Tinkoff Group joins the United Nations Environment Programme Finance Initiative

Tuesday 4 May 2021 12:55 CET | News

Russia-based Tinkoff Group has joined the United Nations Environment Programme Finance Initiative (UNEP FI).

This is the largest UN partnership with the finance industry or the worldwide community of nearly 400 banks, insurers and investors. More than 220 banks have now signed the Principles for Responsible Banking, a framework for ensuring that signatory banks’ strategy and practice align with the vision society has set out for its future in the Sustainable Development Goals and the Paris Climate Agreement.

The Principles for Responsible Banking provide the framework for banks to: 

  • Align global environmental, social and corporate governance efforts at management level. 

  • Lower the negative environmental impact of their products and services in order to prevent climate change and limit global warming. 

  • Work with customers responsibly, which includes increasing the financial literacy of retail customers and encouraging corporate customers to pursue sustainable economic activity.

  • Incorporate sustainable development in investor relations in order to achieve broader societal goals.

  • Create a corporate culture in line with the sustainable development and responsible banking principles.

  • Act transparently– review business activity and ensure that reports outlining the positive and negative impact of the bank’s operations, as well as its sustainable development efforts, are publicly available.

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Keywords: digital banking, online banking, banks, partnership
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Russian Federation
This article is part of category

Banking & Fintech