26 June 2019
26 June 2019, Geneva – The number of banks worldwide lined up to become an official “Signatory” of the highly anticipated Principles for Responsible Banking has now jumped to 69 representing all continents.
The Principles for Responsible Banking are set to launch on 22 September 2019 at the United Nations (UN) Headquarters, during the UN General Assembly – the annual meeting of the world’s Heads of State. To date, 34 bank CEOs have confirmed that they will be personally participating in the high-level launch event.
An extensive six-month public consultation process for the Principles for Responsible Banking closed on 31 May. It included the cumulative participation of more than 500 stakeholders through 17 webinars, 36 live meetings and events held across 34 countries, and individual engagement in the online feedback system. Through this participatory process, more than 250 banks provided inputs into shaping the Principles for Responsible Banking along with civil society, other financial institutions, banking associations, technical experts and others.
A preliminary compilation of the feedback received through March, as well as the responses and actions taken, is now available, while the full feedback compilation will become available in August.
Latest banks joining this month the now 69 endorsers of the Principles for Responsible Banking include: Banco Guayaquil, Banco Hipotecario, Bankia, Beneficial State, Desjardins, Eurobank, IDLC, LABORAL Kutxa, Maha Agriculture Microfinance, and Produbanco.
They join the 28 endorsing Founding Banks: Access Bank, AAIB, Banco Pichincha, Banorte, Barclays, BBVA, BNP Paribas, Bradesco, CIB, CIMB, First Rand, Garanti, Golomt Bank, Hana Financial Group, ICBC, ING, KCB, Land Bank, National Australia Bank, Nordea, Piraeus, Santander, Shinhan, Standard Bank, Societe Generale, Triodos, Westpac and Yes Bank.
Additional endorsing banks, to date, are: ABN AMRO, Alex Bank, Amalgamated Bank, Arion Bank, Banco Galicia, Banco de Fomento Agropecuario, BCC Grupo Cooperativo Cajamar, BMCE, Caixa, Danske Bank, DGB Financial Group, GLS Bank, Itaú Unibanco, Jyske Bank, Julius Baer, KBC Group, KB Financial Group, Keystone, La Banque Postale, Landsbankinn, Natixis, Polaris Bank, SpareBank 1 Østlandet, Standard Chartered, Sumitomo Mitsui Financial Group, Sumitomo Mitsui Trust Holdings/Bank, WEMA Bank, Zenith Bank.
The Principles for Responsible Banking have also been endorsed by a growing number of other stakeholders, including: BBVA Microfinance Foundation, Central Bank of Greece, Chartered Banker, Ethical Finance Hub, European Association of Co-operative Banks, Dutch Banking Association (NVB), European Banking Federation, Finance Finland, European Financial Congress, Institute for Social Banking, Latvian Financial Sector Association, Luxembourg Bankers’ Association, Mesa de Finanzas Sostenibles de Paraguay, Mindful Finance Institute, Natural Capital Coalition, RepRisk, Responsible Finance & Investment Foundation, SITAWI Finance for Good, Spanish Banking Association, Spanish Confederation of Savings Banks (CECA), Sustainable Inclusive Solutions, THAIPAT and UK Islamic Finance Council.
About the Principles for Responsible Banking
The Principles for Responsible Banking have been developed by the banking industry itself, together with the United Nations Environment Programme Finance Initiative (UNEP FI) – a UN-private sector collaboration that includes membership of more than 240 finance institutions around the globe. In an era of increased expectations for banks to support and meet the sustainability goals and standards set by their customers, clients, investors and society-at-large, these Principles define what it means to be a “responsible bank.”
The Principles for Responsible Banking guide a bank to integrate sustainability across all its business areas – from strategic to portfolio to transaction levels. In so doing, they support banks to remain competitive today and into the future, while ensuring that banks create value for both their shareholders and society.
They have been designed to enable all banks to implement them, no matter their specific context or whether the bank is only beginning to integrate sustainability into its business. The transparency and accountability mechanisms of the Principles for Responsible Banking require banks to manage what matters most, set public targets and report back on progress.
The United Nations Environment Programme Finance Initiative (UNEP FI) is a partnership between United Nations Environment and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. More than 240 financial institutions, including banks, insurers and investors work with UN Environment to understand today’s environmental, social and governance challenges, why they matter to finance, and how to actively participate in addressing them. www.unepfi.org