“The global banking industry is stepping up to the sustainability challenge,” said Satya Tripathi of India, UN assistant secretary-general, UN Environment. “I’m optimistic we’ll see a realignment of business practice – one that embraces the fact that green and socially responsible business is the best business.”
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Eleven of the world’s most influential banks have committed to work with the UN Environment Finance Initiative (UNEP FI) to promote climate transparency in financial markets. The banks will develop analytical tools to strengthen their assessment and disclosure of climate-related risks and opportunities.
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Nineteen global banks and investors, worth a total of US$6.6 trillion in assets, have agreed on a set of standards for financing sustainable development framed as the first-ever Principles for Positive Impact Finance.
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