1-Year Anniversary of UN Principles for Responsible Banking

Exactly one year ago, on 22 September 2019, more than 130 banks in the presence of the UN Secretary General signed the first-ever global sustainability framework for the banking industry: the UN Principles for Responsible Banking. Signatories commit to align their business strategy and practice with the Sustainable Development Goals set in 2015 by the United Nations General Assembly and the goals of the Paris Climate Agreement.

One year on, the number of signatories has grown to nearly 200 banks that collectively look after the business of more than 1.6 billion customers worldwide and represent around 40% of global banking assets.

The new framework, which has been designed for banks large or small, and at any stage on their journey to sustainability came not a minute too soon. The COVID-19 pandemic, which took hold just as banks were starting to implement the Principles, has served to highlight how reliant society’s health and prosperity is on healthy ecosystems and resilient economies.

UKRGASBANK and other signatory banks are working together to identify emerging leading practice and to create the tools and processes to put the whole banking sector onto a sustainable footing.

“When it comes to giving our children a better future, it is important that all sustainable-minded banks work together as a team. It is impossible to accomplish such ambitious goal individually, as it requires joint efforts of many fellow-thinkers. UKRGASBANK is proud to be a part of this initiative and hopes that other Ukrainian banks will follow our lead”, said Andrii Kravets, Acting Chairman of the Board.

For reference: the United Nations Environment Finance Initiative (UNEP FI) is a partnership between UNEP and the global financial sector to mobilize private sector finance for sustainable development. UNEP FI works with more than 300 members – banks, insurers, and investors – and over 100 supporting institutions – to help create a financial sector that serves people and planet while delivering positive impacts.