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Landesbank Baden-Württemberg (LBBW)

PRI reporting framework 2020

You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LBBW is a signatory of the United Nations’ Principles for Responsible Investment (UN PRI). Under these principles, we voluntarily undertake to address environmental, social, and corporate governance (ESG) issues in our investment activities. In 2017, LBBW Asset Management Investmentgesellschaft mbH also signed the PRI for the Investment Manager category. Since june 2018 the BW-Equity is UN PRI Sinatory.

 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LBBW has adhered to the Green Bond Principles since 2014, thus contributing to building the market for sustainable issues. The International Capital Market Association’s (ICMA) Green Bond Principles define voluntary guidelines for the issuing process

to promote standardization and transparency, and reinforce integrity in market development. To this end, the Green Bond Principles provide recommendations, including for the use of the issue proceeds.

 

 

          LBBW Asset Management is a member of Forum Nachhaltige Geldanlagen, the German SIF
        

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LBBW Asset Management is also a member of the Forum Nachhaltige Geldanlagen (German Sustainable Investment Forum), an association bringing together over 170 companies and 30 individual members promoting sustainable investments

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LBBW is an active member of the United Nations Environment Programme Finance Initiative (UNEP FI), a partnership between

the UN's Environment Programme and over 200 companies worldwide. The goal of this partnership is to support financial

institutions in integrating sustainability issues into their companies at all levels. In addition to its global activities, UNEP FI along

with Verein für Umweltmanagement und Nachhaltigkeit in Finanzinstituten e.V. (VfU) initiated an annual round table as a forum for dialog with financial services providers in German-speaking countries. The theme of the round table in November 2017 was “Sustainable Finance – für eine zukunftsfähige Wirtschaft und Gesellschaft” (“Sustainable Finance – Toward a Future-proof

Economy and Society”). LBBW led a workshop on systematically applying ESG (environmental, social, and corporate governance) criteria in lending (additional information at www.vfu.de).

The LBBW is Founding Signatory of the Principles for Responsible Banking (PRB)  (August 2019) and supports the 6 principles.

https://www.lbbw.de/articlepage/press-release/lbbw-signs-the-united-nations-principles-for-responsible-banking_9zk9qbkve_e.html

 

 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

 

UN Global Compact

The United Nations Global Compact is the world’s largest responsible corporate governance initiative. This open forum aims to initiate change processes for the development of a sustainable global economy for the benefit of all people, communities, and markets, and offer a platform for sharing ideas (globalcompact.de,unglobalcompact.org).

In December 2017, we committed to promoting the ten principles below in our sphere of influence as a signatory to the Compact. That means that we integrate the Global Compact and its principles in our corporate strategy, corporate culture, and everyday business, and participate in partnerships that promote the general goals of the United Nations, particularly the Sustainable Development Goals.

 

          VfU (Verein für Umweltmanagement und Nachhaltigkeit in Finanzinstuten e.V. )
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

As a member of the VfU, we play an active role in the workshops and forums. In 2019, we participated in events including the following e.g.:

• VfU Symposium "Carbon-Risk-Management&Financial Emissions (CARIMA)

* VfU workshpo "Principles for Responsible Banking"

* VfU "Regulatory&Public Affairs"

*VfU Round Table "Sustainable Finance and Regulatory". Innovation.Transformation.

 

 

 

          Climate Bond Initiative
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          The LBBW Immobilien Development GmBH is a member of the German Sustainable Building Council (DGNB).
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          The LBBW is Founding Signatory of the Principles for Responsible Banking UNEP FI (PRB)  (August 2019).
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]


SG 09.2. Assets managed by PRI signatories (Not Applicable)


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          Several employees of LBBW regulary spoke at events and conferences
        

Frequency of contribution

Description

          LBBW Research Department published sevearl  studies on ESG topics in 2019
        

Frequency of contribution

Description

          Several articles were published with a special focus on our green and social bond activities and on green finance in general.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

 

We integrate ESG-related topics into analytical and desision-making processes in investment banking. We apply benchmarks such as the Unites Principles for responsible Investment ( PRI). In our business with customers we offer sustainable investment products for all costumer groups and in all asset classes, We activly promote sustainable investments and  projects in renewable energies and energy efficiency: For our retail customers we offer special loans to make their homes energy efficient. Currently LBBW offers Green Bonds, Green SSD,  Social Bonds, a wide range of sustainable retail investment fonds/environmental funds e.g. LBBW Global Warming climate change fund. In 2019 we have extended this  product offer.  Also several specialized investment funds for institutional clients.

LBBW Green Bond:

With the further development of our Greenbond activities, we are making an active contribution to the market development of Sustainable Finance solutions. Our Green Bonds contribute to the achievement of the "Goals for Sustainable Development" of the United Nations.

For the selection energy-efficient buildings for our real estate portfolios, we have developed an approach to measure and compare the carbon intensity of commercial real estate for the launch of our first Green Bond with the support of an external real estate expert. The carbon benchmark methodology can also be used by other market participants and policy makers. ( Second opinion by ISS ESG  )

In 2018, the volume of the LBBW Green Bond portfolio rose sharply.  In 2019 several Green Bond issues were issued by LBBW .

https://www.lbbw.de/konzern/disclaimer/disclaimer-green-bonds/lbbw_green_framework_and_portfolio_2018_english_9gpf4ah9e_m.pdf?r=mdqxna

LBBW Social Bond:

In 2019,  we started a social Bond Programm and issued its Inaugural Social Bond in September 2019 and successfully placed its first social bond on the market. The LBBW use the proceeds of the issue to finance projects in the health and social services sector, such as hospitals, university clinics, doctors' practices, nursing homes, and homes for people with disabilities. The funds can also be used for kindergartens, schools, vocational training programmes and local infrastructure projects and services such as public transport or water supply. LBBW's total portfolio of social bonds amounts to over EUR 2.7 billion.

https://www.lbbw.de/articlepage/press-release/lbbw-issues-its-first-own-social-bond_942segk6t_e.html

For further information see https://www.lbbw.de/articlepage/refinancing/socialbond_8r555w2hy_e.html?r=mdg2na

Social Bond Portfolio and framework: https://www.lbbw.de/konzern/disclaimer/disclaimer-social-bonds/20190918_lbbw_social_framework_and_portfolio_2019_english_93qfhkwgc_m.pdf

 

Since August 2019 LBBW is Founding Signatory of the PRB (Principles for Responsible Banking) and supports actively the 6 principles. 

https://www.lbbw.de/articlepage/press-release/lbbw-signs-the-united-nations-principles-for-responsible-banking_9zk9qbkve_e.html

In the reporting year LBBW research analysts regulary published studies on sustainability issues that are of particular interest to our customers and other stakeholder.

In 2019, we held several client events with  sustainability and sustainable investments topics.

In September 2019, we held a  internal employee sustainability fair for over 250 employees on the subject of climate change. Many internal departments with a focus on sustainability were actively involved. Many sustainable project and product ideas have emerged from this event.

We have named an advisor for retail clients in every front office unit of BW-Bank as a multiplier for sustainable investments and provided the requisite further education and training.

We offer training for our sales staff and webinars and road shows for new sustainable products and services

 

 

 


SG 11. Dialogue with public policy makers or standard setters (Private)


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