Published: 27.03.2023

Latvijas Banka, the central bank of Latvia, has released its first sustainability disclosures report, providing transparency on its efforts to promote sustainable development and addressing environmental, social, and governance (ESG) issues.

The report, which covers the year 2022, highlights Latvijas Banka's commitment to sustainability and outlines its key achievements in areas such as climate-related risk mitigation, social responsibility, and governance. The report also details Latvijas Banka's governance, strategy and risk management practices as well as its approach to managing climate-related risks within non-monetary policy portfolios.

"Our sustainability disclosures report is an important milestone for Latvijas Banka as we continue to integrate sustainability into our investments and decision-making processes," said Mārtiņš Kazāks, Governor of Latvijas Banka. "We recognise the importance of sustainable development, and we are committed to playing our part in addressing global challenges such as climate change, preservation of biodiversity and inequality."

In the report, Latvijas Banka reveals that it has made significant progress in reducing its carbon footprint within its developed markets equity portfolio – compared to the previous year the carbon footprint of the portfolio decreased by 47%.

"We are proud to release our first climate-related disclosures report, which reflects our commitment to transparency and sustainability," said Mārtiņš Kazāks. "We believe that by addressing climate-related and sustainability issues, we can create long-term value for our society, contribute to a more sustainable future, and inspire the whole financial sector of Latvia to follow this lead."

Latvijas Banka's disclosures are part of an effort by all Eurosystem central banks to publish climate-related financial disclosures on their euro-denominated non-monetary policy portfolios using a common framework that defines minimum reporting requirements based on the recommendations of the Task Force on Climate-related Financial Disclosures.

The sustainability disclosures report.

Latest News


Latvia's Coin of the Year 2023 – Stardust

The annual survey results have revealed that Latvia's Coin of the...

Latvijas Banka issues a collector coin "Across the Times"

On Tuesday, 16 April, Latvijas Banka is releasing a collector...

Latvijas Banka imposes a fine on the former officials of Baltic International Bank SE

The Supervision Committee of Latvijas Banka decided to impose a fine...

 Payment radar: the share of non-cash payments has reached a historical high

The most recent (spring 2024) "Payment radar" published by...

Performance indicators of credit unions of Latvia in 2023

Performance indicators of credit unions of Latvia in 2023PDF

Macroeconomic forecasts | March 2024

Latvijas Banka has published its latest macroeconomic forecasts...

Latvian investment firms recorded a profit of 840 thousand euro in 2023

Latvian investment firms made a profit of 840 thousand euro in...

Coin Programme for 2024

In 2024, Latvijas Banka intends to issue five collector coins, as well...

Depositors of the insolvent AS PNB Banka are requested to receive the guaranteed compensation by 15 August 2024

In accordance with the provisions of Paragraph four of Section 3...

786.1 million non-cash payments totalling 409.3 billion euro were executed in Latvia in 2023

786.1 million customer non-cash payments totalling...

Representatives of the Single Resolution Board are visiting Latvia

The representatives of the Single Resolution Board visited Latvia on...

Priorities and the plan of action in the area of resolution and the compensation scheme have been approved

Latvijas Banka has set the 2024–2026 priorities for resolution and...