21 March 2023
ASB has officially become a signatory of the UN Principles for Responsible Banking - the world’s foremost sustainable banking framework developed through a partnership between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI).
In the Principles, signatories commit to strategically align their business with the goals of the Paris Agreement on Climate Change and the UN Sustainable Development Goals. Signatory banks commit to be ambitious in their sustainability strategies, working to embed sustainability into the heart of their business, while remaining at the cutting-edge of sustainable finance.
Under the Principles, signatory banks identify and measure the environmental and social impact resulting from their business activities, set and implement targets where they have the most significant impact, and regularly report publicly on their progress. The Principles provide a framework for banks to systematically understand the risks and seize the opportunities arising from the transition to more sustainable economies.
Signatories to the Principles take on a leadership role, demonstrating how banking products, services and relationships can support and accelerate the changes necessary to achieve shared prosperity for both current and future generations, building a positive future for both people and planet. These banks also join the world’s largest global banking community focused on sustainable finance, sharing best-practice and working together on practical guidance and pioneering tools of benefit to the entire industry.
ASB General Counsel & Executive General Manager Business Services Stephen Bendall says: "Committing to the Principles is another way we are demonstrating ASB is focused on shaping and financing a sustainable future and making a positive contribution to our society.
"At ASB, we are conscious that we have an important role to play in supporting positive environmental and social outcomes. Along with cutting our own operational emissions by more than 25% in the past two years, we are mindful of the important role we can play by helping to finance the transition to a low-emissions future, with discounted lending to help customers reduce their impact."
More information on the UN Principles for Responsible Banking is available here: https://www.unepfi.org/banking/bankingprinciples/