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
5th 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.
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