Helaba Landesbank Hessen-Thüringen has become an official signatory to the UN Principles for Responsible Banking (PRB), a uniform framework for sustainable banking that was developed in a partnership between global banks and the United Nations Environment Programme Finance Initiative (UNEP FI).
The Principles for Responsible Banking are a unique framework for ensuring that signatory banks’ strategy and practice align with the vision society has set out for its future in the Sustainable Development Goals and the Paris Climate Agreement. Signatory banks commit themselves to ambitious sustainability strategies and to embedding sustainability at the heart of their business activities. For Helaba, focusing on these two aspects means the Principles constitute an ideal instrument that aligns with its own ESG goals.
"We are delighted to have become a member of the United Nations Environment Programme Finance Initiative and a signatory to the Principles for Responsible Banking," declares Thomas Groß, Helaba's CEO. "The Principles constitute an effective tool that complements Helaba's commitment to the Paris climate goals that is already firmly enshrined within our ESG framework." he adds.
"We are delighted to have become a member of the United Nations Environment Programme Finance Initiative and a signatory to the Principles for Responsible Banking."
Under the Principles, signatory banks measure the environmental and social impact of their business activities, define targets for areas in which they have the greatest leverage and publicly disclose their progress on a regular basis. The Principles provide a framework for banks to gain a systematic understanding of risks and exploit opportunities arising from the transition to a more sustainable economy.
Signatories to the Principles take a leadership role by demonstrating how banking products and customer relationships can facilitate and accelerate the necessary changes in this transformation. The ultimate goal is to achieve or preserve shared prosperity for current and future generations and to forge a positive future for humankind and the planet. The signatory banks are members of the world's largest banking community for sustainable finance and work together on practical guidelines that will benefit the industry as a whole.
The Principles for Responsible Banking (PRB) are complemented by their affiliated initiative, the Principles for Responsible Investment (PRI), which the Helaba subsidiaries Helaba Invest and Frankfurter Bankgesellschaft have already signed up to (in March 2018 and July 2020, respectively).