LGT Climate Ambition 2030 How we're reducing our emissions

We want to make an active contribution to the UN Sustainable Development Goals (SDGs). Among other things, the focus is on combating climate change. To achieve this, net emissions must be reduced to zero in accordance with the Paris Agreement. As a bank, we have the greatest impact on this target through our investments (Scope 3.15), but we are also active in our client advisory services and in our own operations.

90 % reduction in emissions resulting from operations

A responsible approach to nature and the environment is also important in LGT's day-to-day operations. Our operational processes are designed to conserve natural resources as much as possible. By 2030, we are therefore aiming to reduce our emissions (Scope 1 and 2) by 90 % compared with 2019. To achieve this ambitious target, we need to drastically lower our energy consumption and make the switch to renewable energies. What we are striving to achieve, amongst other things, in terms of operations (* per full-time position, baseline year 2019):

-50%
less paper consumption
-90%
CO2 emissions (Scope 1 and 2)
-30%
less energy
100%
Use of renewable energies

Once a year, we take stock. In our annual Sustainability Report and Non-Financial Report, we summarize what we have achieved in terms of sustainability, what goals we have set ourselves, and how we address sustainability as a bank. You will also find concrete figures on our sustainability...

This is how we will achieve the net-zero target

LGT is stepping up its efforts to protect the climate. For our owners, sustainable and long-term oriented action has always been an intrinsic aspect of entrepreneurial activity. We also want to take advantage of the opportunities for our clients and for our company that arise from a consistent focus on sustainability in our business and, above all, in our investments.

Operations Reduce and avoid CO2 emissions

By 2030, we are aiming to significantly reduce our emissions and, with that, to reach an important milestone on the way to our net zero by 2050 target. In terms of our own operations (Scope 1 and 2), we will reduce our emissions by 90 %, compared with 2019, by 2030. To achieve this, we are raising awareness amongst all employees, increasing energy efficiency and switching to renewable energies where possible. We are covering unavoidable emissions in part by purchasing carbon credits, making a positive contribution to the climate in the process.

Balance sheet

With regard to our own investments, we are aiming to achieve net zero by 2050 by achieving a 90 % reduction in CO2 emissions compared with 2022. Following this reduction, the remaining greenhouse gas emissions will be neutralised through permanently effective emission removals. On the way to this target, LGT has set itself an interim target for 2030, which stipulates a clear reduction of 45 % compared with 2022. These targets form the core of our "LGT Climate Ambition" and demonstrate the consistent and long-term approach we are taking to climate protection.

By purchasing high-quality carbon credits, we are also aiming to make a positive climate contribution in some of our own investments from 2030 at the latest.

Client Investments Minimize CO2 emissions

We want to encourage our clients to manage their assets more sustainably. One example how we achieve that is through our LGT Sustainability Rating. Our clients also have access to a wide range of sustainable investments and services, which allow them to reduce the CO2 footprint of their investment portfolio or achieve additional climate contribution through the utilisation of high-quality carbon credits.

Since 2020, we have excluded all companies from our investment universe that produce thermal coal or generate electricity with coal.

Reporting Transparent and open

The path to net zero is not easy. We can only achieve our ambitious goal if we regularly scrutinize our actions and constantly adapt our measures to the latest framework conditions and standards - and if we know where we can make improvements. To this end, we are continuously improving data quality and expanding the database. In addition, we voluntarily apply standards that commit us to transparent reporting:

We develop with reporting standards for recording CO2 emissions from investments. Partnership for Carbon Accounting Financials
Each year, we publish a report in accordance with the standards defined by the Task Force on Climate-Related Financial Disclosures that captures and actively manages climate risks.
We have signed the. Principles for Responsible Banking that ensure our strategy and practices are consistent with the UN’s sustainability goals and the Paris climate targets.

Network Together we are stronger

The financial sector must take a leading role in the fight against climate change. By allocating capital, we and our clients can directly influence who receives more or less capital. That's why we are involved in the following organizations that aim to create a carbon-neutral financial sector:

We have been a member of IIGCC and Climate Action 100+ since 2022
We have been a member of the United Nations Principles for Responsible Banking since 2020
We have been a member of the WEF Alliance of CEO Climate Leaders since 2018
Since 2012, we have been committed to the ten principles of the UN Global Compact

In addition, we regularly monitor whether our suppliers comply with all industry regulations, laws and principles laid down in the LGT Supplier Code of Conduct. We have also implemented a Sustainable Procurement Framework, which we use to screen suppliers for ESG criteria.

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Want to know more about us, our company, our services or a career at LGT? In that case, you will find exciting information on the following pages:

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