Sustainable finance
Principles for Responsible Banking (PRB)
Definition
The Principles for Responsible Banking are a framework launched in 2019 by the UNEP Finance Initiative, comprising six principles — alignment, impact and target setting, clients and customers, stakeholders, governance and culture, and transparency and accountability. Signatory banks commit to aligning their business strategy with the Sustainable Development Goals and the Paris Agreement, analysing their most significant impacts, setting and publishing targets, and reporting progress individually.
References
This reference provides supporting context for how “Principles for Responsible Banking (PRB)” is defined and used.
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Overview
How it is used
Several hundred banks representing a large share of global banking assets are signatories; their PRB reports are a primary source for civil society and regulator assessment of bank sustainability claims.
Why it matters
Banks sit at the centre of capital allocation; the PRB is the broadest global framework for holding them publicly accountable for the sustainability impact of that role.