December 12 (SeeNews) - The Netherlands-based ratings and data firm Sustainalytics has assigned an environmental, social, and corporate governance (ESG) risk rating of 17.7 to Slovenian lender NLB [LJE:NLBR], the bank said on Monday.
NLB received its first ESG rating and the bank was assessed by Sustainalytics to be at low risk of experiencing material financial impacts, due to its medium exposure and strong management of material ESG issues, the lender said in a filing with the Ljubljana Stock Exchange.
"ESG ratings are not just an empty letter on paper – they are the result of a review by independent and world-renowned experts, they are an incentive for us and they encourage our stakeholders to trust our business decisions and actions," NLB CEO Blaz Brodnjak said.
NLB is noted for its strong corporate governance performance, which is reducing its overall risk, and has not experienced significant controversies, Sustainalytics said, according to NLB.
In addition, NLB's ESG risk rating places it among the best 15% of banks assessed by Sustainalytics.
Sustainalytics' ESG risk ratings measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks, providing a quantitative measure of unmanaged ESG risk and distinguishing between five levels of risk: negligible, low, medium, high and severe.
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