Liechtenstein showcases credentials as a sustainable economic area

Liechtenstein has presented itself as a sustainable economic area at the Swiss Green Economy Symposium. Chief executives from companies such as Hilcona, Hilti and LGT offered specific examples of how they are contributing to sustainability both at home and around the world.

Liechtenstein has recorded some notable successes on its way to becoming a sustainable economic area. This was underlined by representatives from the worlds of business and politics at the Liechtenstein Innovation Forum, which took place on Thursday as part of the Swiss Green Economy Symposium in Winterthur. Doris Frick, Ambassador of the Principality of Liechtenstein to Switzerland, pointed out that Liechtenstein has the largest installed capacity of photovoltaics per capita worldwide, while all municipalities in the country are certified as energy cities. This is also a first in Europe.

Liechtenstein companies have integrated sustainability aspects into their daily operations. “For Hilti, sustainability means including not only economic factors but also ecological and social factors in corporate strategies, thereby ensuring long-term corporate success”, comments Peter Rupp, Head of Corporate Sustainability at Hilti. Measures to strengthen sustainability are implemented by the operational units themselves. Ultimately, sustainability pays off. “The bottom line is that sustainability earns us money”, Rupp explains.

From the perspective of Martin Henck, sustainability is not just about reducing or even eradicating the consumption of certain materials. “Sustainability opens up opportunities”, comments the CEO of the food processing company Hilcona. His company has launched around 100 products in this area, with sales of vegan products having doubled over the past year. The proprietary brand Green Mountain has capitalized on a cool trend and is regarded as highly promising. “I’ve worked in this industry for a long time, but I’ve never seen a movement like this”, says Henck.

Sustainability is also a core issue for the financial sector. In this regard, Liechtenstein’s largest bank, LGT, intends to operate on a climate-neutral basis by 2030. Olivier de Perregaux, CEO Private Banking at LGT, explained how the bank is working to integrate sustainability criteria in its asset management activities. All clients are granted access to what is known as the ESG Cockpit, via which they can find out all about the ecological, social and governance evaluation with regard to their investments. The important thing is for client advisors themselves to be convincing. Accordingly, they receive further training, including in locations such as Hong Kong and Singapore.

The sustainability credentials of the economic area can also leave a mark outside Liechtenstein. Doris Frick pointed out that the member companies of the Liechtenstein Chamber of Commerce and Industry employ a total of 56,700 people abroad, while Olivier de Perregaux advocated that Liechtenstein could exploit the theme of sustainability to position the itself on the international stage: “As a small country, we can also bring issues to the table that are uncomfortable”.

Share article

More news

QR-bill replaces payment slips

The QR-bill will be introduced to Switzerland and Liechtenstein on June 30th. It aims to make e-banking and mobile banking payments easier. The QR-bill will gradually replace the current payment slips.


Liechtenstein banks to pay for holiday activities

Together with the Office for Social Services, the LBA has organized a free program of holiday activities for children. This is aimed at easing the burden during the summer holidays on families that have faced serious challenges in connection with the coronavirus crisis.


Investor Summit Liechtenstein looking for champions

Start-ups and SMEs looking for capital can now apply for the Investor Summit Liechtenstein. Winners will have the opportunity to present their ideas in front of around 250 investors. Carsten Maschmeyer and Prinz Max von und zu Liechtenstein will appear as speakers.


LLB ensures the sustainability of its gold fund

Liechtensteinische Landesbank (LLB) is offering an investment opportunity in gold that complies with ESG criteria to sustainability-oriented investors for the first time. The fund is covered by physical gold sourced from sustainable production activities.