Tinkoff Group Becomes Signatory to the Global Principles for Responsible Banking
Tinkoff Group has joined the United Nations Environment Programme Finance Initiative (UNEP FI), the largest UN partnership with the finance industry or the worldwide community of nearly 400 banks, insurers and investors. More than 220 banks have now signed the Principles for Responsible Banking, a unique framework for ensuring that signatory banks’ strategy and practice align with the vision society has set out for its future in the Sustainable Development Goals and the Paris Climate Agreement.
The Principles for Responsible Banking provide the framework for banks to:
- Align global environmental, social and corporate governance efforts at management level.
- Lower the negative environmental impact of their products and services in order to prevent climate change and limit global warming.
- Work with customers responsibly, which includes increasing the financial literacy of retail customers and encouraging corporate customers to pursue sustainable economic activity.
- Incorporate sustainable development in investor relations in order to achieve broader societal goals.
- Create a corporate culture in line with the sustainable development and responsible banking principles.
- Act transparently– review business activity and ensure that reports outlining the positive and negative impact of the bank’s operations, as well as its sustainable development efforts, are publicly available.
Oliver Hughes, Tinkoff Group CEO: “Becoming a signatory of the Principles for Responsible Banking was a logical step for the Group and is proof of our commitment to continue developing our business sustainably.
Corporate social responsibility has always been a part of Tinkoff's DNA, and now we can openly share the results of the implementation of our sustainable development strategy with the community. We are excited to pursue this path and have an even greater impact on our customers, employees, partners, shareholders and society in general.”
Today, the UNEP FI collaborates with 450 organizations (banks, insurers, investors and related institutions) to ensure that financial services benefit the planet and improve the quality of people's lives without causing harm to future generations.