What are the UN Principles for Responsible Banking
Monday, 7 October 2019
In September, 130 banks from 49 countries launched the Principles for Responsible Banking.
These principles, introduced at the United Nations General Assembly, represent a global commitment by the participating banks to be transparent and clear about how their products and services create value for you and for society as a whole.
The Principles for Responsible Banking are meant to help any bank – whatever its starting point – to align its business strategy with society's goals. The Principles also provide the framework for a sustainable banking system and help the industry demonstrate its own positive contribution to society.
Here are the key principles:
- We will align our business strategy with individuals' needs and society's goals.
- We will set and publish our own goals to increase our positive impact and reduce our negative impact on people and the environment.
- We will work to create a shared prosperity for current and future generations.
- We will proactively consult with and engage our stakeholders, including customers, clients, investors and society.
- We will implement a culture of responsible banking and effective governance within our organization.
- We will be transparent about our impacts and contributions.
BBVA is one of the original 30 global banks to develop and endorse these Principles of Responsible Banking. You can read a full summary of the principles, as well as the signature document, here.
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