OLB receives improved ESG rating
- Oldenburg | 28. August 2023
Summary
- S&P Global recognises progress in sustainability activities
- Revaluation puts OLB in the top quarter of the industry
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Oldenburgische Landesbank AG (“OLB” or “Bank”) has been rewarded for its continued high level of commitment to sustainability activities. After the Bank was awarded 30 points by the renowned agency S&P Global in its first ever ESG rating in March of this year, S&P Global has now raised the rating to 35 points in an updated review. This puts OLB in the top quarter of all rated institutions in an international comparison of banks; the industry average in the ESG rating currently is 29 points.
"We are very pleased with this good result, it is a reward for what we have achieved and an additional incentive to consistently continue on the path we have taken in our sustainability activities," says Holger Sandker, Head of Sustainability at OLB, "in March we said that the first rating is a milestone and we are aiming for continuous further development. We appreciate that S&P Global has recognised our commitment so quickly." In particular, OLB's greatly improved transparency in the environmental area compared to the previous audit convinced the agency in its assessment.
The agency, which is known in particular for its rating subsidiary Standard & Poor's (S&P), once again analysed and ranked OLB on the basis of more than 100 criteria to what extent it takes into account key aspects of sustainability in the banking business in the areas of the environment (Environmental), social affairs (Social) and corporate governance.
Independent, external ratings such as the ESG rating from S&P Global provide both customers and, in particular, institutional investors and investors on the capital market with reliable orientation for financing and investment decisions. One of the requirements met from the first step, for example, is transparent reporting on various ESG aspects on the corporate website. At www.olb.de/sustainability, OLB provides extensive information about its approach and goals in terms of sustainability, its mission statement, its ESG policy and other relevant points.
About the OLB
Oldenburgische Landesbank AG is a profitable and growing universal bank for private and corporate customers in Germany and neighbouring European countries. Under its OLB Bank and Bankhaus Neelmeyer brands, OLB advises its more than 650.000 customers in person and via digital channels in its Private & Business Customers and Corporates & Diversified Lending segments. The Bank has about EUR 25 bn of total assets.
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