Raiffeisen Bank joins the global Principles for Responsible Banking
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Raiffeisen Bank joins the global Principles for Responsible Banking 02 February 2021Austria Reporter: Maddie Saghir
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Raiffeisen Bank International (RBI) has become an official Signatory of the United Nations (UN) Principles for Responsible Banking.
The Principles for Responsible Banking works as a single framework for a sustainable banking industry that was developed through a partnership between banks worldwide and the UN Environment’s Finance Initiative.
The framework includes key objectives such as clients and customers creating shared prosperity that benefits society; stakeholders: collaborating with the most relevant stakeholders to achieve the goals.
It also includes governance and target setting to implement the commitments and attain the objectives.
The Principles for Responsible Banking set out the banking industry’s role and responsibility and in aligning the banking sector with the objectives of the UN Sustainable Development Goals and the 2015 Paris Climate Agreement.
The framework also enables the bank to embed sustainability across all its business areas, and to identify where it has the potential to make the most impact in its contributions to a sustainable world.
In addition, RBI says it also positions a bank to leverage new business opportunities with the emergence of the sustainable development economy.
Johann Strobl, CEO of RBI, comments: “Our goal is to offer sustainable financial products and services to support our clients in their transformation towards a sustainable future and therefore to make also a positive contribution to society.”
“We see responsible banking as an important element for our future business growth. This is also in line with our Vision 2025 to become the most recommended financial services group in those Central and Eastern Europe markets in which we operate,” Strobl adds.
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