City Bank has signed the UN Principles for Responsible Banking (PRB) and become a member of the United Nations Environment Programme Finance Initiative (UNEP FI), according to a press release.
The PRB, created by UNEP FI, provides a global framework for banks to align their business strategies, portfolios, and operations with the Sustainable Development Goals and the objectives of the Paris Agreement on climate change.
Founded in 1992, UNEP FI brings together a large network of banks, insurers and investors, connecting the United Nations with financial institutions from around the world to shape the sustainable finance agenda. The Geneva-based secretariat works with more than 550 banks and insurers worldwide.
By becoming a PRB signatory, City Bank joins a global community of banks working to build a more sustainable, inclusive, and resilient financial system. The bank will assess and disclose the environmental and social impacts of its activities, set measurable targets in priority impact areas, and strengthen transparency and accountability in line with international best practices.
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