NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MONTREAL, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Laurentian Bank of Canada (TSX: LB) (Laurentian Bank) today announced the publication of its inaugural Sustainable Bond Framework (“Framework”) as part of its ongoing commitment to drive forward new ESG initiatives that make a positive impact for its customers, investors, employees, and communities.
Sustainalytics – a global leader in independent ESG and Corporate Governance research, ratings and analytics – has completed a second party opinion on the Framework and stated that the Framework is credible and impactful and aligns with the International Capital Market Association's (ICMA) Green Bond Principles 2021, the Social Bond Principles 2021, and the Sustainability Bond Guidelines 2021.
Under the Framework, Laurentian Bank can issue green bonds, social bonds, and sustainability bonds, collectively called Sustainable Bonds. In each case, proceeds of an issuance will be used to finance or refinance eligible projects, loans, and investments that result in making a positive impact on climate change and social inequalities. The eligible categories include renewable energy, green buildings, energy efficiency, low-carbon transportation, affordable housing, access to essential services, majority women-owned SME financing, and leadership in diversity and inclusion.
“At Laurentian Bank, we believe we can change banking for the better by supporting our customers in making the better choice in terms of environmental, social and governance (ESG) best practices. The introduction of this Sustainable Bond Framework is a critical step in the rollout of the Bank’s strategic plan, which is anchored in a commitment to incorporating ESG into all of our operations and activities.”
- Rania Llewellyn, President and CEO, Laurentian Bank
A copy of the Framework, the second party opinion from Sustainalytics, and the latest ESG Report, are available in the Sustainable Bonds page on our public website.
This press release shall not constitute an offer to sell or a solicitation to buy securities in any jurisdiction.
About Laurentian Bank
At Laurentian Bank, we believe we can change banking for the better, by seeing beyond numbers.
Founded in Montréal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, we have approximately 3,000 employees working together as one team, to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. We protect, manage and grow $49.8 billion in balance sheet assets and $27.8 billion in assets under administration.
We drive results by placing our customers first, making the better choice, acting courageously, and believing everyone belongs.
Information:
| Merick Seguin |
| Cell: 514 451-3201 |
| merick.seguin@laurentianbank.ca |
Caution regarding forward-looking statements:
From time to time, Laurentian Bank (the “Bank”) will make forward-looking statements within the meaning of applicable Canadian and United States (U.S.) securities legislation, including such as those contained in this document. These forward-looking statements are made in accordance with the “safe harbor” provisions of, and are intended to be forward-looking statements under, applicable Canadian and U.S. securities legislation, including, the U.S. Private Securities Litigation Reform Act of 1995. They include, but are not limited to, statements regarding the Bank's vision, strategic goals, business plans and strategies, priorities and financial performance objectives. By their very nature, forward-looking statements require the Bank to make assumptions and are subject to inherent risks and uncertainties, both general and specific in nature, which give rise to the possibility that the Bank's predictions, forecasts, projections, expectations, or conclusions may prove to be inaccurate; that the Bank's assumptions may be incorrect (in whole or in part); and that the Bank's financial performance objectives, visions, and strategic goals may not be achieved. Forward-looking statements should not be read as guarantees of future performance or results, or indications of whether or not actual results will be achieved. The Bank cautions readers against placing undue reliance on forward-looking statements, as a number of risk factors, many of which are beyond the Bank's control and the effects of which can be difficult to predict or measure, could influence, individually or collectively, the accuracy of the forward-looking statements and cause the Bank's actual future results to differ significantly from the targets, expectations, estimates or intentions expressed in the forward-looking statements. The Bank does not undertake any obligation to update any forward-looking statements made by the Bank whether as a result of new information, future events, or otherwise, except to the extent required by applicable securities regulations law. Information on the assumptions and risks related to the Bank’s forward-looking statements is available in the Bank's Management’s Discussion and Analysis for the fiscal year ended October 31, 2021, as updated, and located on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
