Some 13 years after the founding of the Principles for
Responsible Investment (PRI), the UN has launched
banking’s own version, with the Principles for
Responsible Banking (PRB). This is the latest move suggesting
banks are taking seriously the need for a more consolidated way
of tackling climate change.
Trust in banks is still low following the financial crash in
2008, and the move to establish a voluntary body for this issue
will be seen by many as a way of winning back that trust.
"The PRB provides a common framework to support the banking
industry as a whole in better contributing to sustainable
development and making a positive contribution to society in
the future," said Jeanette Fangel Løgstrup,...