|Date joined:||7 August, 2019|
|Initiatives:||Principles for Responsible Banking|
Gatehouse Bank plc is a growing, UK challenger bank based in London and a subsidiary of Gatehouse Financial Group Limited. It is authorised by the Prudential Regulation Authority (PRA) and regulated by the Prudential Regulation Authority and the Financial Conduct Authority (FCA). Founded in 2007, the Bank operates in accordance with Shariah finance principles and offers award-winning savings products and financing for the UK commercial and residential real estate markets, in addition to sourcing and advising on UK real estate investments with a focus on the Build to Rent sector.
Summary of sustainability strategy
Gatehouse Bank is committed to having a positive impact on society and the environment. Corporate social responsibility is viewed as an integral component of the bank’s corporate governance framework. The bank’s business objectives and operations are conducted in a manner that calls for fair dealing with business partners, customers and employees and a sense of corporate responsibility in all business dealings. This approach dovetails with the requirements of Shariah finance principles, which underpin the bank’s operations and form the basis of its product offerings. The Shariah finance principles, also ensure that the bank does not provide finance to businesses engaged in the gambling, adult entertainment, tobacco, arms and alcohol sectors.
The bank current fulfils its corporate and social responsibilities through an ethical approach in support of a range of not-for-profit organisations. The bank aims to work with organisations in the local community with a focus on education and social welfare in order to create sustainable and long-term social enhancements. It launched a ‘Gateway’ Apprenticeship Scheme in 2018 to open up opportunities in ethical finance for young people.
In 2019, the bank launched a ‘Charity of the Year’ initiative, where staff are asked to vote for a charity that is supported by ongoing fundraising activities to be carried out throughout the year. Colleagues chose McMillian Cancer Support as our Charity of the Year 2019 to support the work of this very worthwhile charity.
In addition, in order to support and promote diversity both in the Bank and across the wider industry, Gatehouse is also a member of the Women in Islamic & Ethical Finance Forum (WIEFF). The bank also encourages all staff to operate in a sustainable manner and aims to minimise any harmful impacts on the environment.
Why did the bank join UNEP FI as a member?
The bank became a member to enable it to further focus and accelerate its ambitions by ensuring it measuring success in line with the wider market. In addition, the bank believes that by engaging with like-minded organisations, it will generate new initiatives for the bank to consider.
“Gatehouse Bank is a growing force in UK banking and is committed to having a positive impact on the communities we serve. “Membership of the UNEP Finance Initiative fits with the Bank’s ethical approach to finance and more importantly, will enable us to develop and continuously review our approach as a responsible provider,” Charles Haresnape, Chief Executive Officer, Gatehouse Bank