{"id":45497,"date":"2019-10-31T15:17:15","date_gmt":"2019-10-31T13:17:15","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=45497"},"modified":"2019-10-31T15:17:15","modified_gmt":"2019-10-31T13:17:15","slug":"al-baraka-banking-group-1st-islamic-west-asia-bank-to-ink-uns-new-principles-for-responsible-banking","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/al-baraka-banking-group-1st-islamic-west-asia-bank-to-ink-uns-new-principles-for-responsible-banking\/","title":{"rendered":"Al Baraka Banking Group 1st Islamic, West Asia bank to ink UN&#8217;s new Principles for Responsible Banking"},"content":{"rendered":"<p style=\"direction: ltr;\">Al Baraka Banking Group becomes the first bank in the West Asia region to officially sign the new Principles for Responsible Banking, which were developed through an innovative global partnership between banks and the United Nations Environment Program Finance Initiative (UNEP FI).\u00a0 By committing to these principles, Al Baraka is also the first in the Islamic banking sector to do so.<\/p>\n<p style=\"direction: ltr;\">Launched last month ahead of the UN Climate Action Summit in New York,\u00a0\u00a0<a href=\"https:\/\/www.unenvironment.org\/news-and-stories\/press-release\/130-banks-holding-usd-47-trillion-assets-commit-climate-action-and\" target=\"_blank\" rel=\"noopener noreferrer\">the Principles for Responsible Banking<\/a>\u00a0provide the framework for a sustainable banking system and establish best practices that will assist banks in creating and demonstrating positive impact within their communities and society at large.<\/p>\n<p style=\"direction: ltr;\">\u201cJoining the Principles for Responsible Banking shows the commitment from Al Baraka Banking Group to climate action and sustainability for the people of Bahrain, the region, and further\u201d said\u00a0 Sami Dimassi, UNEP regional director for West Asia. \u201cThe first bank from the region to commit to the Principles, the bank will focus where it has the greatest impact \u2014 in its core business \u2014 and set, publish and implement ambitious targets to promote positive impact in line with global and local goals.\u201d<\/p>\n<p style=\"direction: ltr;\">Keeping with the bank\u2019s goals, Al Baraka pledged $197 million for 2019-2020 in support of renewable energy and energy efficiency projects in the bank\u2019s operating countries, including Jordan, Bahrain, Syria, Iraq, Lebanon and Saudi Arabia from the West Asia region.<\/p>\n<p style=\"direction: ltr;\">\u201cWe are very excited see the Principles of Responsible Banking being adopted globally.\u00a0 Our huge thanks and congratulations to the UNEP\/UNEP-FI teams for their dedication and leadership for articulating the Principles for the global banking industry\u201d said Adnan Ahmed Yousif, Al Baraka Banking Group\u2019s president and chief executive officer.<\/p>\n<p style=\"direction: ltr;\">\u201cWe are also excited about the Principles as they are aligned with our commitment to sustainable banking and finance.\u00a0 We launched the Al Baraka Goals (2016-2020) in November 2015 precisely for the reasons articulated in the Principles and we are absolutely delighted to see the trend scaling up in the banking industry\u201d he added.<\/p>\n<p style=\"direction: ltr;\">Al Baraka Banking Group\u2019s history with the UNEP regional office in West Asia, stems from a series of productive engagements that saw the bank enter a strategic partnership through a memorandum of understanding in May 2019.<\/p>\n<p style=\"direction: ltr;\">UN Environment Program urges other banks in the region to align with the Principles for Responsible Banking and work with the UNEP Regional office for West Asia to achieve the Sustainable Development Goals and the Paris Climate Agreement.<\/p>\n<p style=\"direction: ltr;\">\n","protected":false},"excerpt":{"rendered":"<p>Al Baraka Banking Group becomes the first bank in the West Asia region to officially sign the new Principles for Responsible Banking, which were developed through an innovative global partnership between banks and the United Nations Environment Program Finance Initiative (UNEP FI).\u00a0 By committing to these principles, Al Baraka is also the first in the [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":45507,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6261,984,6030],"tags":[7339,6402,6944,6251],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Al Baraka Banking Group 1st Islamic, West Asia bank to ink UN&#039;s new Principles for Responsible Banking - Csr Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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