“We have made good progress in the last twelve months… But we are really still at the very early stages.”
– Eric Usher, Head of UNEP Finance Initiative 

Building on solid foundations

Representing around 40% of the global banking sector, the Principles for Responsible Banking have created a unique community of people and organisations who are together creating the future of banking.

The first year of the Principles for Responsible Banking has seen growth in signatories and banks beginning to embed the Principles in their businesses.

The signatories have worked together to begin designing the tools and methodologies needed to make progress.

Building on these solid foundations will require signatories to continue to harness the passion and commitment to change shown in Year One.

The focus for Year Two

In Year Two of the Principles, banks will be applying the impact analysis tools they have co-created in year 1 to assess their portfolios’ greatest impacts. And from there they will be setting targets and establishing milestones towards those targets.

They will be producing their first formal reports on the progress they have made in understanding their overall impact, and the plans they are putting in place to mitigate the most significant negative impacts and enhance the positive ones. Each bank will receive feedback on their reports.

The first biennial report on collective progress will be produced at the end of Year Two. The Civil Society Advisory Body will also issue its own independent review of the progress the signatories have made.

Year One of the Principles has been a good start. There is lots more to come.

See all our Year One updates