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Tracking the Principles for Responsible Banking
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By: BankTrack

Contact:

prb@banktrack.org


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Tracking the Principles for Responsible Banking. Photo: BankTrack

The Principles for Responsible Banking (PRBs) are an initiative of the United Nations Environment Programme Finance Initiative (UNEP FI) and 30 founding banks. They were launched in draft format in November 2018 as a new initiative designed to promote responsible banking and, following a consultation period, have become fully operational from September 22 2019 onwards.

The six Principles encourage banks to align their operations at "strategic, portfolio, and transactional levels" with prevailing social and environmental commitments, particularly as expressed in the Paris Climate Agreement and the United Nations' Sustainable Development Goals (SDGs).

Background

The PRBs aspire to define what it takes to be a responsible bank now and in the future and to set a global standard for responsibility. The PRBs aim to provide a framework through which banks can align their strategy, portfolio, and business practices with society's social and environmental goals.

PRB-signatory banks will be required to assess their positive and negative social, economic, and environmental impacts and, based on these impacts, to set and publish targets and in accordance with the ambitions of the Paris Climate Agreement and the SDGs. Additionally the PRBs include commitments on stakeholder engagement, accountability, and transparency. Banks that continue to fail to meet their targets or fail to adhere to the PRBs will lose their signatory status. The first deadline for banks to report on their progress is 18 months after signing.

BankTrack's role

While acknowledging the PRBs as a "welcome and long overdue commitment from banks to fully align their businesses with society's needs", BankTrack at the launch of the draft Principles in 2018 called for UNEP-FI to further strengthen the framework. BankTrack also coordinated an NGO response to the consultation process. With the final version of the Principles in place since July 2019, our attention shifted to mapping the implementation plans of the PRB founding banks. BankTrack, together with work partners, also published a briefing at the launch date of the Principles, September 22 2019.

During the first year of the Principles for Responsible Banking, BankTrack and partners called on the PRB initiative for more transparency, and published a Call to Action on the Principles for Responsible Banking to end climate-destructive financing. This publication showed that just 20 PRB banks were responsible for US$1.25 trillion in climate-destructive financing since the Paris Agreement.

With the first reporting deadlines for PRB banks coming up, BankTrack continues to monitor the implementation of the Principles for Responsible Banking through engagement with UNEP FI and PRB banks.

PRB banks

BankTrack is tracking the growing list of PRB signatories, along with their reporting deadlines (and reports where available), here.


Top Publications

A Call to Action on the Principles for Responsible Banking: End Climate-Destructive Financing Now
2020-10-20 00:00:00 | BankTrack, Rainforest Action Network, and others
Civil Society Statement on the new Principles for Responsible Banking
2019-09-22 00:00:00 | BankTrack and others

Further sections

Collective Commitment to Climate Action (CCCA)

2021-02-10 15:14:27

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Banco Galicia Argentina

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Banco Mercantil del Norte (Banorte) Mexico

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Banco Sabadell Spain

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Banco Santander Brazil

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Bankia Spain

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Bankinter Spain

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Banque Misr Egypt

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Barclays United Kingdom

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BBVA Spain

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Belfius Belgium

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BMCE Bank of Africa Morocco

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BNP Paribas France

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BPCE France

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BTG Pactual Brazil

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CaixaBank Spain

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Citi United States

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Commercial International Bank (CIB) Egypt

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Commerzbank Germany

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Commonwealth Bank Australia

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Crédit Agricole France

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Crédit Mutuel France

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Credit Suisse Switzerland

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CTBC Bank Taiwan, Republic of China

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Danske Bank Denmark

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De Volksbank Netherlands

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Desjardins Group Canada

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Deutsche Bank Germany

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DNB Norway

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DZ Bank Germany

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Ecobank Togo

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FirstRand South Africa

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Garanti BBVA Turkey

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GLS Bank Germany

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Industrial and Commercial Bank of China (ICBC) China

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Industrial Bank China

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ING Netherlands

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Intesa Sanpaolo Italy

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Itaú-Unibanco Brazil

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Jyske Bank Denmark

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KB Financial Group South Korea

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KBC Belgium

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Lloyds Banking Group United Kingdom

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Mauritius Commercial Bank Mauritius

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Mitsubishi UFJ Financial Group (MUFG) Japan

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Mizuho Financial Group Japan

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National Australia Bank (NAB) Australia

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Natixis France

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NatWest Group United Kingdom

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Nordea Finland

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Nykredit Bank Denmark

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OP Financial Group Finland

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Rabobank Netherlands

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Raiffeisen Bank International Austria

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Sberbank Russian Federation

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Shinhan Financial Group South Korea

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Skandinaviska Enskilda Banken (SEB) Sweden

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Société Générale France

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SpareBank 1 SR-Bank Norway

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Standard Bank South Africa

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Standard Chartered United Kingdom

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Sumitomo Mitsui Banking Corporation (SMBC) Japan

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Sumitomo Mitsui Trust Holdings Japan

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Svenska Handelsbanken Sweden

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Swedbank Sweden

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Sydbank Denmark

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The co-operative bank United Kingdom

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Triodos Bank Netherlands

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UBS Switzerland

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UniCredit Italy

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Westpac Australia

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Zenith Bank Nigeria

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CIMB Malaysia

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Hua Xia Bank China

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News

| |
Type:
Year:
blog
external news
our news

New bank climate initiative fails to grasp urgent need to end finance for fossil fuels

Civil society statement on the launch of the Net-Zero Banking Alliance
2021-04-22 | Nijmegen | BankTrack, urgewald, Amazon Watch, Bank on our Future, Indigenous Environmental Network, Market Forces, Positive Money, Rainforest Action Network, Reclaim Finance, ShareAction, Sierra Club
blog
external news
our news

SASB, CDP, Ceres, 2ii and ShareAction vie to be part of oversight body for Principles of Responsible Banking

But Dutch NGO raises concerns about banks’ role in selection process
2021-02-10 | Responsible Investor
blog
external news
our news

A call to action on the Principles for Responsible Banking: End climate-destructive financing now

2020-10-20 | BankTrack, Rainforest Action Network, and partners
blog
external news
our news

What have the UN’s Principles for Responsible Banking accomplished in their first year?

2020-09-23 | Financial Times
blog
external news
our news

Principles for Responsible Banking no obstacle to finance climate destruction

Twenty PRB banks provided over US$1.25 trillion in fossil fuel financing since Paris Agreement
2020-09-22 | Nijmegen | BankTrack, Rainforest Action Network
blog
external news
our news

Unite or die: the UN Principles for Responsible Banking one year on

2020-09-21 | Climate Risk Review
blog
external news
our news

The Principles for Responsible Banking: One year on

2020-09-16 | Environmental Finance
blog
external news
our news

Principles for Responsible Banking members sign off on delisting mechanism

2020-07-15 | Responsible Investor
blog
external news
our news

Standard Bank board: fossil fuel ties brought to light

Shareholders asked to oust climate-conflicted directors at AGM largest African bank
2020-06-08 | Just Share
blog
external news
our news

Signatories share responses to COVID-19

2020-04-03 | UNEP-FI Principles for Responsible Banking
blog
external news
our news

Putting principles before profit?

2019-10-31 | FORESIGHT Climate & Energy
blog
external news
our news

Can big banks and bosses look Greta Thunberg in the eye as they talk the talk on climate change?

2019-09-29 | South China Morning Post
blog
external news
our news

One-third of world's banking industry pledges to align business with SDGs

2019-09-24 | Devex
blog
external news
our news

Latin American banks join climate initiative as critics pounce

2019-09-23 | bnamercas
blog
external news
our news

Greta Thunberg tells UN leaders 'we will never forgive you': 2019 summit latest

2019-09-23 | Financial Times
blog
external news
our news

Biggest banks sit out new industry climate-goals commitment

2019-09-22 | Bloomberg
blog
external news
our news

Civil society statement on the new Principles for Responsible Banking

No more greenwashing: principles must have consequences
2019-09-22 | New York, USA
blog
external news
our news

The UN banking principles are welcome – but do they go far enough to stop climate destruction?

2019-09-21 | openDemocracy
blog
external news
our news

Fossil banks can't be responsible banks; responsible banks can't be fossil banks

The science is clear - meeting the Paris goal of limiting global warming to 1.5 degrees cannot be combined with financing new fossil fuel infrastructure
2019-07-30 | Johan Frijns – BankTrack
blog
external news
our news

We seek Commitments, not just more Principles

45 civil society organisations seek rewrite of Principles for Responsible Banking
2019-05-29 | Nijmegen | BankTrack
blog
external news
our news

Banks worldwide lining up to endorse ‘Principles for Responsible Banking’

2019-05-22 | UNEP Finance Initiative
blog
external news
our news

Principles must bring commitments

Banks endorsing draft Principles for Responsible Banking called upon to urgently act on what they sign
2018-11-26 | Paris | BankTrack

Documents

Type:
Year:
correspondence
2020-10-20 00:00:00

Letter from civil society to all PRB signatories

Letter to all PRB banks following from the civil society briefing paper
2020-10-20 00:00:00 | BankTrack, Rainforest Action Network, and partners
our publications
2020-10-20 00:00:00

A Call to Action on the Principles for Responsible Banking: End Climate-Destructive Financing Now

Joint civil society statement
2020-10-20 00:00:00 | BankTrack, Rainforest Action Network, and others
our publications
2020-09-22 00:00:00

PRB banks responsible for over US$1.25 trillion in climate-destructive financing since Paris Agreement

Media briefer
2020-09-22 00:00:00 | Rainforest Action Network and BankTrack
correspondence
2020-09-18 00:00:00

Letter from UNEP-FI to BankTrack and partners on the transparency of PRB proceedings

Response by UNEP-FI on letter sent by BankTrack and partners in August 2020
2020-09-18 00:00:00 | UNEP-FI
other documents
2020-03-31 00:00:00

UNEP-FI Portfolio Impact Identification Tool for Banks

2020-03-31 00:00:00 | UNEP-FI Principles for Responsible Banking
correspondence
2020-08-14 00:00:00

Letter from BankTrack and partners to Eric Usher (head UNEP-FI) on the transparency of PRB proceedings

2020-08-14 00:00:00 | BankTrack and partners
other documents
2020-06-30 00:00:00

Banking Governance Framework

2020-06-30 00:00:00 | UNEP-FI
our publications
2019-09-22 00:00:00

Civil Society Statement on the new Principles for Responsible Banking

2019-09-22 00:00:00 | BankTrack and others
other documents
2019-07-16 00:00:00

The Reporting and Self-Assessment Template

2019-07-16 00:00:00 | UNEP-FI Principles for Responsible Banking
other documents
2020-03-31 00:00:00

Guidance Document: Impact Analysis

2020-03-31 00:00:00 | UNEP-FI Principles for Responsible Banking
other documents
2020-04-30 00:00:00

Key Steps to be Implemented by Signatories

2020-04-30 00:00:00 | UNEP-FI Principles for Responsible Banking
other documents
2019-09-19 00:00:00

PRBs Guidance Document

2019-09-19 00:00:00 | UNEP-FI Principles for Responsible Banking
other documents
2019-07-31 00:00:00

Overview infographic

2019-07-31 00:00:00 | UNEP-FI Principles for Responsible Banking
correspondence
2019-09-10 00:00:00

Letter from Sumitomo Mitsui Trust Holdings to Banktrack on PRB implementation

2019-09-10 00:00:00 | Sumitomo Mitsui Trust Holdings
our publications
2019-09-18 00:00:00

Principles for Responsible Banking and fossil fuel financing

Fossil fuel financing of selected signatory banks
2019-09-18 00:00:00 | BankTrack
correspondence
2019-09-15 00:00:00

Letter from Jyske bank to BankTrack on PRB implementation

2019-09-15 00:00:00 | Jyske bank
correspondence
2019-09-13 00:00:00

Letter from SMBC to BankTrack on PRB implementation

2019-09-13 00:00:00 | SMBC
correspondence
2019-09-13 00:00:00

Letter from Banorte to BankTrack on PRB implementation

2019-09-13 00:00:00 | Banorte
correspondence
2019-09-13 00:00:00

Letter from Keystone to BankTrack on PRB implementation

2019-09-13 00:00:00 | Keystone
correspondence
2019-09-13 00:00:00

Letter from Garanti BBVA to BankTrack on PRB implementation

2019-09-13 00:00:00 | Garanti BBVA
correspondence
2019-09-11 00:00:00

Letter from Commercial International Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Commercial International Bank
correspondence
2019-09-11 00:00:00

Letter from Santander to BankTrack on PRB implementation

2019-09-11 00:00:00 | Santander
correspondence
2019-09-11 00:00:00

Letter from BankTrack to PRB early endorsing banks on PRB implementation

2019-09-11 00:00:00 | BankTrack
correspondence
2019-09-11 00:00:00

Letter from Zenith Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Zenith Bank
correspondence
2019-09-11 00:00:00

Letter from Westpac to BankTrack on PRB implementation

2019-09-11 00:00:00 | Westpac
correspondence
2019-09-11 00:00:00

Letter from Wema Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Wema Bank
correspondence
2019-09-11 00:00:00

Letter from Triodos Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Triodos Bank
correspondence
2019-09-11 00:00:00

Letter from Standard Chartered to BankTrack on PRB implementation

2019-09-11 00:00:00 | Standard Chartered
correspondence
2019-09-11 00:00:00

Letter from Standard Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Standard Bank
correspondence
2019-09-11 00:00:00

Letter from Société Générale to BankTrack on PRB implementation

2019-09-11 00:00:00 | Société Générale
correspondence
2019-09-11 00:00:00

Letter from Pireaus Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Pireaus Bank
correspondence
2019-09-11 00:00:00

Letter from Nordea to BankTrack on PRB implementation

2019-09-11 00:00:00 | Nordea
correspondence
2019-09-11 00:00:00

Letter from Natixis to BankTrack on PRB implementation

2019-09-11 00:00:00 | Natixis
correspondence
2019-09-11 00:00:00

Letter from NAB to BankTrack on PRB implementation

2019-09-11 00:00:00 | NAB
correspondence
2019-09-11 00:00:00

Letter from Landsbankinn to BankTrack on PRB implementation

2019-09-11 00:00:00 | Landsbankinn
correspondence
2019-09-11 00:00:00

Letter from Land Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Land Bank
correspondence
2019-09-11 00:00:00

Letter from KCB Group to BankTrack on PRB implementation

2019-09-11 00:00:00 | KCB Group
correspondence
2019-09-11 00:00:00

Letter from KBC to BankTrack on PRB implementation

2019-09-11 00:00:00 | KBC
correspondence
2019-09-11 00:00:00

Letter from ING to BankTrack on PRB implementation

2019-09-11 00:00:00 | ING
correspondence
2019-09-11 00:00:00

Letter from GLS Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | GLS Bank
correspondence
2019-09-11 00:00:00

Letter from FirstRand to BankTrack on PRB implementation

2019-09-11 00:00:00 | FirstRand
correspondence
2019-09-11 00:00:00

Letter from Eurobank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Eurobank
correspondence
2019-09-11 00:00:00

Letter from Citi to BankTrack on PRB implementation

2019-09-11 00:00:00 | Citi
correspondence
2019-09-11 00:00:00

Letter from CIMB to BankTrack on PRB implementation

2019-09-11 00:00:00 | CIMB
correspondence
2019-09-11 00:00:00

Letter from CaixaBank to BankTrack on PRB implementation

2019-09-11 00:00:00 | CaixaBank
correspondence
2019-09-11 00:00:00

Letter from BNP Paribas to BankTrack on PRB implementation

2019-09-11 00:00:00 | BNP Paribas
correspondence
2019-09-11 00:00:00

Letter from BCC Grupo Cajamar to BankTrack on PRB implementation

2019-09-11 00:00:00 | BCC Grupo Cajamar
correspondence
2019-09-11 00:00:00

Letter from BBVA to BankTrack on PRB implementation

2019-09-11 00:00:00 | BBVA
correspondence
2019-09-11 00:00:00

Letter from Barclays to BankTrack on PRB implementation

2019-09-11 00:00:00 | Barclays
correspondence
2019-09-11 00:00:00

Letter from Bankia to BankTrack on PRB implementation

2019-09-11 00:00:00 | Bankia
correspondence
2019-09-11 00:00:00

Letter from Arion Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Arion Bank
correspondence
2019-09-11 00:00:00

Letter from Amalgamated Bank to BankTrack on PRB implementation

2019-09-11 00:00:00 | Amalgamated Bank
correspondence
2019-09-11 00:00:00

Letter from ABN AMRO to BankTrack on PRB implementation

2019-09-11 00:00:00 | ABN AMRO
our publications
2019-05-29 00:00:00

We seek Commitments, not just more Principles

Joint civil society submission to the United Nations Environment Programme Finance Initiative consultation on the draft Principles for Responsible Banking
2019-05-29 00:00:00
other documents
2018-11-26 00:00:00

The Principles for Responsible Banking: public consultation launch

2018-11-26 00:00:00 | UNEP-FI Principles for Responsible Banking

Links

UNEP-FI Principles for Responsible Banking

The official webpage of the PRBs

https://www.unepfi.org/banking/bankingprinciples/
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