Banco Pichincha, one of the 30 founders of the United Nations’ Principles for Responsible Banking

Banco Pichincha became the only Ecuadorian financial entity and one of three from Latin America to participate in creating the Principles for Responsible Banking in collaboration with the United Nations Environment Programme Finance Initiative (UNEP FI). Along with 129 other banks around the world, it solidified its commitment to sustainability and best environmental practices as a founding signatory of the initiative.

Prior to the UN’s Climate Action Summit in New York on September 23, the signatory banks committed to strategically aligning their business with the Sustainable Development Goals and the Paris Agreement on Climate Change. The 130 entities willing to take a leading role in achieving a sustainable future add up to around 47 trillion dollars in assets.

By subscribing to the Principles, “we commit to identifying, measuring and increasing the positive impacts resulting from our activity. The financial sector is a catalyst for the economy and, as a result, if we align our management with sustainability principles, we will become an entity that multiplies best practices that benefit the business and productive sectors in the countries in which we operate,” said Antonio Acosta, President of Banco Pichincha Ecuador.

6 Principles through which we contribute to shaping our future

“Global leaders will share the actions they are taking to achieve the Sustainable Development Goals and end the climate crisis,” said António Guterres, Secretary-General of the United Nations, at the launch event. “The Principles for Responsible Banking represent a significant advance towards a sustainable economy (…) I applaud the signatory banks of the Principles and ask that they immediately begin the arduous task of making good on their promises,” added the UN leader.

The six Principles for Responsible Banking are backed by a solid implementation framework that defines clear responsibilities. Furthermore, it creates a common guide for financial entities to grow while reducing risks and ensuring the economic and social transformation necessary for a sustainable future.

As expressed in the Principles for Responsible Banking, Banco Pichincha is convinced that “only in an inclusive society founded on human dignity, equality and the sustainable use of natural resources can our customers and businesses thrive.”

This commitment strengthens the sustainable finance model that Banco Pichincha has developed in Ecuador through various initiatives such as its bio credit offer. With these bio credits, the bank aims to boost green projects and access to ecological transportation and housing, thus contributing to caring for the environment and improving its customers’ quality of life.