Milan, 14 June 2021 – Mediobanca has adhered to the Principles for Responsible Banking (the “PRB”) of the UN Environment Programme Finance Initiative promoted by the United Nations with the aim of helping to steer the sector further in the direction of achieving the Sustainable Development Goals set by the UN.
This choice is consistent with the Strategic Plan unveiled by Mediobanca in November 2019, which was already firmly based on ethical and responsible banking principles with a view to strengthening a sustainable business model in pursuit of sustainable growth.
The Principles for Responsible Banking were launched at the United Nations’ General Assembly in September 2019 and have the aim of incentivizing banks to set objectives for sustainable growth and to measure the impact of their own activities on individuals and the planet.
The Principles themselves are as follows:
- Aligning business strategies to be consistent with and contribute to individuals’ needs and society’s goals, in accordance with the guidelines issued by the United Nations (the SDGs) and the respective national and regional frameworks;
- Continuously increasing positive impacts while reducing negative impacts on people and environment resulting from activities, products and services;
- Support for clients that promote sustainable practices and prosperity for current and future generations;
- Proactively engaging and partnering with relevant stakeholders to share and reach the Group’s goals;
- Effective governance and developing a culture of responsible banking;
- Reviewing implementation of the PRBs and being transparent about the results achieved.
These principles also form part of the political and institutional framework outlined by the Paris Climate Agreement and the 2030 Agenda 2030 for Sustainable Development.
“We are keen to play an active role in delivering on the United Nations’ Global Agenda“, said Alberto Nagel, Chief Executive Officer of Mediobanca. “We are well aware of the significant contribution that financial institutions today can make in the area of sustainability issues, which is why we integrated ESG criteria into our business model when we developed our Strategic Plan through to 2023: tangible evidence of our commitment to create value over the long term for our clients, colleagues and stakeholders”.
Milan, 14 June 2021