16 March 2021
Geneva, March 16 2021 – Today sees the launch of the Civil Society Advisory Body of the Principles for Responsible Banking (‘the Principles’). Composed of 12 leading organisations, the body is a unique, first-of-its-kind forum for constructive and meaningful engagement between wider civil society and the collective banking industry.
It is a key mechanism to help the Principles maintain ongoing relevance with societal needs and ensure signatory banks deliver on their commitments with ambition and transparency. The new body consists of the following organisations: Business & Human Rights Resource Centre, Ceres, Conservation International, Climate Action Network, FGVces, International Labor Organization (ILO), John D. Gerhart Center, Share Action, SASB – Sustainability Accounting Standards Board, The European Federation of Investors and Financial Services Users (Better Finance), UNI Finance – UNI Global Union, and WWF.
“The creation of the Civil Society Advisory Body represents the final important piece in the governance of the Principles for Responsible Banking.”
– Eric Usher, Head of UNEP FI
Each organisation represents a geographical region, a sustainability theme (such as climate, nature, human rights, and gender) or a stakeholder group (such as employees, retail and SME clients of the financial sector).
They will also contribute to, and support, the effective implementation of the Principles by engaging with the banking board and signatory banks collectively, providing regular input to progress evaluations, and advising on strategy and framework revisions. Over 45 organisations applied to the Body, and successful applicants were appointed following a robust and transparent selection process. The members of the Civil Society Advisory Body will also engage and consult with relevant organisations in their representative areas, to ensure that they reflect the diverse views of wider civil society.
“The diverse nature of the body, as well as the extremely high level of expertise brought by these organisations will ensure the Principles for Responsible Banking stay relevant to society’s needs and signatory banks are able to constructively engage at a collective level, delivering on their commitments with transparency and accountability.”
-Eric Usher, Head of UNEP FI