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Landsbankinn becomes a founding signatory of the UN’s Principles for Responsible Banking

Lilja Björk Einarsdóttir, CEO of Landsbankinn, with the signatory Bank Chief Executive Officers (CEOs) of the Principles for Responsible Banking and Secretary-General António Guterres (centre).

Lilja Björk Einarsdóttir, CEO of Landsbankinn, signed the Principles for Responsible Banking at the UN General Assembly in New York on September 22nd. In so doing, Landsbankinn joins a coalition of 130 banks from around the world. The Principles are intended to strategically align financial activity with the Sustainable Development Goals and the Paris Agreement on Climate Change.

Taking place at the start of the UN General Assembly, the official launch of the Principles for Responsible Banking marked the beginning of the most significant partnership to date between the global banking industry and the UN.

Antonio Guterres, UN Secretary-General: “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.”

Lilja Björk Einarsdóttir, CEO of Landsbankinn: “We clearly face significant social and environmental challenges. Landsbankinn is Iceland’s largest commercial bank, one of the country’s largest employers with close ties to key industries, all dependant on responsible utilisation of resources and on-going welfare. It is important to integrate social responsibility with the Bank’s core operations and the day-to-day decision-making process.”

The Principles for Responsible Banking were developed by a core group of 30 international banks through an innovative global partnership between banks and the UNEP Finance Initiative (UNEP FI). The Principles for Responsible Banking are supported by a strong implementation and accountability framework. By signing them, the banks commit to focusing where they have the greatest impact – in their core business – and set, publish and implement ambitious targets to scale up positive and address any negative impacts in line with global and local goals.