VP Bank has signed the United Nations’ Principles for Responsible Banking. This aims to strengthen banking groups’ commitment to sustainability. The banking group had already created a sustainability plan back in 2016.
The United Nations’ (UN) Principles for Responsible Banking define the roles and responsibility of banks with regard to orienting the sector on the UN’s sustainability targets and implementing the Paris Climate Agreement, VP Bank explains in a press release. The bank has committed to upholding the Principles for Responsible Banking by officially signing it. Paul H. Arni, Chief Executive Officer of VP Bank Group, is quoted in the press release, saying: “The Principles are fully aligned with VP Bank’s strategy 2026 and ambition to grow its business while creating a positive impact for society and environment.”
The press release further explains that the banking group views sustainability as a key part of its group strategy and a prerequisite for the group’s long-term success. As early as 2016, VP Bank had developed a sustainability plan. Commitment to the Principles for Responsible Banking should encourage implementation of this strategy.
Arni further states in the press release: “As a bank we are in a position to advance sustainable development for the benefit of all our stakeholders. We are proud to be part of a coalition that is proactively working towards creating a more sustainable economy.”