In an interview with finews.asia, Heinrich Henckel, CEO of LGT Bank Switzerland, explains why private banks are showing an interest in the emission-free Formula E.
Mr. Henckel, why did LGT decide to sponsor the ABT Schaeffler Audi Sport Formula E team?
Every world-class motor sport series requires concentration, determination and commitment – these values are an ideal fit with our own values. We want our commitment to support new technologies.
We firmly believe that the Formula E plays an important role in the development of seminal and sustainable models for urban mobility.
So the nature of the the first racing series for electric cars was an important factor in LGT’s decision to support the ABT team?
Absolutely. We are convinced that e-mobility will become of increasing importance in the future. As a company, our social and environmental footprint is generally important to us.
«Investors find it important that their investments are in harmony with their values»
That is why we have set ourselves the objective of achieving a greater degree of sustainability in our business activities in the future. This also includes our investment portfolios in private banking and asset management.
Where do you currently stand on that front?
We are already among the pioneers in the global sustainable investment space. We offer our clients a broad range of products with a number of sustainable investment possibilities – from investment funds and impact investments through to a variety of philanthropic commitments.
Is there actually a demand for this offering from your clients?
Yes, an increasing number of investors find it important that their investments are in harmony with their values. The issue has gained enormously in importance, in particular for institutional investors. Sustainability criteria today play an important role in many pitches.
«We will use our ESG screening to measure the environmental footprint of each portfolio»
But it is also becoming increasingly important to our private clients to know which companies, countries and projects their capital is flowing into. We already apply our ESG screening to our investment funds, and in the future, we will use this to measure the environmental footprint of each portfolio, and will be able to give the client an account of the effects of his or her investment on society and the environment.
And how do your clients feel about your involvement in Formula E?
A lot of our clients are motor sport fans. Obviously, for them it is great to be able to experience a Formula E race up close. As the sponsor of a team, we have the possibility of visiting the ABT box with our guests and to have the technology, the action on the circuit, and the background explained to us by the engineers and drivers. That makes for a memorable experience.
