Principles for Responsible Banking: ALL THE DETAILS

https://www.unepfi.org/banking/bankingprinciples/

What are the Principles for Responsible Banking designed to achieve?

As society’s expectations change, banks must be transparent and clear about how their products and services create value for their customers, clients, investors, as well as society. The Principles for Responsible Banking help any bank – whatever its starting point – to align its business strategy with society’s goals.

The Principles provide the framework for a sustainable banking system, and help the industry to demonstrate how it makes a positive contribution to society.

They are accelerating the banking industry’s contribution to achieving society’s goals as expressed in the Sustainable Development Goals and the Paris Climate Agreement.

The Principles for Responsible Banking were launched by 130 banks from 49 countries, representing more than USD47 trillion in assets, on 22 and 23 September 2019 in New York City, during the annual United Nations General Assembly. More than 45 CEOs together with the UN Secretary-General attended the launch ceremony.

The Principles for Responsible Banking Framework Documents:

• The Principles Signature Document, containing the six Principles for Responsible Banking and their Preamble. If your bank would like to become a Signatory of the Principles for Responsible Banking, this document needs to be signed by your CEO and sent to simone.dettling@un.org;

• The Key Steps to be Implemented by Signatories, detailing key steps regarding impact analysis, target setting & implementation, and accountability your bank needs to take to ensure the effective implementation of the Principles for Responsible Banking;

• The Reporting and Self-Assessment Template, which guides banks’ transparency on their progress in implementing the Principles for Responsible Banking and on their impacts.

The Guidance Document, which will support banks in their implementation of the Principles and point to relevant resources, tools, frameworks and good practices will be published on 23 September 2019.