In a meeting in Melbourne, the chair of the Global Alliance for Banking Values (GABV) has called on banks to act with “courage” to drive forward the sustainable banking movement.
Peter Blom, who is also CEO of Triodos Bank, said, “What it all comes back to I feel, it’s one: how do we deal with fear? And two: how do we find the courage?
“We want to grow, we see the time needs us, the market needs us.”
The GABV is an alliance of 25 leading sustainable and ethical banks, which have combined assets of around $70 billion (£42.1 billion). Such banks, its research suggests, offer better returns on assets and provide more capital to the real economy than mainstream providers.
Melbourne acted as host for this year’s annual meeting, with delegates from across the world getting together to discuss key challenges within sustainable banking.
The aim of the meeting was to “find global solutions to international problems – and to promote a positive, viable alternative to the current financial system”, according to the GABV.
The ultimate goal is to have a positive impact on the lives of one billion people globally by 2020, using finance and impact investment as a means to drive those positive changes.
GABV membership is exclusive to banks whose assets are valued at more than $50m (£30.1m), are independent, have a commitment to retail customers and who place importance on social banking and the triple bottom line of people, planet and profit.
Damien Walsh, managing director of Australia-based Bankmecu, said that sustainability should be the “core tenant” of the global financial and banking systems.
He said, “At our last conference last year, which was held in Berlin, we released a declaration to shift the industry towards transparency, diversity and sustainability in banking.”
“I think the first takeaway from this year is to continue to look at how we can put that declaration into action and ask what impacts we can have locally and globally”.
The Sustainability Accounting Standards Board (SASB) recently warned banks that failure to factor in sustainability in policies could result in “diminished returns”, saying that the benefits of doing so include long-term value for businesses, investors and customers.
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years