI has developed tools for this purpose. After the impact analysis is finished, we can set clearly defined goals and draw up an action plan. We’ll share the results regularly with the public. We will then develop LHV’s sustainability principles.
What is the final goal of the project?
The final goal is to align all our activities with the goal of the Paris Climate Agreement of limiting the global rise in average temperature to less than 1.5°C compared to the pre-Industrial Revolution level. Also, to make a substantial contribution to supporting the UNSustainable Development Goals. We want to operate as role models for environmentally sound, responsible business activity at the strategic and operational level (in terms of products and services). We aim to be good stewards of the environment for Estonia’s future generations.