As society’s expectations change, banks must be transparent and clear about how their products and services create value for their customers, clients, investors and society. The Principles for Responsible Banking, which were recently released by 130 banks from 49 countries (representing US$ 47 trillion in assets), help any bank – whatever its starting point – to align its business strategy with society’s goals. Additionally we would like to congratulate our members ING and BNP Paribas for helping to lead this initiative.

The six Principles (alignment, impact and target setting, clients and customers, stakeholders, governance and culture, and transparency and accountability) 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 Signature Document contains the six Principles for Responsible Banking and their Preamble. Additionally, there are documents outlining The Key Steps to be Implemented by Signatories and The Reporting and Self-Assessment Template as well as a Guidance Document that supports banks in their implementation of the Principles.

Read more about this exciting initiative here.