BUSINESS

Piraeus in UN-backed bank principles initiative

TAGS: Banking

On Monday at the Global Roundtable in Paris, the United Nations Environment Finance Initiative (UNEP FI) and 28 banks from around the world launched the Principles for Responsible Banking for global public consultation.

Together the banks represent over $17 trillion in combined assets, and CEOs from 12 of the banks attended the launch.

Piraeus Bank is the only Greek bank among the 28 which actively contributes to the development of the Principles.

Piraeus Bank chief executive officer Christos Megalou participated in Monday’s international meeting, declaring his support for the new Principles along with the CEOs of the other 27 banks.

The Principles are entering a six-month global public consultation period before they will be signed by banks from around the world at the United Nations General Assembly in New York in September 2019.

The Principles will define the banking industry’s role and responsibilities in shaping a sustainable future.

By committing to the new framework, banks will be aligning their business with the objectives of the Sustainable Development Goals (SDGs) and the Paris Climate Agreement.

[AP]

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