With effect from 2022, the LLB Group established a new governance structure to ensure that all hierarchical levels pay attention to sustainability concerns, including climate management.
This enables both decision-makers and all other employees to take climate-relevant risks and opportunities into account and to include them in strategic and operational considerations.
Sustainability and climate governance structure
The Sustainability Council assumes responsibility for decision-making, governance and monitoring
The core body of this new structure is the Sustainability Council, which comprises five members and has the task of controlling implementation of the LLB sustainability strategy, making any adjustments as and when necessary. It meets every three months and informs Group Executive Management about the status of sustainability management every six months.
Eleven work streams help us achieve our goals
At an operational level, no fewer than eleven work streams have been created, and they bear primary responsibility for implementing the sustainability and climate strategy, reporting to the Sustainability Council every two months. The individual work streams focus on either products (e.g. loans) or issues (e.g. social impact).
The Board of Directors maintains a bird’s-eye view
The LLB Group’s highest governing body is the Board of Directors, which addresses climate-relevant topics at least every six months. It is supported by a number of committees:
- Group Risk Committee – briefs the Board of Directors specifically on climate crisis risks
- Group Nomination and Compensation Committee – deals with the issue of environmentally friendly incentive systems, among other issues
- Strategy Committee – provides advice regarding adjustments to the current climate strategy
- Group Audit Committee – monitors implementation of the climate strategy and supervises governance compliance
We need to make use of our workforce’s entire talent pool in order to successfully crack the climate crisis, which is why the LLB Group has created Green Teams, in which employees can help shape the company’s sustainable future on a voluntary basis.