{"id":71548,"date":"2021-10-16T11:40:35","date_gmt":"2021-10-16T09:40:35","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=71548"},"modified":"2021-10-16T11:40:35","modified_gmt":"2021-10-16T09:40:35","slug":"report-94-of-banks-identify-sustainability-as-a-strategic-priority","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/report-94-of-banks-identify-sustainability-as-a-strategic-priority\/","title":{"rendered":"Report: 94% of banks identify sustainability as a strategic priority"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left;\">A new <a href=\"https:\/\/www.unepfi.org\/prb-collective-progress-report-2021\/\">report<\/a> summarizing the progress made by banks who have signed the <em>Principles for Responsible Banking said that <\/em>94% of banks identify sustainability as a strategic priority for their organization, 93% are analyzing the environmental and social impacts of their activities, and 30% are setting targets, with a strong collective focus on climate and financial inclusion.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The report finds early indications of impact on the real economy, with $ 2.3 trillion of sustainable finance being mobilized.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The report found that signatories are showing early signs of collective progress and building the foundations to transform sustainable banking; however, momentum needs to accelerate in some key areas.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Published by the <a href=\"https:\/\/www.csregypt.com\/en\/unep-to-engage-dubai-expo-visitors-in-world-wildlife-day-celebration\/\">UN Environment Program<\/a> Finance Initiative (UNEP FI), the report sets the first baseline to measure future progress, marking 1.5 years of the Principles\u2019 initial 4-year time horizon. It includes an independent view from the Civil Society Advisory Body, a 12-member body mandated to support signatory banks to implement the Principles and assess progress.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><strong>\u201c<\/strong>The Principles for Responsible Banking are a crucial framework for the global banking industry to respond to, drive and benefit from a sustainable development economy.\u201d commented Inger Andersen, Executive Director of UNEP. \u201cSustainable finance is about creating prosperity for this and future generations, and this report shows early signs of progress made worldwide, while outlining steps to further accelerate action in critical areas.\u201d<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The UNEP FI banking board and secretariat say continued and accelerated action is needed from signatories. Suggested areas of improvement include enhancing the availability and quality of data, setting targets in line with improved impact analysis, and increasing action on critical sustainability issues such as biodiversity loss, equality and human rights.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cThe Principles are a four-year journey of unprecedented scale and scope, where banks of all sizes from across the world have together been developing the tools and guidance to support their effective implementation,\u201d said Siobhan Toohill, co-Chair of the UNEP FI Banking Board and Group Head of Sustainability at Westpac.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cWe must not only continue to build on the momentum evidenced in the first 18 months, but accelerate it to deliver on our commitments.\u201d<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Insights from the report will be used by the UNEP FI banking board and secretariat to further develop the work program to support banks in scaling up their progress and addressing these key challenges. Under the framework, banks must publish their individual progress within 18 months of signing the Principles, and annually thereafter. The next progress report at a collective level is scheduled for 2023.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">\n","protected":false},"excerpt":{"rendered":"<p>A new report summarizing the progress made by banks who have signed the Principles for Responsible Banking said that 94% of banks identify sustainability as a strategic priority for their organization, 93% are analyzing the environmental and social impacts of their activities, and 30% are setting targets, with a strong collective focus on climate and [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":71551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030],"tags":[6945,7234,6336,11484],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Report: 94% of banks identify sustainability as a strategic priority - Csr Egypt<\/title>\n<meta name=\"description\" content=\"A new report said 94% of banks identify sustainability as a strategic priority for their organization, 93% analyzing the environmental, social impacts\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/report-94-of-banks-identify-sustainability-as-a-strategic-priority\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Report: 94% of banks identify sustainability as a strategic priority - 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