Four years after their promulgation, these principles, promoted by the UN, have established themselves as the most important sustainable banking framework in the world, to which almost 50% of the planet’s financial institutions have adhered.
What are the Principles for Responsible Banking?
With more than 300 signatory banks that represent nearly half of the world’s banking industry, the Principles for Responsible Banking are promoted by the United Nations Environment Programme Finance Initiative (UNEP-FI) and are the most important sustainable banking framework in the world.
The six Principles for Responsible Banking:
Why are they relevant?
Through the six Principles, banks adopt measures to align both our strategy and decision-making and channelling of financing and investment with the Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
These principles also include the Net-Zero Banking Alliance, with a focus on climate.
Banco Sabadell adhered to these Principles as a founding member in 2019 and annually publishes a self-assessment report in its Non-Financial Information Statement (NFIS) that provides the degree of compliance with the six principles (see the latest report at this link).
How we are contributing
In the context of our strategic plan, Sabadell Sustainable Commitment, we continue to advance with various ESG initiatives aligned with these ‘Six Principles for Responsible Banking’. Some examples, grouped by areas of action, are as follows:
Governance and Culture
- We have a Strategy and Sustainability Commission that allows the Board of Directors to monitor and promote the Sustainable Finance Plan
- We have launched a Sustainability Training Program for employees
- A remuneration policy linked to Sustainability has been implemented
Commitment linked to the ‘climate agenda’
- The first goals of the Net-Zero Banking Alliance (NZBA) have been published in four CO2-intensive sectors.
Commitment and ambition in health and financial inclusion
- Goals have been established for the health and financial inclusion areas
Commitment to clients
- We accompany clients in their transition to a more sustainable model to achieve the Paris Agreements
The portfolio of sustainable financing products (and financing solutions) has been expanded.
