NLB Group publishes first net zero portfolio targets

At NLB, we recognize the importance of setting ambitious targets and taking bold actions to combat climate change. Our Net Zero strategy focuses on key sectors such as power generation, iron and steel, residential mortgages, and commercial real estate, where we have significant emissions, exposure and NZBA-aligned targets. We are committed to reviewing and updating our targets at least every five years to ensure they align with international agreements and national goals. Our progress in achieving these targets will be communicated through annual progress reports in our sustainability reports.

We invite you to read our Net-Zero disclosure report for more details on our sustainability initiatives and targets, available here.

More information on NZBA

Since the NZBA was launched in April 2021, numerous banks from all regions have committed to achieving net-zero financed emissions by 2050. While the Alliance is UN-convened, this is a bank-led initiative with member banks making individual voluntary net-zero commitments. Alliance member banks have committed to individually setting initial emission reduction targets covering certain carbon-intensive sectors within 18 months of joining. Target setting requires a cross-functional collaboration within the bank to set credible and actionable targets, which can support the internal mainstreaming of net-zero transition planning. In addition, the increasing number of banks announcing their targets across all regions sends an important signal to the real economy.