BNP Paribas supports the United Nations Principles for Responsible Banking

An ambition to drive progress 

Banks play a key role in our societies. As financial intermediaries, they participate in the development of sustainable economies and provide people with the means to build a better future. However, they must also demonstrate greater transparency and clarity around the ways in which their products and services create value. 

The Principles for Responsible Banking aim to formalize these new responsibilities. 

Six fundamental principles 

The provisional charter, established in November 2018, is structured around six principles. These principles affirm the willingness of signatory banks to assume a leadership role in environmental, social and economic changes. 

Ambitious objectives for the banking sector

These Principles are ambitious. They aim to define a global framework for a sustainable global banking system. They specify the role and the responsibilities of the sector in the development of a sustainable future, and align the banking sector with the United Nations’ Sustainable Development Goals and the Paris Climate Agreement. 

These Principles aim to establish the first global norms on banking responsibility, and to ensure value creation for clients, shareholders and society in general. When banks sign the Principles in September 2019, they will commit to publicly acknowledging their social, environmental and economic impacts. They will agree to public objectives aiming to reduce their most significant negative impacts and to reinforce their positive impacts.

The global public consultation is now open

On November 26th, 2018, during the fourth edition of Climate Finance Day and the Global Roundtable, UNEP FI launched a global consultation that aims to establish Principles for Responsible Banking that can be applied throughout the banking sector. In September 2019, banks participating in the consultation will sign a final charter.   

BNP Paribas among 28 committed banks across the world

Twenty-eight banks are already involved in launching the Principles. Together, these represent more than 170 trillion USD in assets. They are present on five continents and in more than 20 countries: Access Bank (Nigeria), Arab African International Bank—AAIB (Egypt), Banco Pichincha (Ecuador), Banorte (Mexico), Barclays (United States and United Kingdom), BBVA (Spain), BNP Paribas (France), Bradesco (Brazil), Commercial International Bank—CIB (Egypt), CIMB Bank (Malaysia), First Rand (South Africa), Garanti Bank (Turkey), Golomt Bank (Mongolia), Hana Financial Group (South Korea), Industrial and Commercial Bank of China—ICBC (China), ING (The Netherlands), Kenya Commercial Bank Group—KCB (Kenya), Land Bank (South Africa), National Australia Bank—NAB (Australia), Nordea (Sweden), Piraeus Bank (Greece), Santander (Spain), Shinhan Financial Group (South Korea), Société Générale (France), Standard Bank (South Africa), Triodos Bank (Netherlands), Westpac (Australia), YES Bank (India). 

Photos: header ©Francois Roux // ©EcaterinaLeonte // ©kwasny221