Bankers association commits to responsible banking

The Liechtenstein Bankers Association has signed the United Nations’ Principles for Responsible Banking. In doing so, the banking association is honoring its responsibility for a sustainable finance sector.

The Liechtenstein Bankers Association (LBA) is committing to its responsibility regarding a sustainable finance sector. The LBA has announced in a press release that it has signed the United Nation’s Principles for Responsible Banking (PRBs). “As the voice of all Liechtenstein banks” the banking association believes that it is in a good position to support banks in implementing the principles.

The principles from the UN’s finance initiative developed together with the global banking sector represent a unified framework for responsible banking. The defined guidelines should align the banking sector with meeting the UN’s sustainability targets and the Paris Climate Agreement from 2015. According to the press release, around 220 banks and 60 organizations have currently committed to upholding the principles worldwide. This includes LGT, VP Bank and Kaiser Partner, three of the total of eleven member banks in the LBA.

LBA CEO Simon Tribelhorn is quoted in the press release, saying: “Banks are at the centre of sustainability. Our commitment to the PRBs reflects the focus of us and our members towards becoming more sustainable and incorporating sustainability into everything we do in order to drive long-term value and growth in the market while making a positive contribution to society.”