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      our sustainability report 2020.

      engagement
      engagement·investments·technology·footprint·colleagues·philanthropy·contact

      message from our Partners.

      We compiled our 2020 Sustainability Report during an extraordinary period for the Group and, indeed, our world. The Covid-19 pandemic has triggered the deepest recession in modern history, the recovery from which, we are convinced, must be sustainable. We see many opportunities to achieve such a recovery, particularly in transitioning from a Wasteful, Idle, Lopsided and Dirty (WILD) economic model to one that is Circular, Lean, Inclusive and Clean (CLIC®).

      download the full report here
      wasteful
      circular
      idle
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      inclusive
      dirty
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      MANAGING PARTNERS
      From left to right: Denis Pittet · Alexandre Zeller · Annika Falkengren · Hubert Keller · Patrick Odier · Frédéric Rochat

      Lombard Odier Managing Partners

      In 2020, we successfully launched two new high-conviction strategies. The first focuses on transitioning to a climate-resilient economy, while the second is designed to contribute towards protecting and harnessing the value of our Natural Capital.

      Amid the complex environment created by Covid-19, our priority was to ensure that we could continue to offer our clients exceptional service while protecting our colleagues and their families. When the first global lockdowns came into effect in early 2020, our Business Continuity Plan enabled us to offer our clients uninterrupted service even as 80% of our employees immediately began working from home. Furthermore, we were able to quickly introduce new functionalities in response to our clients’ developing needs. 

      We enter 2021 optimistic that the recovery from the Covid-19 pandemic will be sustainable. But to realise this aspiration, we must all play our part. At Lombard Odier, we will continue to support our clients in achieving their financial goals as we promote the transition to the CLIC® economic model that will ensure a sustainable tomorrow, both for ourselves and for generations to come.

       

      Lombard Odier has been a B Corp-certified company since March 2019. B Corp is one of the most widely recognised private sustainability certifications granted to companies that practice corporate sustainability at the highest level. We are part of a worldwide network of like-minded entrepreneurs in which certified B Corps endeavour to use business as a force for good, aiming to have a positive impact on the economy and society. Lombard Odier achieved a B Impact assessment score of 98.8 out of 200, well above the 80-point certification threshold. B Lab will re-evaluate our B Corp certification in 2022.

      B Corp score

      investments.

      We are at the beginning of a profound economic transition. Our society has long relied on a growth model that has become unsustainable, and the shift to a new paradigm is already underway. We believe that sustainability is now the most significant determinant of how we interact with companies. By distinguishing businesses that achieve lasting success from those that do not, sustainability will drive short- and long-term returns.

      Decoupling growth from its negative environmental and societal footprints is becoming ever more realistic. We characterise this transition as a shift from a WILD economy to a digitally enabled CLIC® economy. And we believe it is our duty to help our clients mitigate the risks and capture the investment opportunities associated with this transition.

      One such opportunity is the inevitable transition to a low-carbon, climate-resilient economy. The Lombard Odier Portfolio Temperature Alignment (LOPTA) framework enables us to assess the degree to which companies are aligned with the decarbonisation pathways entailed in the Paris Agreement.  Furthermore, our Climate Transition Fund captures opportunities across all sectors created by the need to transition to a net-zero economy and adapt to climate change. These initiatives will allow us to help our clients invest in those companies best-positioned to capitalise on the opportunities of decarbonisation.

       

      Listen to Stéphane Monier, Chief Investment Officer, Private Bank, Bank Lombard Odier & CO Ltd, discuss Lombard Odier’s sustainable investment philosophy.

      Natural Capital is the bedrock of our economy and society: more than half of the world’s GDP (USD 44 trillion) is believed to be moderately to highly dependent on nature (World Economic Forum 2020). That’s why, in November 2020, we launched our Natural Capital strategy to create opportunities to invest in companies that leverage the regenerative power of nature. This is a unique global investment strategy directly inspired by HM The King and developed in partnership with the Circular Bioeconomy Alliance, established under his Sustainable Markets Initiative. We also entered into a partnership with the University of Oxford to foster research and teaching on sustainable finance and investment, with a particular focus on climate change, the circular economy and natural capital.

       

      Listen to Dr Ben Caldecott, Director, Oxford Sustainable Finance Programme & Lombard Odier Associate Professor of Sustainable Finance, University of Oxford, on the relationship between sustainability and finance.

      $44tn

      in global GDP is moderately or highly dependent on nature

      1/3

      of new molecules approved by the Food and Drug Administration are natural products or their derivatives

      $24tn

      the value of Earth’s oceans, according to the World Wildlife Fund (WWF)

      417.64

      parts per million of CO2 in the atmosphere

      3°C

      current projected global temperature increase by 2100

      50%

      decrease in CO2 emissions by 2030 needed to limit the global temperature rise to 2°C

      79%

      of plastics have ended up in landfills

      92%

      of the time an average car sits idle

      1.3bn

      tons of food is wasted globally each year

      technology.

      2020 underscored the importance of our efficient, highly secure, bespoke banking platform. Efficient and secure banking technology is essential to the responsible and sustainable management of a financial institution, and Lombard Odier’s banking technology is one of the three pillars of our business.

      Technology is an important part of implementing our internal sustainability strategy. Today, the value of discarded electronics is currently estimated at over USD 60 billion. At Lombard Odier, we have put in place a number of initiatives to tackle the growing problem of e-waste. We aim to ensure that our electrical appliances are recycled and re-used whenever possible. Furthermore, through our technology innovations, we are moving towards a paperless office.

      Discover more on our tech tools and strategies with our experts Geoffroy de Ridder, Executive Vice President, Head of Technology & Operations and Richard Denglos, Senior Vice President, Head of IT Infrastructure, Bank Lombard Odier & Co Ltd.

      The coronavirus pandemic has emphasised the need to remain prepared for the unexpected through flexible, integrated technology that protects our clients in an ever-changing world. We are tackling today’s cyber challenges to prepare for the bank of tomorrow.

      Lombard Odier is committed to using the power of education and technology for good. Working with our strategic partner, the École Polytechnique Fédérale de Lausanne (EPFL), Fondation Lombard Odier is a founding partner of the EPFL Center for Digital Trust (C4DT). The C4DT is a partnership between researchers, industries, the public sector and civil society to define and realise a shared vision: the development of mechanisms to build and maintain confidence in the digital era. It develops pioneering information and communication technologies, drawing upon the deep and diverse reservoir of skill and talent found at EPFL and in the wider Lake Geneva region. 

      Hear directly from the President of EPFL, Martin Vetterli, on the risks and opportunities of digitalisation.

      our carbon footprint.

      In 2020, Lombard Odier’s global carbon footprint was 3,456 tonnes CO2e, down from 7,547 tonnes CO2e in 2019 (revised figure). Clearly, the primary driver of this 54% year-on-year reduction, in our carbon footprint, was the Covid-19 pandemic’s global impact on travel and work.

      We align our efforts to reduce our footprint by aiming to make our operations Circular, Lean, Inclusive and Clean (CLIC®). Reducing our carbon footprint does not just enable us to have a positive impact on the environment and our stakeholders. It also produces economic benefits in the form of increased operational efficiency and reduced costs. 

      SusReportPage-IconesNoCircle
      100%

      renewable electricity 
      sources in Geneva in 2020

      SusReportPage-IconesNoCircle
      -9%

      reduction in electricity use in our Geneva buildings from 2020 from 2019

      SusReportPage-IconesNoCircle
      >80%

      heating from an in-house circular system in our Geneva buildings in 2020

      SusReportPage-IconesNoCircle
      52

      tonnes of paper recycled, globally in 2020

      SusReportPage-IconesNoCircle
      2

      tonnes of plastics recycled, globally in 2020

      SusReportPage-IconesNoCircle
      -88%

      decrease in printouts in 2020 from 2019

      SusReportPage-IconesNoCircle
      -75%

      reduction in global flights in 2020 from 2019

      SusReportPage-IconesNoCircle
      +91%

      increase in video conferences in 2020 from 2019

      The construction of our new headquarters in Bellevue, on the right bank of Lake Geneva, is forging ahead. Our aim is to create a beautiful building which showcases our commitment to sustainability. To achieve this, we are adhering to the highest sustainability standards and ensuring a holistic approach to every aspect of the construction. We are formalising the sustainability framework in line with the three sustainable building certifications we aim to achieve: SNBS (Standard Nachhaltiges BauenSchweiz), Minergie-P and BREEAM®.

      In line with Lombard Odier’s emphasis on the importance of preserving biodiversity, we installed beehives on our site in spring 2021.

      Bees are essential to the ecosystem. Installing beehives at our future headquarters aims to help preserve biodiversity

      our colleagues.

      As one of the key pillars that enable the growth and success of our business, our colleagues are at the centre of our considerations. Lombard Odier strives to provide an ethical and inclusive workplace for all employees. Throughout the Covid-19 pandemic and the subsequent lockdowns, Lombard Odier offered employees a range of online courses and virtual meetings designed to support their health and general well-being in these difficult times. 

      Discover how we adapted and stayed resilient in 2020 with our expert Joanna Kaye, Executive Vice President, Head of Operational Risk and Member of Lombard Odier Crisis Management team, Bank Lombard Odier & Co Ltd.

      Lombard Odier has joined forces with the Resilience Institute to offer our colleagues a series of six webinars on the theme of resilience. These webinars aimed to provide advice and access to practical tools designed to boost morale and restore energy. We held a 21-day online well-being programme in April and May 2020 to help employees relax, build physical strength and improve concentration. This included three courses: Total Body Workout, Mindfulness Meditation and Yoga.

      Equal rights and a better work-life balance for our employees is of great importance at Lombard Odier. Since the creation of the Gender Initiative in 2016, we have witnessed a positive evolution in the role of women within the Group. Thanks, in part to this initiative, we have increased the number of women at senior management levels, improved post-maternity leave retention rates and enabled more male employees to work part-time.

      In 2020, we introduced a wide range of personal development courses to our internal digital learning platform, LO University, which is available to all of our colleagues. We also launched a new learning platform: Coorpacademy. The platform was created at EPFL in Switzerland and offers more than 1,000 interactive courses in a bite-sized format that adapt to the individual’s knowledge level. For our 300 colleagues working in Technology and Operations (T&O), we introduced Pluralsight: a new digital solution dedicated to developing technological skills in November 2020.

      64%

      men

      36%

      women

      69

      nationalities

      21%

      of senior management were women

      158

      employees were promoted

      60%

      of employees participated in our global survey focused on the Covid-19 pandemic situation

      93%

      of employees participated in at least one training session

      Hear from Vincent Magnenat, Limited Partner, Chief Executive Officer, Lombard Odier Asia, on how Covid-19 affected our Asia team’s operations and the post-pandemic future.

      download the full report.

      Discover more on our corporate sustainability initiatives and download our Sustainability Report here.

      download the full report

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