Ecobank Transnational Incorporated has become an official Signatory to the UN Principles for Responsible Banking: a single framework for a sustainable banking industry developed through an innovative partnership between banks worldwide and United Nations Environment Programme’s Finance Initiative.
The six Principles for Responsible Banking1 align the banking sector with the objectives of the UN Sustainable Development Goals and the 2015 Paris Climate Agreement.
They embed sustainability across all business areas and enable banks to identify where they can make the most impact to the sustainable development of economies and the world.
The Principles aim to create a financial sector that serves people and the planet while delivering positive impacts and improving people’s quality of life, without compromising that of future generations.
Ade Ayeyemi, Group CEO of Ecobank said : “By subscribing to the six Principles for Responsible Banking we are publicly declaring that we follow the best-in-class sustainability practices that have been adopted by major global banks.”
The six Principles for Responsible Banking are:
Alignment: We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks.
Impact & Target Setting: We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities, products and services. To this end, we will set and publish targets where we can have the most significant impacts.
Clients & Customers: We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
Stakeholders: We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals.
Governance & Culture: We will implement our commitment to these Principles through effective governance and a culture of responsible banking.
Transparency & Accountability: We will periodically review our individual and collective implementation of these Principles and be transparent about and accountable for our positive and negative impacts and our contribution to society’s goals.