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mr. secretary-general and Tony Gutierrez it is a great honor for me today to present to you one third of the world banking community represented in this room at the official launch and signing of the principles for responsible banking mr. secretary-general we're very grateful that you have found time in what we know is an extremely busy schedule to be here with us today and without further ado allow me now to hand it over to you for your speech to this assemble assembly thank you dear members of the responsible banking community ladies and gentlemen I'm very pleased to join you today on the eve of the global climate action summit and the General Assembly to launch the United Nations principles for responsible banking this week global leaders will share the actions they are taking to achieve the sustainable development goals and to end the climate crisis our US business leaders response can be a defining moment for our global goals only public-private cooperation can deliver sustainable development and I'm counting on the private sector to support ambitious action to be objective I'm witnessing more and more situations in which the private sector is living namely in climate change and governments are still holding back and so more and more this relationship has been a relationship driven by the private sector which I can see they're extremely important in order to be able to achieve not only effective climate action but also the sustainable development roles and the banking sector is responsible for more than two-thirds of all financing globally and 90% in developing countries and it is in developing countries that you are facing specially in the least developed countries the most dramatic challenge in relation to the capacity to deliver the sustainable development cause the recent calculations made by the International Monetary Fund demonstrate that the gap in financing to reach the goals in the least developed countries is indeed out of I would say reach from the point of view of the fiscal capacity of those countries so your actions count and count in a decisive way and that is why I ask you for ambitious action in three key areas first aligning business with the sustainable development goals with Global Wealth succeeding 300 trillion dollars the two to three trillion dollar gap needed for the sustainable development goals financing seems miniscule second support gender equality make more loans available for women-owned businesses and work to ensure women are equally represented where you do business and it's also important to support small and medium enterprises many of which are women-owned because they are the lifeblood of the economy and my sir tasks particularly important today is to invest in climate action and to disinvest from fossil fuels and pollution in general climate action has multiple benefits including job creation reduced air pollution improved public health and greater security for nations and economics given rapidly falling technology costs investing in renewable energy and energy efficiency makes sense from every angle to survive as a society we will need to transform our we grow food our use land or we fool our transport and our power our economies and we'll rely on you to scale up financing to businesses that stimulate green growth place your bets on the green economy not the gray economy because the gray economy will have no future the UN principles for responsible banking are a guide for the global banking industry to respond to drive and benefit from a sustainable development economy the principles create the accountability that can realize responsibility and the ambition that can drive action and they will enable banks around the world to align their strategies with the sustainable development goals and the Paris agreement on climate change when a bank aligns its business with these goals and with the goals of the society transformational change can take place the signatory banks that are with us today and the more than 130 around the world that have already committed to the principles for responsible banking have demonstrated strong leadership and today I call on you to advocate among your peers to sign up to these principles as you now begin implementing them set your targets high and wide and match your ambition with innovation create new business models and offerings that most Drive and respond to the emerging sustainable development economy as an industry you can help us succeed in shifting from incremental to exponential progress you are very powerful partners and so let us march together to achieve the sustainable development goals and I thank you very much for your presence for your commitment or for the extremely important role that you can play to make those goals that many consider unachievable become a reality thank you very much thank you so very much Secretary General we've listened to your wise words at this point I'm sure that everyone is keen to make that pledge which will be in the form of a symbolic signing of the principles for sustainable for responsible banking these the the signatory document is in front of you and what we would like to do with the photos being taken from various angles is to invite you at this point to bring and to open the folder that is there and I would like to invite every one of you in front of the Secretary General of the United Nations and your peers to sign in commitment of the pledge for the principles of sustainable can we write our UN photographers to come up on this side hang on with your signatures so as I think everyone is ready may I invite you at this point to put pen to paper and the commitment to your business thank you thank you so very much and I believe that you have made very valuable signatures but these I would say is a particular value to all of us thank you very much [Applause] at this point allow me to call on Ralph hammers and solar David Borja to join me here at the podium to make a presentation on the principles of responsible banking yes okay good afternoon everyone it's a it's an honor to be here and to speak on behalf of the signatory banks 331 banks that are signing and have signed the principles for responsible banking this afternoon my name is Ralph hammers and I run ing and often I get asked the question what the future of banking is and they often ask me this question because you know they think about digital and about you know branchless banking but I always give the same answer the future of banking lays within the purpose of the financial institutions just like any other corporation we're all driven by a purpose and if you look at the purpose of our collective banks they're pretty similar they're pretty similar to the extent that if you really read them it is about empowering people or businesses to to do what they need to do and within that purpose we clearly show that we're not servicing a primary need nobody wakes up in the morning wanted to have a car loan people would want to have a car so we are actually facilitating we're facilitating people and businesses in realizing what they want to do and as such we are facilitating the economies in which we work we are facilitating these economies to develop in a way that they create opportunities for current generations and future generations if it comes to education if it comes to job creation if it comes to diversity inclusion developing businesses developing infrastructure and in doing so living up to our purpose we do it and we are pledging today to do that in line with the UN sustainability goals sustainable development goals we have a real impact here because we have many clients and we represent a large part of the worldwide economy we're a group of banks small and large coming from 49 different countries that's how powerful we are now in that development there's one more thing we're also corporate citizens and as a corporate citizen we feel the moral obligation to also ensure that what we do is in line with the Paris climate agreement so the why we are signing these principles is very clear the question is how do we go about the how how do we do this and in that one I think we all will find our own ways but we all realize that the how is the most important in order to create the impact and now how is around not so much what you don't do because it's easy to exclude honestly it is about what you do finance and in what you finance and which client you finance and which client you engage with that you have that discussion about how this client in his or her sector can actually comply and its business with the sustainability sustainable development goals as well as the climate agreement that's where we have to impact basically not our primary footprint because we are digital by these days but our secondary footprint and how we manage that one down that's the crucial impact that we have now from that perspective you know we are this is kind of a historical moment because we're a good group representing has set already more than 30 percent of banking assets in the world so we can move the needle and the leadership gathered here can make a difference and I think we all can be very proud of taking that on now before I give to Sola the word over the floor to solar one more thing with this we do take responsibility we do take responsibility for how we act in the world how we act with our stakeholders and we also have to show accountability and the principles for responsible banking give us basically a common language as to how we in the future can communicate about our progress and how we do this that's the important element but we're only starting the work is ahead of us and the work is ahead of us with what we can do as institutions but I'm also going to call on you to inspire the leaders of the other banks that are not here to join us as well because then we can even go faster thank you very much and Sola the floor is yours thank you all good afternoon ladies and gentlemen as many of you will know today's launch is a culmination of almost two years of intensive discussion consultation and negotiation the core team has been responsible for developing the principles was first constituted in April last year we represented 28 banks and I believe two joined very soon after from all over the world spanning both developed and developing economies and I'm really proud to represent our continent Africa here today working closely with the UNEP fi Secretariat we consulted with a wide variety of banks large and small across the blue and engage with a great many other stakeholders including civil society organizations banking associations regulators and technical experts over the past year and a half we shared insights and experiences from our own diverse context we've listened to a broad array of views we've had some very robust debates and we've learned a great deal the principles for responsible banking set the global benchmark for what it means to be a responsible bank they are affirm recognition that banks indicators of impact and success should be much broader than their financial results signatory banks commit to aligning their business strategies with the objectives and targets set out by the UN sustainable development goals and the Paris climate agreement and all the relevant national and regional frameworks our objective is to work responsibly with our clients and customers to create shared prosperity for current and future generation we commit to developing a far clearer understanding of the scope and scale of our impact on society on economic growth and the environment and to work proactively to ensure that we maximize the positive impacts of our business activities while minimizing the negative impacts to ensure that words are backed by action the signatory banks commit to setting and publishing bank specific targets focusing on the areas in which we have the most significant positive and negative impact we will report publicly on our progress against these targets and will hold ourselves and one another accountable for our progress we recognize that this is crucial to earn stakeholder trust protect our social relevance and ensure a long-term sustainability and we commit to consulting engaging and partnering with our stakeholders recognizing that the societal goals we aim to achieve require cooperation and collaboration across sectors and geographies this is a journey which we are just beginning and we are working towards the achievement of fundamental changes in culture in behavior in transparency and accountability across the global banking sector so it's a huge task but we are confident that the principles provide the right way forward for the industry set in a high but achievable standard against which we invite our stakeholders to hold us to account there will be those who will argue that we're not moving fast or far enough but we've been very clear that to be meaningful and impactful this initiative needs to resonate across the industry and across national borders so we've taken a deliberately measured approach precisely because we want as many banks as possible to join us we recognize that different institutions will begin the journey from vastly different points and our objective is to be inclusive and supportive and to work together to achieve a skill of change far greater than who be achieved by a smaller number of institutions working in isolation on behalf of all the founding signatory banks I'd like to encourage our stakeholders to join us on this journey please hold us to account but also engage us constructively and proactively in finding new and creative ways to work together to challenge to face the challenges facing our planet and to ensure that we all contribute towards our more sustainable and socially relevant way of doing business we recognize that it takes more than putting pen to paper to make a global agreement on responsible banking a reality but today marks a very important starting point the principles provide a trustworthy and credible framework to transform the industry into a leading player in achieving the Sustainable Development Goals benefiting society as a whole not only for this generation but for generations to come thank you [Applause] we've heard two powerful speeches by two of your representatives speaking I'm sure on behalf of all on the commitment to the principles of responsible banking and for a long day long Deep Horizon vision of where the banking sector can journey in the context and alongside sustainability and the sustainable development goal said we have all agreed so allow me then on my side to thank everyone who has here today and to encourage that what you have signed today will become a living document in your industries and in your businesses these principles as you know have been developed by unep and with a core group of thirty banks from around the world many of which of course I represented here today they guide banks as they strive to align themselves with sister with the sustainable development goals and with the Paris agreement on climate change the Secretary General and being here earlier on is a signal of his commitment to you as well as used to him in the implementation of the principles that you have signed and the presence earlier of the Secretary General ahead of the climate action summit also demonstrates that these principles have the potential to transform the global economy because we desperately need to transplant transformation to help address three challenges which will hope to humanity back from the potential and from a brighter future for all and the first challenge obviously on the eve of the summit I have to name is climate change leading economists referred to climate change as being the greatest market failure in human history if unchecked climate change could lead to a loss of 5 to 20% of global GDP per year it's already damaging the well-being the economic development and the financial system of financial stability of current and future generations the summer heat waves the fires the inundations the droughts the failed harvests each of these are testament to what we are doing to our planet but this summer was just a taste of a wider menu of climate impacts from extreme weather to rising seas in a sense when we do not take care of nature nature will send us invoices and these invoices come in the form of droughts fires inundations etc but the pollute the solutions are within our grasp s-- investment in renewable energy are beginning to edge out fossil fuels the global trends in renewable energy investment report found that investments in renewable energy capacity from 2010 to the end of 2019 is likely to hit 2.6 billion dollars who would have a sorry excuse me of cost trillion who would have thought that just 10 years ago in 2017 renewables avoided an estimated two billion tons of co2 emissions so just imagine the impact that we could deliver if we shift even more investments away from fossil fuels and towards renewables we can slow climate change we can create sustainable jobs bring clean and renewable energy to communities across the world so yes that first challenge that I put to you is indeed climate change but the second challenge that I'd like to put to you and I mentioned that to some of you earlier today is ecosystem and biodiversity loss as we convert land to agriculture as we must to feed the 800 million people that go to bed hungry and we in expand our infrastructure and our urban expansion we damage the natural foundation that makes prosperity possible we already today use seventy-two percent of the planet's ice-free surface to feed clothe and house ourselves so as we expand into that surface there are clear consequences and we have destroyed ecosystems and habitats and now we are facing potential loss of at least 1 million out of 8 million species on earth so the second point that I wish to raise for you as a challenge is indeed ecosystem and biodiversity loss but again here solutions were are within our reach we can restore the 2 million hectares that are lying degraded we can ensure that we can bring generations of of agriculture back we can ensure that we can generate about 9 trillion in ecosystem services by 2030 society is ready for this restoration is an obvious opportunity restoring degraded lands can but be a success story to all the third challenge that I wish to highlight is pollution of the land on the air and of the sea these pollutants from our transport from our industry and from our agriculture plays a huge economic burden on the healthcare system on the productivity of labour and of cleanup that we have to do and here again we do know what to do again like renewables which is beginning to show a success story we know what to do around pollution we have to think about circularity we have to think about that circular economy a recent study by the food and land use coalition found that investing in reforming food systems would also cut produce new work pollution so there are real opportunities and so these opportunities these investments will benefit business societies but also certainly the bank themselves so we need to change course and we have to follow through with a conviction of the Paris agreement and agenda 2030 in mind that is why the principles of system of responsible banking and their framework are so important you hundred and thirty Bank collectively holding 47 trillion dollars in assets have signed up to these principles you represent one third as we heard of the global banking sector and as founding signatories you acknowledge that only in an inclusive society founded and human dignity equality and sustainable use of Natural Resources can your clients your customers and your businesses thrive so the principles are not nearly words they are supported by a strong implementation framework that has set clear accountabilities that includes ambitious target setting in areas of greatest sustainable development impact and transparency through public reporting we now have the commitment and the means to change everything and spark a transformation of the entire banking system because we know that banks are not resilient to climate change banks are not resilient to pollution and banks are not resilient to ecosystem loss because we know that when you respond to the demands of the young and the growing population who want their money to work for the planet you will see your client base rise so ladies and gentlemen we should not pretend that the task ahead of us will be quick and easy we're talking about fundamental system-wide shifts but unep is well positioned to work with you to guide you where you feel you need that guidance and to work with a wider financial sector through this transition with the principle serving at the heart of our work I am deeply grateful to each one of you and I welcome the personal commitment that more than 100 bank CEOs including 40 of you who are here with us today have made I will do my part to ensure that this leadership that you have demonstrated is reciprocated by my institution and by the United Nations as a whole we're counting on you as you drive real transformational change your clients are counting on you the young people in the summit yesterday are counting on you the planet is counting on you and I look to celebrating many successes with you in the years to come thank you so at this point there's a transition and I would like to invite the Christiana Figueres but before I do let me thank and give deep thanks to both Ralph hammers as well as Sola David Borja for their intervention and speaking on behalf of all for the commitment and the aspiration that each of you expressed thank you very much give them a round of applause [Applause] so I would at this point like to call on the the CEOs from the file world five world regions who will speak on the principles for responsible banking and what they will mean and achieve in each of their regions and I wouldn't like to invite the panel members you will kindly introduce them Simone to join us here so that we can hear from each of the regions over to you Michael okay perfect can I invite ki Carlos Christo's Konoha D and Noriko to come join us up here please ladies and gentlemen good afternoon my name is simone de thing i'll eat you know pervious banking team and my team and i have had the privilege to support the 30 banks that have led to development of these principles for responsible banking over the course of the last 18 months we are very proud to today be launching these principles with a hundred and thirty banks from every corner of the world jointly representing 47 trillion and with that over a third of the global banking industry we believe and we hope that this will be the start of a new era for a sustainable banking sector that supports society in achieving the goals it has set for a sustainable future the principles for responsible banking will guide each of you each of your banks in aligning your business with and massively scaling up your contribution to the sustainable development goals and the goals set out in the Paris agreement global goals that humanity has set for its future now while the principles for responsible banking are a global framework their implementation will be specific to the context of each banks these principles enable they require each bank to focus where it matters most where it can have the greatest impact on the most significant challenges and objectives of the society it serves so I have with me here bank leaders from all five world regions and together we want to explore how the principles for responsible banking will guide banks in different regions in different parts of the world in contributing to achieving the key objectives and tackling the key challenges of their regions so I have with me representing North America Geeko me from des Alda CEO of dashana in Canada from Latin America I would like to welcome Carlos Gonzalez he is the chairman of Bonita in Mexico for Europe we have Christos Maga Lu who's joining us from Greece as the CEO of Piraeus Bank I have to my right here Konoha diga Gousha who's the Acting CEO of the land and Agricultural Development Bank of South Africa and will represent her region and asia-pacific is represented by Norah he cockatoo who's the CEO of Gollum's bank and who has come all the way from Mongolia to be with us here today welcome so let me start in Latin America Carlos I think not just for the environmental community but for people worldwide it's quite shocking to see the pictures of a burning Amazon our banks responding to the destruction of the Amazon but also other ecosystems in the region and what more can banks do to respond to this challenge especially in the light of today's commitment thank you very much first of all it's an honor for me to be here and being able to talk to you in a dress this very important issue that is going on in the world and that we feel very proud not ignoring it as a as a bank I think that is the first thing we have to do to recognize the need in banking the value of natural capital as a crucial in asset for the well-being of other people we first have to recognize the risks that we have if we don't recognize those issues in Latin America in the Caribbean region I think it is an extremely rich in in biological diversity region we have 60% of our land and marine life over the planet in our in our territory Mexico where we have our operations in Bernardo is the fourth most diverse country in the world and it is very sad to say that 50% of our flora and fauna is qualified as endangered we have a very important challenge of balancing economic development with the record recommend recognizing the conservation of the region's natural capital we definitely don't want to witness again those devastating fires in the regions or anywhere else in the world thanks in Latin America we have to recognize the value of natural capital as I was mentioning in the beginning the principles precisely for responsible bank banking provide us with a framework to align our businesses to do the sustainable development goals and our commitment as signatories implies a new way of doing business establish new goals and targets to maximize the positive impact of our products and services and to minimize the social environmental risks in our financing activities thank you yeah thank you very much Carlos let's move a bit further north to North America ie fossil fuel extraction is a big topic in North America how will the principles for responsible banking I know not an easy question influence how banks in North America finance the energy sector well thanks and good afternoon everyone a real pleasure a real privilege to be with all of you yeah it sure that in North America there's a production of 23 million barrels per day of oil and we present around 22% of the world worldwide production so there is more than 1.6 million people who works in in the oil and gas industry so it sure that we will have to accompany them properly in the next few years to continue to disinvest carefully and proactively in fossil fuels and accelerate investment in more efficient energy sources that's the way a North American bank will have a huge impact on this industry and I think the principle I'm totally convinced of the fact that the principles will help us by creative or specific actions that will well integrate in our activities first accelerate the reduction of the carbon footprint of the financial institution actually in our own investment portfolios that's something that we will probably continue to do so develop also new capacities in helping the companies SMEs and companies that were doing business with to help them to manage their own transition and to understand the risks and the opportunities that that are offers with climate change and how we can help them not only by loans but also by any kind of financial products to make them not only happy but at least that they want to be more proactive in these kind of investments and the third one is the fact that we will be able with this new economy in front of us to invest in low Carbon economy in an in a range of new promising sectors yes renewables but energy efficiencies clean technology smart mobility there's new areas that are banks our financial institution can invest in at the end of the day I'm totally convinced that we can have a huge impact as leaders strong leaders in our economy because most of us are systemic in our countries so we can change the way some of our clients are managing their own companies okay fantastic thank you very much ski so it's very much about working with the clients working with those people in the country that are affected by the transition with that in mind let us move to Asia Pacific to you Noriko I think it is the world region where two-thirds of humanity live as two-thirds of the world's population so much of our future will be decided there it also has some of the world's most crucial ecosystems unfortunately with diversity in decline Noriko what do you see as the key environmental challenges for your region how our banks currently related with their financing to those challenges and how do they need to change working with their clients to jointly address these Thank You Simon it's honor to be here to representing asia-pacific it's such a big region the largest population and producing the greenhouse gas the most and the biological diversity also we have and the big country developed country to very rapidly develop the country and also the very less developed and also island states such a diverse region is Asia and poverty poverty reduction inclusion and social issues are also facing a general region and the many countries are now currently rapidly growing the biggest challenge for environmental issue is that how we really are integrate the sustainability into the development and people are a bit busy for the development fast economic growth and they are not necessarily are routinely can feel or aware of the importance of this sustainability so the education and awareness and the very variety of countries are included in in this region we communicate each other among other countries and this are this big challenge of rapid growth and sustainability integration is really we needed to share our knowledge and use the latest technology to make it available for the less developed countries so on and such region I need really the developed countries and less developed countries walk together and that's I think the key thank you very much Noriko so really too much focus on fast economic growth but not so much on sustainability let's take that to Africa kahani Africa is also a region with significant development challenges it has the fastest growing population in the world so from your perspective what are the key social economic environmental challenges for the continent and what role do you see for the African banking industry in tackling them Thank You Simone and good afternoon everybody I must express that it is an honor and a pleasure to be here today I think Africa experience is a number of social environment challenges that really at the heart of it affect the ability of people to generate their own livelihoods so firstly I'll talk about unemployment underemployment and which becomes while Africa does have the fastest-growing population what we are not able to do is to generate enough employment and to absorb the task and the workforce that we have youth unemployment in particular estimated to be at about 30 percent now 30 percent means that a third of your people are not working a third of your people that are able and willing to work are not working and because even the employment that is there becomes either informal or casual it also then becomes insecure when you've got insecure employment then it makes it difficult to plan it makes it difficult to invest in the things that you need to so as financial institutions it's important for us to look at ourselves and say how do we respond appropriately to the challenges that are facing ourselves uniquely how do we respond appropriately to really becoming a catalyst for small business development for creating opportunities of employment and for those people that we need to we talked about climate and climate change and this is something that really arisen is very closely with me and with the land bank being an agricultural Development Bank about five years ago in 2015 we saw the worst droughts recorded in history and what we are seeing at the moment is that hat we took for granted as agricultural seasons is things that have shifted and while now we see that rains are coming six to eight weeks late it means that we are not able to plan appropriately it means that we are not able to change and either the financing that we are supposed to do but also it affects the yields that are fetched by those farmers that we that we support and so on so climate change is not something that is up in the air that is not being experienced it is practically being felt not only by our clients but also by ASUS finances so it then becomes important for us to really try and support the people that we work with to say how do they adjust their practices such that we can respond and contribute to a more sustainable future how do we adjust the things that we finance because by making financing available you can then entrench a much better behavior you can entrench a much better investment being made by people Africa has less developed infrastructure and the kind of infrastructure that we as finance ears invest in or provide financing availability for will also determine the future and how we are then able to make sure that as we are trying to develop there to develop our countries we are doing so in a responsible manner we are doing so in a manner that ensures the sustainability of our future and future generations thank you very much Connie Hari so unemployment youth unemployment informal employment changes in season seasonality affecting farmers also making sure that infrastructure is planned in a sustainable way can you give a few examples how you feel banks in Africa can make substantial contributions to these three challenges that you named as I indicated banks the role that banks play is really becoming a catalyst to develop and making available funding making an available funding in a most appropriate manner so where you have funding that is incentivized for example for renewable energy where you have a finding that is incentivized to get our clients to adopt more sustainable methods of farming practice and there is a drive for mechanization because it improves efficiency and productivity however we need to make sure that we don't do this at the expense of employment and therefore we need to encourage either manufacturing and small businesses to to really thrive and buy the financing that we make available we can I feel that we can really do this ok thank you very much so incentivizing nudging clients but with a balance let's go to Europe here Christos incentivizing nudging clients is that something that your pian banks are looking into and if so what are the areas that you're planning to focus on what are the areas where you feel banks in Europe can really make a significant difference thank you Thank You Simone good afternoon ladies and gentlemen it's a real honor to be here with all of us today to commit to the principles for responsible banking well in Europe we are in the front row in the forefront of the transition to a lot of low-carbon economy and of course the banking industry voluntarily also with this initiative is supporting this transition there is a need for collective initiatives and this is what we are doing now to amplify the efforts that individual banks are doing and all of all of the banks being here in the panel and here with all of us are doing the same we are focusing on the principles to have guidance for the banks to create value for our customers shareholders and the society it's a global framework it's a framework that we allow us to integrate sustainability across all business areas of the bank starting from the strategic to the portfolio and then to the transaction level and this is what we are inspiring and this is how we will be able to disseminate all this effort through from our systems down to our employees down to our customers one word on Europe Europe has pledged to become climate neutral by 2050 to meet this objective and the Paris agreement objective we need an additional 180 billion euro to finance policies and investments for a low-carbon economy we have the new action plan for sustainable growth and we have introduced legislation and guidelines in order to reorient our capital flows towards these sustainable investments so we are enabling the players in the and the industries in order to enhance sustainability and that we think as banks is a very very important role thank you very much Christos I think you have emphasized something very important and that is elevating sustainability to the strategic level which is one of the key features of these principles Karlos thinking about by nortis strategy and at the same time thinking about one challenge that Latin America really faces which is inequality how can you adjust your strategy to address inequality and make a contribution to a more equitable future in Mexico and why to Latin America sure thank you very much first of all I think it's very important to say as you were mentioning inequality has been undermining the both of Latin America for a long time inequality has been a threat to a growth of countries all over Latin America and in Mexico and if we just analyze the numbers what the global index has given us is that more than 40% of the people that live in Latin America don't have access to financial services that means it's close to 200 million people that do not have access to financial services in Mexico alone more than 50% of our population does not have access to a financial institution so I think for us as banks and specifically in minority we take this very seriously our role is a very important role that can and should allow to transform the growth for the GDP of our countries by bringing financial services closer to the marginalized populations and one very specific thing that we take very seriously and by northen all our banks in Latin America are doing so and we must do so is first of all to recognize that we have not only our responsibility to our shareholders or to our collaborators the people that work with us but we have a very very important compromise with society and that compromise with society must take us closer and change our strategy as you were mentioning Simone and in order to first to focus into being able to bring these financial services closer to these marginalized communities we have a very important tool now that we can use which is technology technology is now a big ally for us and has to be a big ally in order for us to bring financial services to these types of marginalized communities I think the more we can contribute as banks as financial institutions into bringing financial services to marginalized regions we will be working together and helping and giving our grain of salt in order for our countries to reach the levels of growth and reduce the problem of inequality that we have I think the principles of banking that we're signing right now should give us a very good line of work in that sense absolutely okay thanks very much so bringing financial services closer to underserved populations is one of the solutions for addressing inequality Nora Haku let's take that to to Asia I think also there a lot of the population does not have access to financial services how do you see banks in Asia addressing inequality maybe not just in terms of income but also in terms of gender gender well are the the inclusive our financing is pretty much developing quickly in Asia are now and they still but woman the gender equality is not really included or accomplished yet though the business leaders are men dominated and the less the the women business are facing difficulty to borrowing from the financial institutions of course the microfinance and those are and international agencies supports are making a success I think for for women's our support but there are still a lot a lot to do okay taking the women to to North America key but also may be looking at other social issues that are relevant in your region how do you see - and I'm playing a stronger role in addressing a number of key social challenges well probably the gel name but also all the other in North American banks - there's many challenges in North America maybe - that I want to count that I want to concentrate on and the first one is income inequality and poverty poverty is relative we maybe think that or we're all convinced that North America is is perceived as one of the most prosperous place in the world but at the same time there is still poverty and they're still inequality and financial institutions will have a key role to play to fight these these challenges and there's one specific area that at digital named but also I think a lot of financial institution are working on is education alcam will be more proactive present in the educational system how do we encourage kids to stay in school it could be award scholarships could be programs investing in some programs with universities at college it could be also just supporting educational platform so how can we be more proactive as financial institution to contribute to a better educational system it's one way to fight against inequality in poverty and in our own financial institution there's a second challenge that we that we should do better is diversity in the place of women actually more than a half of the workforce in our financial institution are women but less less than twenty percent are in the senior management team are in the are in the see suit so we have to find new solutions to encourage groups that help women to network together to have access to mentor share examples of a female role models that can bring to our women that are working for our financial institution to have the two earners the potential that they can achieved and men need also our men who works at in our financial institution and also to promote and create conditions that will contribute to see more women to have access to senior management executive department so I set targets and be more proactive to achieve it speaking of target setting Christos the key mechanism of the principles for responsible banking is to set targets where the bank can really have the most significant impact and invariably that will be in the bank's core business so when you think about European banks in which core business areas and on which topics would you expect them to set targets just to say you know the principles you know the it's for banks and especially banks in Europe that you know over the crisis years have been in a way you know kind of in a difficult position is a first-class opportunity to reestablish the role of the banks in society and and showing that the banks are responsible and they are really placing society at the heart of of our activity so that is that is a very important element that we should take into account in terms of action plans you know there have been legislative and non legislative proposals and measures taxonomy benchmarks non-financial disclosures and investors will be able then to make decisions on sustainability and making sure which Bank does what but the sectors that we think that in the forefront of our effort there should be renewable energy energy savings and climate change mitigation projects electric cars green buildings waste water environmental technology forestry agri-food and these are areas were Europe plays a very big role in the transition to a low-carbon economy we need to place all of the into the heart of the strategy and the implementation of of each bank and create the structure that will disseminate that to all employees and at the end of the day this is going to be making the difference in in Europe but also globally okay thank you very much Christos I think to summarize a bet so for Europe we hear that the low-carbon economic transition is a key issue that European banks can contribute to for Latin America I think we hear that natural capital is crucial for the well-being of people and it is a matter of recognizing and understanding the interconnections and the inequality undermines growth currently and banks can play a key role in addressing that by providing access to more financial services for people who don't have that at the moment I think for Africa we hear very clearly the challenge of unemployment especially among youth of decent employment and I think for Asia we hear there has been a focus on fast economic growth but maybe less of sustainable growth and there is a huge need for transferring technology and that's something that banks can support and I think efore for North America I think it's become clear that it's really about helping companies to transition and helping people cope with the transition so I think that gives us a quite interesting view of the challenges and the potential roles we have for banks across different regions while this panel is about the regional aspects I do think it is interesting to take a moment to think about well implementation is going to be region specific but why is it nevertheless important to have a global framework a global language a global vision for the banking industry and maybe not a hiko we want to start with you here yes the principle framework is so important in developing countries typically are the people's awareness even in the banking industry or any stakeholders in order to speak up the importance and appeal the importance of sustainability having the principle or not is a very big difference and this framework is universal the planet ours doesn't have a country border and one country's efforts doesn't solve the problem so the Asian countries as past the first growths are where what we are making we should really need to increase our awareness and everybody think taking into the sustainability when whenever the the the big economic activities are that is really the critical and first point and the principle which really help to increase awareness over the any stakeholders in the region that will help our business - okay thank you very much Adi why is a global framework crucial thank you so well I well I agree that implementation is important for it to be regional because each region has to respond to the particular challenges that it is faced with and it has to design its own solutions and a global framework allows you to learn from each other which i think is a very important part of making sure that there is at least some level of certainty in terms of what is expected to be done and there is you know the thing that says what gets measured gets done and that accountability of setting targets specifying such an action that you are going to take and then measuring that as you go along the way and the transparency of being able to ports that such that you can then have a certain community that holds you accountable to what you have committed to I think it's a very important part of it that as the banks that are here not only do we just give our commitment but we also then have an accountability leg to it and I think I think lastly you know it is important because ultimately it brings standardization and it brings a certain oneness within within the different regions that yeah that that you're in so a global a global framework and allows you to then speak a common language so that we can all be able to strive towards the same thing because when we don't we could be just pulling across across one another okay so really a common language and a learning from each other that this bring me to my last question today it is a hundred and thirty banks signing a commitment but at the same time does this a start of an alliance between the United Nations and the global banking industry so in the spirit of common language and learning from each other what do you expect from the UN and what can the UN expect from you key I think the UN is already helping us to work together and bring around the table maybe not all the players around the globe but that face many many players around the globe will help us to promote an ongoing dialogue shared best practices with all the colleagues in this room and maintain a bar where we will have a year after year to follow the trend and try to be better and better and better so I think you and for this reason is really helpful for us at the same time the financial institution will have to be more tran parent will have to be to collaborate together to cooperate together to share best practices but maybe to be in touch altogether maybe not to look at us as a competitors but sometimes to look at us as really co-operators to see if we can work as one team and to set for us ambitious goals and vicious plans that will help us to to at least follow follow the road follow the path and attain or achieve what we want to achieve I like this image working as one team Carlos working as one team with your peers with the UN what do you expect from both going forward I think it's very important to recognize that what the UN does is address the most important issues and challenges that the world have so I feel very proud and honored to be with all my peers and colleagues here and listening to me and also what Ralph was saying that we are what we're doing here right now is recognizing that we have a challenge a problem in the world that we are since financial institutions can work together I like what he was also mentioning that we can work together and not always be looking at us as competitors because we are recognizing that we can do a difference and make a difference in the world I think also what the secretary-general was mentioning at the beginning it's the only way we can address and be efficient in getting results in challenges like this is by the private and public associations so I think what we're living right now and I feel very honored to be able to be a part of this and the association within the UN and the financial institutions of the world in order for us to work towards a specific challenge that we are all recognizing I think it's something that will be our children will be thankful and I think we take not only the the homework and know that we need to apply this in our regions but also as ralph was mentioning in the beginning that we need to convince the rest of the industry that is not represented here right now to be a part of this thank you very much I think wonderful points towards the end so really the principles for responsible banking are addressing key challenges in your region in the way that it's needed for your region but they're also very much about learning from each other and about understanding that together we can really make a difference in the world thank very much everyone [Applause] ok ladies and gentlemen I think we're drawing to the close that would have been in a busy and inspiring event to launch the principles for responsible banking please allow me to thank all of our speakers from the UN Secretary General Antonio Guterres UN Environment executive director Inger Anderson and the the seven fantastic CEOs from around the world bringing their experience and their desire to work together when addressing some of the global some of the largest challenges we face globally I think the profile the speakers and of the many influential people in this room speaks clearly to the potential and the ambition of the principles it also speaks to the momentum behind putting them into practice and I think it's quite important that's we're hearing these these principles are not just words they define an overarching vision of a new era of responsible banking one based on the understanding that banks can only strive in a stable peaceful and affluent societies one based on the deeper understanding that we cannot have such societies without a healthy planet free from the threats of climate change completed air from ecosystem loss without healthy communities without decent work and respect for the individual a new era of responsible banking or by banks see themselves see for themselves an integral role in realizing sustainable development outcomes in financing the needs of society simply put I'm convinced that this impressive initial coalition of 130 banks from all six continents jointly representing as we here over a third of global banking assets can spark a transformation in the global banking industry now ladies and gentlemen much hard work lies ahead in Fanning this spark in turning the principals into a tool for organizational and even systemic change but I think first I would like to take a moment to acknowledge the effort and commitment that has brought us here and when we talk about the principles we often refer to this core group of thirty banks the founding banks that have led to their development in reality is a core group of individuals within these banks who drove the process a group willing to raise their heads above the parapet and advocate for something they believed in both within the organizations and across their industries when they started down this road success was definitely far from certain to get such a huge share of the banking industry onboard is testament to their patience and their persistence they've dreamed they planned they cold they badgered and made themselves exactly the kind of nuisance the world needs right now on so many levels from the streets to the boardrooms to the elected office so yes this is a collective effort we all have a lot of work to do but these individuals deserve some some specific recognition therefore I would like to ask all those from the core group or here today if they could rise please not sorry not the or the the banks the the working group members they're not all present I believe we can put up on the screen the list of names involved and I ask you to get up thank you [Applause] and I'll also get like to give a special thank you to the CEO is that you've given your team you've inspired them you've given them room to essentially to say go and work on this thing that sounds a little bit strange work together tell me if it makes sense and you've given in the backing and that's brought you here today and this is only the beginning ok so thank you very much now we must turn to what comes next and I think to make this transformation effective will not be easy to build the capacity to identify sustainable development impacts to set business targets to deliver them at scale and to be accountable for progress is not simple implementing the principles for responsible banking and sparking change will be a challenge for every signatory but as of today as we've heard on this recent panel you're part of a global coalition working towards the same goals you will learn from each other advance together jointly develop solutions and tackle the challenges that will come with this journey you will no doubt also compete as climate action and the sustainable development goals will require trillions of dollars in financing and the first movers into this space will become the leading responsible banks of tomorrow when the term responsible maybe is even no longer needed as it's a given true leadership will mean moving from the opportunistic to the strategic from business case to business imperative it's no longer enough to buy a few green bonds or to issue them or make a few renewables investments and say that you are green and ready for the changes ahead the progress going forward will be about a fuller scale institutional realignment with sustainable development scaling up the green but also turning down the brown and having the leadership the culture of the management the products and the full value chain needed to turn the ship one third of the global banking industry believes starting today the principles for responsible banking are a tool for navigating their way forward we in the UN are here to support you to guide you and facilitate your advancement as a group and as an industry we look forward to working with you and again thank you to all of the CEOs who have shown up today all of the representatives from all 130 banks UN representatives and all participants to this event I hope to see many of you tomorrow or we'll have a full day to dive into them for implementation of principles with many of the CEOs we'll be speaking but also quite a number of technical sessions to go into the details of how we're going to get there so thank you very much and good continuation let's get started [Applause] that's it for debt today thank you very much I would call the core group of individuals we will be taking a photo the ones who I had mentioned we'd like to thank afterwards if they could stay back but for everyone else thank you very much for today and we look forward to working together [Music] [Music] [Music] [Music]