Creating the future of banking
The Principles for Responsible Banking are a unique framework for ensuring that signatory banks’ strategy and practice align with the vision society has set out for its future in the Sustainable Development Goals and the Paris Climate Agreement.
The framework consists of 6 Principles designed to bring purpose, vision and ambition to sustainable finance and created in 2019 through a partnership between founding banks and the United Nations. Signatory banks commit to embedding these 6 principles across all business areas, at the strategic, portfolio and transactional levels.
A 3-step process guides signatories through implementing their commitment:
- Impact Analysis: identifying the most significant impacts of products and services on the societies, economies and environments that the bank operates in.
- Target Setting: setting and achieving measurable targets in a banks’ areas of most significant impact.
- Reporting: publicly report on progress on implementing the Principles, being transparent about impacts and contributions.
Through the Principles, banks are convened by the United Nations to collectively produce cutting-edge guidance and pioneering tools on key areas of sustainable finance, learn best-practice from their peers, scientists and industry experts, and benefit from individual feedback and collective reviews as they progress on their sustainability journey.