Sustainalytics Endorses the UN Principles for Responsible Banking
Firm Pledges to Promote the Principles and Encourages Banks to Become Signatories to Meet the Objectives of the UN Sustainable Development Goals and the Paris Climate Agreement
November 26, 2019, Toronto – Sustainalytics, a leading provider of ESG research, ratings and analytics, today announced it has endorsed the UN Principles for Responsible Banking – a framework designed to support a sustainable banking system. The Principles for Responsible Banking is an initiative of the United Nations Environment Program Finance Initiative (UNEP FI) in collaboration with the banking sector. With growing urgency to act on issues such as climate change and social inequality, leading global banks have pledged to support the Principles, which aim to ensure the banking industry is aligned with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement.
Increasingly, banks are offering products oriented towards sustainability solutions to meet the objectives of the SDGs and the Paris Climate Agreement. Sustainalytics works with the world’s leading banks to develop sustainable finance lending frameworks and credible financial instruments, such as sustainability bonds and loans, to allocate capital to a low carbon economy. In addition, Sustainalytics’ ESG ratings provide banks with a credible measure to set sustainability performance targets for sustainability-linked loans. The Principles also align with Sustainalytics’ mission, which is to provide the insights required for investors and companies to make more informed decisions that lead to a more sustainable global economy.
Leveraging the Principles as guidance, banks can embed sustainability considerations throughout their businesses and identify where they can make the most impact in their contributions to a sustainable world. In addition, the Principles position banks to leverage new business opportunities in the rapidly growing field of sustainable finance.
“Leading financial institutions play a critical role in driving product innovation and capital allocation to sustainability initiatives,” said Sustainalytics’ President and Chief Operating Officer, Bob Mann. “To ensure positive momentum around sustainable finance activities, Sustainalytics encourages banks worldwide to become signatories to the Principles for Responsible Banking. We look forward to working with the UNEP FI and banks across the world to advance this initiative.”
To learn more about the Principles for Responsible Banking, please visit here.