UK Finance has pledged its support for the United Nations Environment Programme Finance Initiative’s ‘Principles for Responsible Banking’.
The six principles show how the banking industry can make a real difference in helping the UN meet its climate targets by setting out a framework for a sustainable banking system.
The six principles are:
- Alignment – consistency between individuals’ needs and society’s goals
- Impact & Target Setting – increasing positive impacts to people and the environment
- Clients & Customers – encouraging sustainable practices
- Stakeholders – proactively engaging
- Governance & Culture – implementing commitment to the principles
- Transparency & Accountability – reviewing and assessing the commitment and performance.