Innovation founding signatory of the Principles of Responsible Banking
Innovation Credit Union became one of the Founding Signatories of the Principles for Responsible Banking today, committing to strategically align its business with the Sustainable Development Goals.
By signing the Principles for Responsible Banking, Innovation joins a coalition of 130 banks worldwide, representing over 47 trillion USD in assets, in committing to taking on a crucial role in helping to achieve a sustainable future.
Taking place at the start of the UN General Assembly, the official launch of the Principles for Responsible Banking marked the beginning of the most significant partnership to date between the global banking industry and the UN. “The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy. The Principles create the accountability that can realize responsibility, and the ambition that can drive action.” said UN Secretary-General Antonio Guterres at the launch event, attended by the 130 Founding Signatories and over 45 of their CEOs.
As expressed in the Principles for Responsible Banking, Innovation is convinced that “only in an inclusive society founded on human dignity, equality and the sustainable use of natural resources can our members thrive”.
By signing up to the Principles, Innovation commits to “using our products, services and relationships to support and accelerate the fundamental changes in our economies and lifestyles necessary to achieve shared prosperity for both current and future generations.”
The Principles for Responsible Banking are supported by a strong implementation and accountability framework. By signing them, Innovation Credit Union commits to being transparent on both its positive and negative impact on people and planet. Innovation will focus where it has the greatest impact – in its core business – and set, publish and implement ambitious targets to scale up positive and address any negative impacts in line with global and local goals.
“Responsible Banking is core to our Purpose,” says Innovation CEO Dan Johnson. “We are committed to doing the right thing with our profits for our members and communities to ensure social change. The principles for responsible banking under the UNEP Finance Initiative are principles Innovation Credit Union not only believes in but works toward achieving daily.”
The Principles for Responsible Banking will provide Innovation with an effective framework to systematically identify and seize new business opportunities created by the emerging sustainable development economy, while at the same time enabling the credit union to effectively identify and address related risks.
About the Principles for Responsible Banking
The Principles for Responsible Banking were developed by a core group of 30 Founding Banks through an innovative global partnership between banks and the UNEP Finance Initiative (UNEP FI). UNEP FI is the UN-private sector collaboration that includes membership of more than 250 finance institutions around the globe. Please see the Principles for Responsible Banking and their Framework Documents.
See a complete list of all banks/credit unions that have become the Founding Signatories of the Principles for Responsible Banking today and quotes from their CEOs.
For more information, including infographics and videos, please see the UNEP’s website.
You can also reference the official UN press release on the Official Signing and Global Launch of the Principles for Responsible Banking.