Swiss stock exchange includes LLB in sustainability indices
Liechtensteinische Landesbank (LLB) and the LLB Group subsidiary Bank Linth meet the criteria for inclusion on the sustainability indices of the Swiss SIX stock exchange. Shares in both banks have now been listed on the SPI ESG, SPI ESG Weighted and SBI ESG indices.
The LLB Group pursues a sustainable approach in connection with its product portfolio and investment strategy, the banking group states in a press release. Only last year, the LLB Group signed up to the UN Principles for Responsible Investment. The Swiss SIX stock exchange has now certified that LLB and Bank Linth, a subsidiary of the banking group, both meet the criteria for inclusion on the SIX sustainability indices. Shares in both banks have now been listed on the SPI ESG, SPI ESG Weighted and SBI ESG indices.
For a company to be included on the ESG indices operated by SIX, it must receive a grade of at least C+ from the independent Swiss agency Inrate for its activities linked to ecological, social and governance (ESG) criteria, the press release explains further. Moreover, a maximum of 5 percent of revenue may be generated in controversial sectors such as the arms industry, genetic engineering, nuclear energy, coal and oil sand in addition to alcohol, tobacco, gambling and adult entertainment.
“With the inclusion of our two listed banks in the ESG share indices and LLB securities in the bond index, SIX has confirmed the positioning of the LLB Group as a sustainable firm”, comments Urs Müller, Interim CEO of the LLB Group, in the press release. He adds: “At the same time, we are tapping into a growing circle of institutional and private investors that focus on ESG criteria for their investments”.