The Principles for Responsible Banking define the framework in which sustainable banking will be developed.
The adoption of the Principles will align the banking sector, on a global level, with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement.
By signing the Principles, banks choose to become more responsible, strengthening their social contribution, supported by a globally accepted framework that drives them to align their business decisions to the goals and needs of society.
What do the Principles for Responsible Banking aim at?
- The Principles for Responsible Banking provide banks the opportunity to connect with society's goals and needs, delivering a framework of principles for integrating sustainable development into the banks' policies and processes, at all approval levels and at strategic, portfolio and management level, as well as at transaction level, which affects the entire clientele and the whole range of banks’ activities.
For the banking sector:
- The Principles help align banks' business objectives with social progress and solidarity, help harmonize relationships with society, promote culture, protect the environment and support business activities with environmental and social benefits.
What are the benefits of signing the Principles?
By signing the Principles for Responsible Banking, banks choose to become more responsible, strengthening their social contribution, supported by a globally accepted framework, that drives them to align their business decisions to the goals and needs of society.
Shifting banks' business decision-making criteria constitutes a key goal of the whole endeavor, so that banks can adapt to society's needs, in a changing economic environment, for everybody’s benefit.
Banks boost trust and work with stakeholders with even greater transparency, with investors, customers, employees and their suppliers, thus ensuring a strong competitive advantage.
What will the customers of a bank that has signed the Principles see?
Clients and customers will acknowledge and be able to choose a bank that:
- Strengthens employability and supports businesses that promote the quality of life, with respect to the environment and society.
- Offers products and services that help create an inclusive society that respects and uses natural resources in a sustainable way.