Nova Ljubljanska Banka d.d. NLB Group Significantly Improves its ESG Rating

RNS Number : 6310R

Nova Ljubljanska Banka d.d.

30 December 2024

 

NLB Group Significantly Improves its ESG Risk Rating

 

Pursuant to the Rules of the Ljubljana Stock Exchange and Article158 of the Market in Financial Instruments Act, relating to the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana announces:

 

A year that is running out, has been an amazing year indeed. A year in which NLB Group had no shortage of opportunities to show its knowledge and expertise; to prove itself with innovative, responsible operations, and, last but not least, with actions that created better footprints. We are proud that our efforts and our progress in creating better footprints have been recognized once again and are also reflected in the improved ESG Risk rating by one of the leading independent ESG research, ratings, and data firms in the world - Morningstar Sustainalytics.

 

NLB's new, improved ESG rating of 10.5 reflecting a low risk of material financial impacts from ESG factors places NLB in the top 5^th percentile of all banks assessed by the Morningstar Sustainalytics. It represents more than 34% improvement from the rating NLB received a year ago, both due to NLB's improved performance by 26%, and also due to a change in the Sustainalytics' rating methodology, which contributed 8% to improved rating. Morningstar Sustainalytics namely recently updated its Corporate Governance baseline, creating two standalone Material ESG Issues for Corporate Governance and Stakeholder Governance. Additionally, the content of the existing Data Privacy and Cybersecurity Material ESG Issues has been expanded.

 

We improved our sustainable operations the most in Data Privacy, Cybersecurity, Responsible Marketing Policy, and Responsible Asset Management. You may find the detailed report here.  

 

Improved rating for the third time in a row

 

ESG risk rating, similarly to credit rating, is a measurement of evaluation of a company, fund, or security's performance, except that it focuses on fulfilment of environmental (E), social (S) and governance (G) standards, instead of credit ability.

 

This is the third ESG risk rating from Sustainalytics NLB has received in so many years, with each marking an improvement. In 2022, NLB received a risk rating of 17.7, being at the same time the first bank with headquarters and an exclusive strategic interest in Southeast Europe which has obtained this rating, as well as the first among the companies, listed on the Ljubljana Stock Exchange; while a year ago it received a rating of 16.0.

 

Copyright ©2024 Morningstar Sustainalytics. All rights reserved.

 

The information, data, analyses, and opinions contained herein: (1) includes the proprietary information of Sustainalytics and/or its content providers; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice nor an endorsement of any product, project, investment strategy or consideration of any particular environmental, social or governance related issues as part of any investment strategy; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. The ESG-related information, methodologies, tool,

ratings, data, and opinions contained or reflected herein are not directed to or intended for use or distribution to India-based clients or users and their distribution to Indian resident individuals or entities is not permitted. Neither Morningstar Inc., Sustainalytics, nor their content providers accept any liability for the use of the information, for actions of third parties in respect to the information, nor are responsible for any trading decisions, damages or other losses related to the information or its use. The use of the data is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.

 

Investor Relations

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

MSCFDEFESELSEIE