In­tro­duc­ing Prin­ci­ples of Re­spon­si­ble Bank­ing at in­ter­na­tional con­fer­ence in Paris

The Daily News Egypt - - Events - Dalia Ab­delka­der

For the first time, the Prin­ci­ples For Re­spon­si­ble Bank­ing, will be launched at the Global Meet­ing of the Round­table on the Ini­tia­tive in Paris, where prin­ci­ples will be put for­ward for con­sul­ta­tion by fi­nan­cial in­sti­tu­tions un­til Sep­tem­ber 2019.The prin­ci­ples aim to em­pha­sise the role of banks to­wards the en­vi­ron­ment and so­ci­ety, to reach the sus­tain­able de­vel­op­ment goals of the Paris Cli­mate Con­ven­tion and the United Na­tions Sus­tain­able De­vel­op­ment Goals (SDGs).

The Arab African In­ter­na­tional Bank (AAIB), has played an ac­tive role in the ac­tiv­i­ties of the Na­tions En­vi­ron­men­tal Pro­gramme Fi­nance Ini­tia­tive, a 27-bank­ing in­sti­tu­tions with as­sets of $17tn in five con­ti­nents, to put the prin­ci­ples which so­lid­i­fied re­spon­si­ble bank­ing, and grants the bank the struc­ture that can in­te­grate sus­tain­abil­ity in bank­ing trans­ac­tions.The bank has also led one of the core work­ing groups re­spon­si­ble for is­su­ing the guid­ing prin­ci­ples for the ap­pli­ca­tion of these prin­ci­ples, in col­lab­o­ra­tion with Pi­raeus Bank.The bank also led an­other group with Pi­raeus Bank and the In­dus­trial and Com­mer­cial Bank of China on for­mu­lat­ing the pre­req­ui­sites for join­ing the ini­tia­tive and the con­sol­i­da­tion of the prin­ci­ples, and the for­mu­la­tion of the an­nual re­port re­quired of all the signed banks to eval­u­ate their per­for­mance, and to con­firm their com­mit­ment to ap­ply­ing these prin­ci­ples.

The sign­ing of the prin­ci­ples by the banks when they are put for­ward again in 2019 - af­ter the con­clu­sion of the con­sul­ta­tion pe­riod which be­gan yes­ter­day - to pub­li­cise its com­mit­ment and take re­spon­si­bil­ity for its pos­i­tive or neg­a­tive im­pact on the fac­tors of the en­vi­ron­ment, econ­omy and so­ci­ety. In this con­text, it will be agreed on the com­mon ob­jec­tives of the signed banks to work to­wards achiev­ing them, in or­der to man­age their most neg­a­tive im­pacts, and to in­crease their pos­i­tive im­pact to achieve the ob­jec­tives of sus­tain­able de­vel­op­ment lo­cally and in­ter­na­tion­ally.

The bank was rep­re­sented Head of Sus­tain­abil­ity and Mar­ket­ing, Dalia Ab­delka­der, who was as­signed to present the bank and Egypt’s ex­pe­ri­ence in pro­mot­ing sus­tain­able fi­nanc­ing, and to ad­dress the Egyp­tian banks’ ap­proach to sus­tain­able fi­nanc­ing in Egypt. She has been as­signed as a rep­re­sen­ta­tive of the ini­tia­tive in the Mid­dle East, to spread the prin­ci­ples among fi­nan­cial in­sti­tu­tions and to mo­ti­vate them to ad­here to them. In this re­gard, she said that the prin­ci­ples of re­spon­si­ble bank­ing are the first in­ter­na­tional move by fi­nan­cial in­sti­tu­tions to in­tro­duce a new cul­ture and prac­tices which cre­ate a syn­ergy be­tween fi­nance and sus­tain­able de­vel­op­ment ob­jec­tives. She added that the prin­ci­ples will serve as a bench­mark for the banks’ cred­i­bil­ity in the com­ing pe­riod,and their abil­ity to cre­ate new hori­zons for bal­anced growth.

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