The report, which covers the 2024 calendar year, is prepared in line with the Eurosystem’s common stance on climate-related disclosures and the recommendations of the Task Force on Climate-Related Financial Disclosures.
It offers a comprehensive overview of Latvijas Banka’s progress in managing climate-related risks across its investment portfolios and reflects Latvijas Banka’s efforts to align its investment strategies with the objectives of the Paris Agreement and the European Union’s climate neutrality goals.
Among the key developments highlighted in the 2025 report is a “significant” reduction in the carbon footprint of it portfolios.
“The developed markets equity portfolio has achieved a 73% reduction in its carbon footprint since the implementation of its sustainability strategy in 2022, demonstrating the effectiveness of Latvijas Banka’s decarbonisation efforts,” the cental bank said.
Mārtiņš Kazāks, Governor of Latvijas Banka, commented:
“Climate change is not a distant threat – it is a present-day challenge that demands urgent and coordinated action. At Latvijas Banka, we are committed to doing our part by integrating sustainability into our investment decisions and by promoting transparency. The transition to a low-carbon economy will reshape industries and societies, and we must ensure that finance plays a constructive role in this transformation. Our children will live with the consequences of our choices today, and we must act responsibly and decisively.”
The full report is available on Latvijas Banka’s website: https://www.bank.lv/en/news-and-events/other-publications/climate-related-disclosures-of-latvijas-banka-s-non-monetary-policy-portfolios.
Select text and press Ctrl+Enter to send a suggested correction to the editor
Select text and press Report a mistake to send a suggested correction to the editor
Tell us about a mistake