The UN has established its Principles for Responsible Banking to ensure that the strategies and practices of signatory banks align with its sustainable development goals and the Paris climate agreement.
The six principles include a commitment to reducing negative impacts on the environment and to encouraging sustainable practices.
Signatory banks are required to assess the most significant impacts on societies, economies, and the environment of their products and services, to set and hit “robust” targets in those areas, and to report annually and publicly on their progress in implementing the principles.