Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate governance
• Fair business practices and integrity
• Corruption and bribery
• Climate change
• Equal opportunities and diversity
• Sustainable investment
• Innovation
• Resource efficiency
• Clean energy
• Digitalisation
• Environment
• Human rights
• Employment practices
• Philanthropy
• Volunteering

Environmental Achievements

• 93% of energy consumption came from renewable sources in 2020, resulting in CO2 emissions of 119 tonnes.
• Installation of an additional solar energy system at the Triesen building in 2020.

Social Achievements

• Launched “Investing for Change” initiative in 2020, integrating sustainability into all investment and advisory processes.
• Employee turnover rate for 2020 was 6% (previous year: 7.2%).
• VP Bank Foundation made grants of approximately CHF 200,000 in 2020.

Governance Achievements

• Established a Sustainability Plan 2026.
• Implemented a comprehensive mandatory training program for client advisors and investment experts.
• Became a signatory to the UN Principles for Responsible Investment (PRI) and UN Principles for Responsible Banking (PRB) in early 2021.

Climate Goals & Targets

Environmental Challenges

• The impact of COVID-19 on business activities and stakeholder engagement.
• Challenges in monitoring and tracking progress towards sustainability goals.

Mitigation Strategies

• Developed monitoring tools to track progress.
• Implemented digital solutions in client advisory services to maintain operations during COVID-19 restrictions.
• Developed a comprehensive mandatory training program for employees.

Supply Chain Management

Responsible Procurement

• All suppliers must comply with relevant regulations and international standards; preference given to environmentally friendly goods or those supplied by environmentally certified manufacturers.

Climate-Related Risks & Opportunities

Opportunities

• Sustainable investments

Reporting Standards

Frameworks Used: GRI, SASB

UN Sustainable Development Goals

• 1
• 5
• 7
• 8
• 10
• 12
• 13
• 14
• 15
• 16
• 17

VP Bank strives to contribute to the achievement of the SDGs as defined by the United Nations (UN) and to the Paris Agreement.

Sustainable Products & Innovation

• Risk Optimised ESG Equity funds
• Green City Basket

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainable Investing
• Social Responsibility
• Governance

Environmental Achievements

• Most of the energy used in our offices is from renewable sources. Solar panels on the roofs of our offices in Liechtenstein have been providing clean energy for 25 years. We also use LED and motion-detection lighting.
• Reduced paper usage through digitalization
• Partnership with Drink & Donate to reduce plastic bottle usage and support access to safe drinking water.

Social Achievements

• Commitment to ensuring diversity at all corporate levels and offers all employees equal employment and promotion opportunities.
• Developed a People Strategy with four central pillars: Excite Talents, Grow For Future, Love To Empower, Connect to Collaborate.
• Employees are entitled to take one working day per year to volunteer.

Governance Achievements

• Code of Conduct and the Bank’s values and management principles underpin our binding commitment to ethically correct management.
• Mandatory training on Code of Conduct, data protection, IT security, financial crime, and market abuse.
• Comprehensive rules and processes to prevent conflicts of interest.
• Active measures to combat bribery and corruption.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17

VP Bank supports the UN Sustainable Development Goals.

Sustainable Products & Innovation

• Sustainable investment solutions

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate change
• Corporate governance
• Fair business practices and integrity
• Equal opportunities and diversity
• Sustainable investment
• Resource efficiency
• Digitalisation
• Innovation
• Human rights
• Philanthropy
• Volunteering

Environmental Achievements

• Increased the share of renewable energy in the Group’s total energy consumption to 94.1%
• Transitioned from physical brochures to digital formats to minimize resource consumption
• Initiated a feasibility assessment to examine the use of renewable energies at the BVI location

Social Achievements

• Launched VP Bank Nova Start and VP Bank Nova Next, comprehensive banking packages for teenagers and young adults
• Conducted a Group-wide gender pay gap analysis and received the Fair-ON-Pay certificate
• Participated in the UN Global Compact’s Target Gender Equality programme
• Signed the Luxembourg Women in Finance Charter and joined Advance in Switzerland

Governance Achievements

• Created a new board mandate for a Sustainability Officer
• Established an “ESG Committee Charter” at VP Fund Solutions to coordinate sustainability-related measures
• Implemented the “Responsible Investment Policy”, integrating sustainability criteria into all investment strategies

Climate Goals & Targets

Environmental Challenges

• Balancing environmental, social, and economic aspects of sustainability
• Increasing polarization and emotional debates surrounding ESG
• Data limitations in identifying and documenting all sustainable activities under the EU taxonomy

Mitigation Strategies

• Developing a rational understanding and firm standpoint on sustainability issues
• Using the formula: Sustainable investing = ESG + impact
• Conducting double materiality assessments
• Continuous work to improve and expand the integration of climate risk management into business processes
• Improving data coverage and quality for EU taxonomy reporting

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• All suppliers must comply with relevant regulations and international standards; a significant portion of procurement consists of locally sourced services

Climate-Related Risks & Opportunities

Physical Risks

• Impairment of financial assets and loan collateral
• Impairment of banking operations
• Disruption in banking operations due to extreme weather events

Transition Risks

• Impairment of financial assets and loan collateral
• Increased operating costs due to CO2 taxes
• Changes in laws and regulations, technological innovation, changing market environment, and reputational risks

Opportunities

• Opportunities for new products and investment opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: Fair-ON-Pay

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 5
• Goal 7
• Goal 8
• Goal 10
• Goal 12
• Goal 13
• Goal 16
• Goal 17

Various initiatives contribute to these goals through sustainable investing, resource efficiency, gender equality, and responsible business practices.

Sustainable Products & Innovation

• Responsibly Sourced Gold Note
• VP Bank Thematic Funds
• Sustainable Plus fund mandate
• VP Bank Nova Start and VP Bank Nova Next

Awards & Recognition

• Not disclosed