The Bank of Palestine Group joined the principles of responsible banking, affiliated with the United Nations Environment Program Finance Initiative (UNEP FI), as a single framework for a sustainable banking industry, through a partnership between banks around the world (www.unepfi.org/responsiblebanking). ).
The Responsible Banking Principles of the United Nations Environment Program Finance Initiative (UNEP FI) are the overarching framework that ensures the extent to which banks’ strategy and practices are consistent with the vision set by the United Nations Sustainable Development Goals and the Paris Climate Agreement, so that banks that have signed the principles are committed to implementing their own sustainability plans and strategies. In order to ensure the application of sustainability standards within its practices, it will be at the forefront of sustainable financing institutions.
With the signing of the Bank of Palestine Group on the Principles of Responsible Banking of the United Nations Environment Program Finance Initiative, the Bank of Palestine, along with the Arab Islamic Bank, effectively joins about 50% of global banks that have signed these principles, and are committed to measuring and disclosing the environmental and social impact resulting from their commercial activities. The bank, as one of the signatory parties, will commit to implementing the objectives and key performance indicators, in order to reduce negative environmental impacts and encourage environmentally and climate-friendly projects. This membership will also contribute to the Bank of Palestine Group joining more than 300 partner banks around the world, in exchanging best practices and providing common visions on the principles of responsible banking.
Hashem Shawa, Chairman of the Board of Directors of the Bank of Palestine Group, expressed his pride in the Bank’s joining as the first Palestinian banking institution to sign the principles of responsible banking for the United Nations Environment Program Financing Initiative (UNEP FI), adding, “This commitment depends on the Bank’s sustainability strategy, which confirms our serious approach to implementing Sustainability practices at the Bank, along with our keenness to raise the level of environmental awareness in Palestine.” Shawa stated that despite Palestine facing a number of political and economic challenges, we remain committed to our values at the Bank of Palestine Group, so we are happy to join the partner banks with which we share a commitment to values and principles. Global Responsible Banking
Source: Maan News Agency