Helaba has once again expanded its sustainability criteria for lending activities. Each year, the bank adjusts its lending criteria to reflect current developments as part of the annual update to its risk strategy.
In the most recent update, it has decided to make its already restrictive policies with regard to coal-based energy even more stringent. From now on, lending policies explicitly exclude the financing of projects directly related to the mining of thermal coal, including process chains that are directly and exclusively related to this, such as materials handling technology that is predominantly used in thermal coal-related activi-ties. In addition, the OECD's recommendations for environmental and social impact as-sessments must generally be complied with in all export finance transactions.
"We regard the phasing out of thermal coal-related financing as a further important step and a vital component in our commitment to act in a responsible way for the sake of our climate and the lives of present and future Generations."
Deputy Chairman of Helaba's Board of Managing Directors
"We regard the phasing out of thermal coal-related financing as a further important step and a vital component in our commitment to act in a responsible way for the sake of our climate and the lives of present and future generations," explains Thomas Groß, Deputy Chairman of Helaba's Board of Managing Directors. "We will support our customers in the transformation towards a carbon-neutral economy in line with the EU's Green Deal. We are therefore currently embarking on a group-wide project to place even greater emphasis on sustainability, both in our entire internal value chain as well as in our product range. This will enable us to meet both regulatory requirements and the needs of our customers and society".
The bank's lending guidelines, which apply across the board and throughout the entire Group, are based on the ten principles of the UN Global Compact and are enshrined as binding provisions of Helaba's risk strategy. The sustainability criteria are published on Helaba's sustainability portal: www.helaba.com/int/sustainability