Find out more about the Principles
“The Principles are an opportunity for banks to show leadership in the context of the global challenges we face today by aligning their business strategies with society’s goals as expressed by the Sustainable Development Goals and the Paris Agreement, and by working with each other, with clients, and with stakeholders to make the greatest possible impact for the good of global economies.”
– Priya Mathur, CalPERS Board President
The key features of the Principles for Responsible Banking
The Principles provide the banking industry with a single framework that embeds sustainability at the strategic, portfolio and transactional levels and across all business areas. The Principles align banks with society’s goals as expressed in the Sustainable Development Goals and the Paris Climate Agreement.
Target setting in the most material areas is a key feature of the Principles. Banks are required to set and publish targets in line with society’s goals, as expressed in the SDGs, the Paris Climate Agreement and relevant national frameworks, in the areas where they have the most significant positive and negative impact.
The Principles require banks to be transparent and accountable. Banks are required to report publicly on their positive and negative impacts, their contribution to society’s goals and their progress in implementing the Principles, and to engage with key stakeholders on their impacts.
A guidance document to support banks in their implementation of the Principles and point to relevant resources, tools, frameworks and good practices will be published in September 2019.
Further support available to Signatory Banks, as UNEP FI members, includes an annul feedback and support meeting with UNEP FI experts, structured peer learning – from banks globally and in your region, trainings, and experts supported working groups. For more information, please contact firstname.lastname@example.org.
See an overview of the Key Steps to be Implemented by Signatories.
How they were developed
30 leading banks from around the globe, jointly representing more than USD 18 trillion in assets, have come together to establish the Principles for Responsible Banking under UNEP FI. These 30 banks have been advised by a group of 12 civil society institutions, including Oxfam International, 2 Degrees Investing Initiative and WWF, in the development of the Principles for Responsible Banking.
The draft Principles for Responsible Banking were launched for global public consultation at the UNEP FI Global Roundtable in Paris on 26 November 2018.
A six-month global public consultation process with over 500 stakeholders concluded on May 31 2019.