This archive report was first published on 23 September 2019.
On the eve of the UN General Assembly, 130 banks worldwide, representing over USD 47 trillion in assets, have launched the Principles for Responsible Banking, a significant partnership between the global banking industry and the UN.
Kenya Commercial Bank (KCB Group) is among the Founding Signatories, committing to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change.
By signing the Principles, KCB Group joins a coalition of banks in taking on a crucial role in helping to achieve a sustainable future.
UN Secretary-General Antonio Guterres said, "The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy."
KCB Group Chief Operating Officer, Samuel Makome, added, "The official launch of Principles for Responsible Banking marks a major milestone in the global banking industry of our commitment to implement Sustainable Development Goals and Paris Climate Change into our strategic objectives."
Meanwhile, the world's largest investors have committed to decarbonize the global economy, with over USD 2.4 trillion in investments committed to carbon-neutral investment portfolios by 2050.
The Net-Zero Asset Owner Alliance, initiated by Allianz, Caisse des Dépôts, La Caisse de dépôt et placement du Québec (CDPQ), Folksam Group, PensionDanmark and Swiss Re in 2019, has since grown to include Alecta, AMF, CalPERS, Nordea Life and Pension, Storebrand, and Zurich as founding members.
