Sustainable by conviction: BayernLB publishes new sustainability strategy
BayernLB

14-Sep-2021

Sustainable by conviction: BayernLB publishes new sustainability strategy

Munich – BayernLB has given itself a new sustainability strategy. As such, the Bank is forging ahead with its stricter focus on sustainable topics, which is a core feature of its extensive transformation programme. This applies to its own operations, which have been climate neutral at all its German sites since 2015, and to BayernLB’s customer business.

“We do not see sustainability just as an irreversible trend but as the only right path for our society. With our sustainability strategy, we are continually building on one of BayernLB’s key strengths,” commented Stephan Win-kelmeier, CEO of BayernLB.

BayernLB aims to have a climate-neutral portfolio before 2050. To this end, the Bank has joined the Partnership for Carbon Accounting Financials (PCAF). The PCAF brings a standardised method to the table which BayernLB and DKB will use to calculate the emissions in their lending portfolios. Measuring greenhouse gas emissions is essential for managing the risk and sustainability aspects of the portfolio and gradually decarbonising it.

In addition, BayernLB has set up an ESG Assessment system. This enables the advanced identification of sustainability risks and positive impact of financing on the achievement of climate and sustainability goals in the portfolio. It also takes into account the requirements of the EU Taxonomy Regulation. BayernLB expects the ESG Assessment to provide information for portfolio management and/or development and for the dynamic development of sustainable capital market business. This squares with the climate change mitigation goals of the German federal government, the EU and the goals of the Free State of Bavaria, and is a clear statement that BayernLB stands staunchly behind the Paris Agreement.

BayernLB serves its customers as a strategic partner for sustainable finance.The Bank’s main focus is on helping its customers finance the transformation of their business models, processes and products as part of decarbonisation and on refining its range of products and services – including green & social bonds, corporate Schuldschein note loans and sustainable funds.

BayernLB itself established operational environmental management more than 20 years ago. Since 1999 it has been verified by the stringent European EMAS regulation and since 2011 it has been certified in accordance with international standard ISO 14001. Work at BayernLB’s Munich premises has therefore been climate-neutral since 2008 and at all other premises in Germany since 2015. Additional measures to improve the Bank’s carbon foot-print will be implemented by 2023. They include, for example, incorporating the foreign branches into the commitment to environmental protection and implementing measures in relation to sustainable workspaces and sustainable mobility.

BayernLB promotes the development of a management and collaboration culture based on diversity, equal opportunity and inclusion. The Board of Management and the Supervisory Board committees therefore also consider equality rights and diversity key factors for BayernLB’s future success. From 2022, the forward-looking topic of sustainability will be given even greater priority in the further education programme.