- The Bank also incorporates Sustainable Development Goals (SDGs) into its sustainability strategy.
Banco Sabadell today became one of the Founding Signatories of the Principles for Responsible Banking, committing to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change.
By signing the Principles for Responsible Banking, Banco Sabadell joins a coalition of 130 banks worldwide, representing over USD 47 trillion in assets, in committing to taking on a crucial role in helping to achieve a sustainable future.
Taking place at the start of the UN General Assembly, the official launch of the Principles for Responsible Banking marked the beginning of the most significant partnership to date between the global banking industry and the UN. “The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy. The Principles create the accountability that can realize responsibility, and the ambition that can drive action.” said UN Secretary-General Antonio Guterres at the launch event, attended by the 130 Founding Signatories and over 45 of their CEOs.
As expressed in the Principles for Responsible Banking, Banco Sabadell is convinced that “only in an inclusive society founded on human dignity, equality and the sustainable use of natural resources can our clients, customers and businesses thrive”.
By signing up to the Principles, we commit to “using our products, services and relationships to support and accelerate the fundamental changes in our economies and lifestyles necessary to achieve shared prosperity for both current and future generations”.
“A banking industry that plans for the risks associated with climate change and other environmental challenges can not only drive the transition to low-carbon and climate-resilient economies, it can benefit from it,” said Inger Andersen, Executive Director of the United Nations Environment Programme (UNEP). “When the financial system shifts its capital away from resource-hungry, brown investments to those that back nature as solution, everybody wins in the long-term.”
The Principles for Responsible Banking are supported by a strong implementation and accountability framework. By signing them, Banco Sabadell commits to being transparent on both our positive and negative impact on people and planet. Banco Sabadell will focus where it has the greatest impact – in its core business – and set, publish and implement ambitious targets to scale up positive and address any negative impacts in line with global and local goals.
“Since 1881, Banco Sabadell and each of its current and former members have built a system of values, a way of doing things, which has always included its commitment to society. Today, this commitment has been further strengthened, as the bank is a signatory of the Principles for Responsible Banking. In Banco Sabadell we work to minimise the environmental impacts of the processes, installations and services that are inherent in our activity, through responsible energy management, renewable energy sources and the use of sustainable buildings. In terms of our business, we contribute to the development of a sustainable energy model by financing and investing in renewable energy, issuing sustainable bonds and making use of new green transport schemes. We strive to come up with measures that will allow us to be more efficient and achieve prosperity that can be enjoyed by current and future generations.” Said Jaime Guardiola, Chief Executive Officer for Banco Sabadell.
The Principles for Responsible Banking will provide Banco Sabadell with an effective framework to systematically identify and seize new business opportunities created by the emerging sustainable development economy, while at the same time enabling the bank to effectively identify and address related risks.
About the Principles for Responsible Banking
The Principles for Responsible Banking were developed by a core group of 30 Founding Banks through an innovative global partnership between banks and the UNEP Finance Initiative (UNEP FI). UNEP FI is the UN-private sector collaboration that includes membership of more than 250 finance institutions around the globe.
Please see the Principles for Responsible Banking and their Framework Documents here.
For a complete list of all banks that have become the Founding Signatories of the Principles for Responsible Banking today and quotes from their CEOs please click here.
For more information, including infographics and videos, please visit https://www.unepfi.org/banking/bankingprinciples/