Banking sector rallies for climate change

Author: Jimmie Franklin | Published: 24 Sep 2019

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,...