Access Bank, 27 other international banks develop global banking principles

Access Bank, in partnership with twenty-seven leading banks across the world, has developed new Principles for Responsible Banking, an initiative launched on 26 November, 2018 at a joint event in Paris – the UN Environment Finance Initiative’s biennial Global Roundtable and the 4th Climate Finance Day – under the patronage of the French President Emmanuel Macron.

The Principles have now been officially endorsed by other global banks including Caixa Bank, Corporación Financiera de Desarrollo (Ccofide), DGB Financial Group, GLS Bank, KB Financial Group, KBC Group, Keystone Bank, Natixis, Qatar National Bank, Standard Chartered PLC, and Zenith Bank PLC.

Speaking after the announcement, the Group Managing Director/Chief Executive Officer of Access Bank, Herbert Wigwe, explained that as a member of the United Nations Environment Programme Finance Initiative (UNEP FI), Sustainability is an important global platform for the bank, especially in achieving sustainable growth through socially-responsible corporate practices.

“At Access Bank, we have stayed committed to ensuring that we place priority on not just being a profitable venture but also one that is deeply concerned about the planet and the people. With specific guidelines that have been developed, applied, and with rigorous monitoring, we can all ensure that we build a sustainable and prosperous future, achieve long-term business and financial benefits while driving urgent action that reduces the risk to the environment,” he said.

The Principles will align the global banking industry with, and scale up its contribution to society’s goals as indicated in the Sustainable Development Goals (SDGs) and the Paris Climate Agreement.

Supporting the Bank’s commitment, the Head of Sustainability, Access Bank, Omobolanle Victor-Laniyan said: “In order to continuously increase on impact through sustainability practices, we will consistently align our corporate strategies with ideas and activities that contribute to our customers’ needs, proactively engage and partner with relevant stakeholders in order to achieve Nigeria’s Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks to which the country remains committed.”

The Principles are now in a six-month global public consultation period until 31 May 2019, with more banks and stakeholders around the world providing feedback and input to guide their further development, and to signal their support by becoming Endorsers of the Principles for Responsible Banking.