Industry initiatives and corporate citizenship

Information unaudited Information ungeprüft Industry initiatives and corporate citizenship

As part of various industry initiatives, the LLB Group campaigns for a sustainable banking sector and supports various ecological, social and cultural projects, thus making an active contribution to the prosperity of the population and to the sustainable development of Liechtenstein.

Participation in industry initiatives

The LLB Group derives from its corporate values and its guiding principles a strong commitment to responsible banking. By participating in various industry initiatives, we bring our ideals to the financial industry and, in doing so, also help advance our goals. This applies not least to the area of sustainability.

As an active member of the Liechtenstein Bankers Association (LBA) and Liechtenstein Chamber of Commerce and Industry (LCCI), we are committed to making the country fit for the future. Within the LBA, we have also long campaigned for sustainable finance to be made an important pillar of the banking centre’s strategy. This is underpinned by an understanding that the financial industry and the whole economy are key to the sustainability transformation.

We reaffirm our commitment to sustainability and climate protection through membership in the most important international climate initiatives:

• The United Nations Net-Zero Banking Alliance (NZBA): we have been a member of the NZBA since August 2021. The alliance is geared towards financing and driving forward the economic transformation in order to reach net zero by 2050 at the latest.
• Race to Zero: through its membership of the NZBA, the LLB Group is also part of the Race to Zero campaign – an initiative launched by the United Nations. The campaign brings together state and non-state actors from more than 90 nations. They recognise the importance and the urgency of working towards a decarbonised economy in order to create a healthier, safer, cleaner and more resilient world for future generations.
• Principles for Responsible Banking (PRB): in 2021, we also became a signatory to the United Nations’ PRB. The PRB is an initiative for responsible banking and provides a single framework for a sustainable banking industry. It was developed as part of an innovative partnership between banks around the world and the Finance Initiative of the United Nations Environment Programme.
• The Climate Pledge: the Climate Pledge is a voluntary commitment to implement the Paris climate agreement ten years earlier and thus be CO₂-neutral by 2040. The LLB Group has been an official partner since March 2022.
• Principles for Responsible Investment (PRI): the LLB Group has been a member of the Principles for Responsible Investment Finance Initiative since 2020. As such, it supports the responsible management of securities.
• Climate foundations: we are a partner of the independent non-profit LIFE Climate Foundation Liechtenstein (since 2009) and the Swiss Climate Foundation (since 2012). We thus belong to a group of partner firms that pool their resources to provide uncomplicated, efficient support to small and medium-sized enterprises (SMEs) in Switzerland and Liechtenstein that contribute to climate protection. We pass any refunds of the CO₂ levy that we receive from the Principality of Liechtenstein on to the climate foundation and thus promote climate-friendly products and technological developments as well as energy-saving projects.
• UN Global Compact: As a United Nations initiative, the UN Global Compact pursues the vision of an inclusive, sustainable global economy that benefits all people, communities and markets. To make this happen, the UN Global Compact supports companies to do business responsibly by aligning with ten universal principles on human rights, labour standards, environmental protection and anti-corruption as well as by incorporating the Sustainable Development Goals (SDGs).
• Partnership for Carbon Accounting Financials (PCAF): PCAF is a global, industry-led initiative to assess and disclose the greenhouse gas emissions financed by loans and investments. Following PCAF recommendations on how to calculate CO₂ ensures that the CO₂ data that the LLB Group discloses are meaningful and comparable with other institutions.

Sponsoring

When it comes to the positioning and visibility of the LLB Group, the area of sponsoring and events plays an important role. The aim of our sponsoring strategy is to gain stakeholders as brand ambassadors. We observe thereby the following principles:

• We want our four values (integrity, respectfulness, excellence and passion) to be experienced on an emotional and professional level through our activities.
• We strengthen and enable platforms and partnerships which fit us best.
• We explain clearly what the LLB Group stands for using topic pyramids.
• We coordinate partnerships and our own events Group-wide using a management tool.

The focus of our sponsoring commitments is on the thematic areas of sports, culture and competence. In these areas, we support various projects and organisations.

As part of a long-standing partnership, we continue to provide backing to the junior talent of FC Vaduz. As a partner to the Liechtenstein Olympic Committee, we are the main sponsor of the “LLB Nacht des Sports” (Night of Sports), at which the “LLB Sport Award” is also presented. And we are a presenting partner at the “Olympic Day”, a sporting event held annually for all fourth- and fifth-grade school classes in Liechtenstein. This reporting year, we could go ahead again as planned with the Business Day for Women in Vaduz, where we explored the topics of diversity and inclusion. The “LLB Business Day Award” was presented at the event, which was devoted to women who have returned to the world of work. This year’s winner was Ursula Wegstein, who won over the panel with her impressive CV.

The “Finanzcoach” (Finance Coach) course for children and young people was launched at the Eschen branch in summer 2023. The initiative is designed to teach them how to handle money and show them how finance and economics relate to our everyday lives. The course modules have been prepared to suit the respective age groups together with the Liechtenstein Bankers Association and are delivered by LLB employees in their role as “Finance Coaches”.

LLB Schweiz also supports a range of organisations, with a similar focus on the three thematic areas of sports, culture and competence. It has sponsoring agreements with the Kulturtreff Rotfarb (a cultural centre) in Uznach, Knie’s Kinderzoo in Rapperswil-Jona, the Flumserberg mountain lifts and the Unihockey Club HC Rychenberg in Winterthur.

LLB Österreich makes donations to numerous organisations engaged in the areas of art, culture and community service. It is also a member of various friends or supporters associations, including those of the Burgtheater, the Leopold Museum and the Albertina. In 2023, the bank once again supported and targeted donations at local Austrian institutions (including the Vienna Boys’ Choir) and traditional companies.

The charitable nature of sponsoring undertaken by the LLB Group is placed to the fore. The projects and institutions supported are independent in terms of content and organisation. In 2023, LLB made awards worth CHF 342ʼ000.– (2022: CHF 146ʼ500.–) in Liechtenstein and LLB Schweiz awards worth around CHF 350ʼ000.– (2022: CHF 330ʼ000.–). LLB Österreich spent around EUR 90ʼ000.– (2022: EUR 218ʼ000.–) on donations, membership fees and sponsorship in Austria.

Through our many commitments, we contribute significantly to the implementation of the sustainability strategy of the LLB Group.

The non-profit Future Foundation

The “Zukunftsstiftung der Liechtensteinischen Landesbank AG” (the Future Foundation of Liechtensteinische Landesbank AG), which was founded in 2011 as part of our 150^th anniversary celebrations, supports commitment to social and ecological sustainability in everyday life. We support organisations and non-profit projects that improve living and working conditions and promote self-responsibility. We also promote projects dedicated to environmental protection. We also focus on innovations in the areas of knowledge transfer as well as the integration and implementation of social entrepreneurship.

Trust, responsibility and reliability are important to the LLB Group. We are closely connected to the people as well as the economy of Liechtenstein and our other home markets. In addition to project-specific donations amounting to CHF 71ʼ000.00, the Future Foundation contributed to society by donating a total of CHF 153ʼ000.00 to 28 social organisations in 2023. The Future Foundation is a member of the network of the “Vereinigung liechtensteinischer gemeinnütziger Stiftungen” (Association of Liechtenstein Non-Profit Foundations), which aims to promote the idea of entrepreneurial philanthropy.

Projects in 2023

Through its annual donations to a set circle of social institutions in Liechtenstein, the Future Foundation helps to maintain healthy social structures in the country. Providing additional funding to individual projects helps innovative ideas in the area of social and ecological development in the market regions covered by LLB as well as LLB Schweiz (Liechtenstein and eastern Switzerland) to be realised in practice.

The Future Foundation has distributed over CHF 1.8 million in the last thirteen years. Projects that were supported or considered for a donation for the first time in 2023 included:

• pepperMINT: The MINT Initiative Liechtenstein is a social foundation that offers children and young people the chance to experience and learn mathematics, computer science, natural science and technology in a fun way.
• Stiftung Lebenswertes Liechtenstein: The foundation’s aim is to promote the long-term healthy social, ecological and economic development of the Principality of Liechtenstein, creating a positive national and international appeal and impact.
• Zukunft.li Foundation: The liberal think tank deals with economic and socio-political topics relevant to the sustainable development of Liechtenstein and to securing its future.
• Makerspace Liechtenstein e.V.: The association received support with its Precious Plastic Program. The manufacture of new products in an environmentally friendly way is facilitated through specially developed machinery and tools, which shred and melt recycled plastic and press it into injection moulds.
• Familienzentrum Association, Balzers: The new association, which is responsible for the development and management of the families centre in Balzers, received funding for the projectʼs initial costs.
• SOS-Kinderdorf Liechtenstein e.V.: SOS Children’s Villages is a non-profit charitable foundation. Its primary objective is to protect children in need. We support the “Frühe Hilfen” (early intervention) programme, which helps families in difficult situations who need funding for aids, therapy and / or care. The association will also be considered for our donations in the future.
• Verein für Menschenrechte in Liechtenstein VMR: The mission of the association, which was founded in December 2016, is to protect and promote human rights in Liechtenstein.
• Ideenkanal: The eponymous, non-profit Ideenkanal Foundation based in Vaduz provides the organisational framework for the ideas channel. The purpose of this foundation is to promote outcome-oriented entrepreneurship in the four German-speaking countries.
• Verein für Menschen mit Demenz in Liechtenstein: The association has been the contact partner for people with dementia in Liechtenstein since 2016. Its tasks include public relations, working with those affected and their families as well as training people, who look after and care for sufferers in various contexts. The association also advocates strengthening self-help and sufficient, accessible respite services.