Banking on Climate: a path to Responsible Banking and Sustainability

The seminar “Banking on Climate: a path to Responsible Banking and Sustainability” aims to highlight the points of strength and weakness of the Principles for Responsible Banking, their alignment with the Paris Climate Agreement objectives, and to discuss their potential impact on the transition to a low-carbon economy.

Climate change is likely to modify significantly patterns of capital investments and constitutes both a risk and an opportunity for investors and financial institutions. A framework aligning the decisions of financial institutions with long-term climate goals is taking shape, and carbon-intensive investments will likely face an increased risk of being stranded.

Within this framework, banks must be transparent and clear about how their products and services create value for their customers, clients, investors, as well as the environment. The Principles for Responsible Banking help any bank to align its business strategy with society’s goals through ESG investments. The Principles provide the framework for a sustainable banking system and help the industry to demonstrate how it makes a positive contribution to society. They are accelerating the banking industry’s contribution to achieving society’s goals as expressed in the Sustainable Development Goals and the Paris Climate Agreement. The Principles for Responsible Banking will be publicly launched by the thirty Founding Banks on September 23 in the framework of the New York Climate Week during the United Nations General Assembly.

Scientific organisers:

Isabella Alloisio | FSR Climate, EUI
Simone Siliani | Fondazione Finanza Etica
Pierre Schlosser | Florence School of Banking and Finance, EUI

This event was organised in collaboration with Fondazione Finanza Etica.