Bankinter joins the sector initiative of the United Nations Environment Programme
The Bank has also signed the Principles for Responsible Banking, becoming an active participant in the UNEP FI banking sector initiative launched by the United Nations in line with SDGs and the 2030 Agenda.
Bankinter has joined the specific financial sector initiative of the United Nations Environment Programme. In keeping with its sustainability aims, the Bank has also signed the Principles for Responsible Banking, a framework for sustainable banking that the United Nations is developing through an innovative alliance between banks from all over the world and the banking sector initiative UNEP FI.
The Principles for Responsible Banking define the role and responsibility of the financial sector in building a sustainable future and aligning the industry with the United Nations Sustainable Development Goals and the 2015 Paris Climate Agreement. The Principles also set banks on course to harness new business opportunities in the sustainable development economy.
'We are proud to make this commitment to the United Nations Principles of Responsible Banking because it is a necessary step which, in the case of our Bank, coincides with a long track record in promoting sustainability as a core element across the entire organisation,' said Bankinter chairman Pedro Guerrero. He added, 'Bankinter is committed to playing an active role in driving changes towards more sustainable development.'
Joining the UNEP FIbanking sector initiative reflects the Bank's pledge to support inclusive sustainability by making economic development compatible with human wellbeing and protection of the environment.
In becoming a member of the initiative, Bankinter undertakes to do the following:
Support sustainable development, understood as meeting the needs of the present without compromising the ability of future generations to meet their own needs, by developing responsible and profitable economic practices and tools with leadership from governments and companies.
Manage substainability by preventing, identifying and quantifiying the social and environment impacts of the Bank’s business, in compliance with national and international regulations.
Develop, analyse and update environmental management best practices.
Drive communication about sustainable management by publicising the new social and environmental measures the Bank implements to reduce the possible social and environmental risks derived from its business.
Maintain a fluid dialogue with stakeholders as an essential tool for developing a joint response to social and environmental challenges.
Most of these aspects already form part of Bankinter's sustainability plan, which encompasses three dimensions: economic, social and environmental. It was this three-core approach that led to the name 'Three In a Row' when the plan was first launched, and the aim is to generate value across all three dimensions.