Postbank has once again strengthened its position of a socially responsible company by joining the institutions, which have signed the Principles for Responsible Banking (PRB) of the UN Environment Programme Finance Initiative (UNEP FI). The key step has turned Postbank into Bulgaria’s only financial institution, which decided to follow the single framework for sustainable development in the banking sector in all aspects of its activities. The framework is developed through an innovative partnership between leading global bank institutions and the UNEP FI.
"Becoming a Signatory of the global Principles for Responsible Banking is a really important success for us because, this way, we receive recognition that we apply the global standards for sustainable development of the financial sector. Our bank follows a strict policy for tracking the environmental risk in corporate lending, thus encouraging our clients to implement corporate responsibility practices in the companies they establish and run. Corporate sustainability and responsibility is a value acknowledged by all markets. It is a high evaluation of the business vision of a company and makes it stand out. We are glad we use local activities to help achieve global goals that are important for the entire community,” Postbank commented.
The PRBs unite over 190 banks from various countries, including leading global financial institutions such as Santander, Nordea, ING Bank, Commerzbank, Citi and Deutsche Bank, or over one-third of the global banking industry. The PRB determine the role and responsibility of the banking sector in shaping a sustainable future and in aligning the banking sector with the objectives of the UN Sustainable Development Goals and the 2015 Paris Climate Agreement. Thus, the banking community contributes to the sustainable development of the business sector and the community.
Postbank joined the UNEP FI in 2013 and the UN Global Compact Network Bulgaria in 2017, thus contributing to the compliance with the Bulgarian environmental law and further expanding its initiatives in support of the community and the environment. Nearly 30 years of sustainable development investments are a main component of the financial institution’s activities.
More information about the PRBs is available here.
***The UN Environment Programme was established in 1972 in Stockholm and has a mandate to encourage economic growth compatible with the protection of the environment. The concept of the UNEP Finance Initiative was launched in 1991 when a small group of commercial banks joined forces with UNEP to catalyse the banking industry’s ideas. The initiative facilitates the dialogue between a broad range of financial institutions, including commercial banks, investment banks, venture capitalists, asset managers, and multi-lateral development banks and agencies, and helps achieve balance between economic development, environmental protection and sustainable development. A secondary objective of the UN is to foster private sector investment in environmentally sound technologies and services.