Francesca McDonagh, Bank of Ireland Group Chief Executive, signed the United Nations Environment Programme – Finance Initiative (UNEP FI) Principles for Responsible Banking at the UN Headquarters in New York City.
Providing a framework for a sustainable banking industry, the programme has been developed through a partnership between banks globally and the UNEP FI. The UN Principles help to align the banking sector with the objectives of the UN Sustainable Development Goals and the 2015 Paris Climate Agreement.
Francesca McDonagh outlined Bank of Ireland’s role in shaping a sustainable future. “Conducting our business in a responsible and sustainable way is fundamental to enabling our customers, colleagues and communities to thrive. Signing the UNEP FI principles is a key step in Bank of Ireland’s Responsible and Sustainable Business journey, signifying our commitment to be part of the global drive for more responsible banking operations.”
Geraldine Byrne Nason, Ireland’s Ambassador to the United Nations welcomed Bank of Ireland’s commitment, saying, “It is important that we collectively take responsibility to achieve the objectives of the 2030 Agenda and Paris Agreement. I am glad to see Irish Banks take action in this.”
Francesca McDonagh added: “Our customers want practical ways to help them make greener decisions. That’s why earlier this year we launched a suite of green loans and interest rates to encourage and reward homeowners and businesses to be more energy efficient.
“As a company, we have also made strides in transforming our own operations and reducing our property and carbon footprint. Of course, we are still at the early stages and by signing the United Nations’ principles Bank of Ireland’s sustainability roadmap is clearly defined and benchmarked globally against others across the banking industry.”