The Spanish Banking Association welcomes the signing yesterday at the United Nations headquarters in New York of the Principles for Responsible Banking developed by various banks, including seven Spanish institutions, in close collaboration with the United Nations Environment Programme Finance Initiative (UNEP-FI).
These Principles establish a global standard for what constitutes a responsible bank and represent the first global guidance for integrating sustainability into all business areas and contributing to building a fairer and more sustainable society for future generations.
By adhering to the Principles for Responsible Banking, banks formalize their commitment to align their business activities with the United Nations Sustainable Development Goals (SDGs), such as eradicating poverty, protecting the planet, and ensuring prosperity for all, and with the Paris Agreement to combat climate change.
Banks that adhere to these principles will find in them a solid starting point for connecting their financial and business objectives with social and environmental benefits for society as a whole.
The Spanish Banking Association was one of the first associations to join the industry initiative and in recent months has promoted several measures to advance it, including the creation of the Center for Responsible and Sustainable Finance in Spain (Finresp) together with the country’s leading financial associations.
For the President of the Spanish Banking Association, José María Roldán, “Spanish banks demonstrate through their adherence to these Principles their commitment to moving toward a new economic model that makes wealth creation sustainable and enduring, and that this wealth can be distributed more fairly and equitably across all countries and social strata.”
The Principles for Responsible Banking currently have the support of 130 banks based in 46 countries, representing more than $47 trillion in combined assets and accounting for one-third of the global banking industry.
