The United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking (PRB) was launched by 130 banks from 49 countries, representing more than USD47 trillion in assets.

In September 2019, CIMB Group (CIMB Niaga’s majority shareholder) is a founding member and the first ASEAN signatory. Part of our commitment is to also mobilise and influence our networks, including clients, industry bodies, peers, regulators and policy makers to understand the PRB and their application in banking. To date, over 170 signatories have now signed up to the PRB.

There are 6 principles that provide the framework for a sustainable banking system, and help the financial industry contribution positively to society. These principles help accelerate the banking industry’s contribution to achieving society’s goals as expressed in the Sustainable Development Goals and the Paris Climate Agreement.

Principle 1:

Alignment

We will align our business strategy to be consistent with and contribute to individuals' needs and society's goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks.

Principle 2:

Impact & Target Setting

We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities, products and services. To this end, we will set and publish targets where we can have the most significant impacts.

Principle 3:

Clients & Customers

We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.

Principle 4:

Stakeholders

We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society's goals.

Principle 5:

Governance & Culture

We will implement our commitment to these Principles through effective governance and a culture of responsible banking.

Principle 6:

Transparency & Accountability

We will periodically review our individual and collective implementation of these Principles and be transparent about and accountable for our positive and negative impacts and our contribution to society's goals.

As a signatory, CIMB Group and 36 banks also signed the Collective Commitment to Climate Action, which sets out concrete and time-bound actions that banks will take to scale-up their contribution and align their lending with the objectives of the Paris Agreement on climate.

This will see us accelerate and scale-up our efforts and contributions to align our lending with the objectives of the Paris Agreement on Climate. This further reinforces our continued commitment to support national, regional as well as international efforts to build a low-carbon and climate-resilient world.

For more information on the Collective Commitment to Climate Action and all participating banks, please click here.