What does values-based banking look like?
Banking on Values Day, taking place Nov. 10 and hosted by the Global Alliance for Banking on Values, presents an opportunity to answer this question – and spread the message of sustainable finance around the globe.
This year’s theme is “real impact behind big words,” and emphasizes the importance of walking the walk when it comes to environmental and social responsibility. To mark the occasion, the GABV has highlighted eight values and examples of how member banks abide by them.
Take, for example, GABV member bank Banca Etica. Banca Etica “is the first cooperative bank in Italy operating with ethical codes and approaches, and practices democratic management.” The bank, according to the GABV, has made the decision not to invest in unethical sectors such as weapons or fossil fuel.
ESAF Small Finance Bank, based in India, is another financial institution highlighted by the GABV for Banking on Values Day. ESAF has adhered to the “inclusion” value by starting a savings account exclusively for the transgender community. The decision was made to increase financial wellness among all consumers.
Find a complete list of the GABV banks highlighted here.
The GABV is made up of roughly 60 member banks across the world intent on making the financial sector more sustainable. Collectively, the organization serves 60 million customers and holds more than $200 billion in combined assets under management. Sunrise Banks CEO David Reiling chairs the GABV.