In November 2018, the CEOs of 28 major banks from five continents, representing over USD 17 trillion in assets, have launched the Principles for Responsible Banking for global public consultation. With these Principles, banks commit to align their strategy, portfolio and business practice with the Paris Climate Agreement and the Sustainable Development Goals. To do so, signatory banks must set, publish and report on targets addressing their most significant impact.
Thus, the Principles for Responsible Banking are set to become the new standard and benchmark against which to evaluate banks’ sustainability performance and provide shareholders with guidance for stewardship and engagement with the banking sector.
