|Date joined:||16 August, 2019|
|Initiatives:||Net Zero Banking Alliance and Principles for Responsible Banking|
GLS Bank only invests in sustainable areas and business sectors and has strict exclusion criteria relating to controversial business areas as well as business practices. The modelling of ESG risks related to the internalization of external costs at portfolio level is currently developed and implemented though it focuses on specific risk areas as most risks are already excluded by its investment criteria.
The bank intends to expand its emission reporting. In the future, it will report along the Plattform Carbon Accounting Financials (PCAF) standard, in order to assess the climate related risks of our business activity. The data will be the basis for the management and disclosure along the recomendations of the Task Force on Climate-Related Financial Disclosre (TCFD).
This will be in done in light of recent events, such as the commitment of the Global Alliance for Banking on Values to align the carbon footprint of the members with the Paris agreement.
In parallel, the bank is currently restructuring its impact assessment for loan and investment portfolios to measure positive societal chance and position this as an internal management tool and external communication and awareness-raising concept.