Values-based banking: Bringing the Voice of the Citizen into Finance
Today’s financial system is in many ways too large, too complex, and too removed from the real economy. It has become focused on short-term profit maximisation, it does not pay enough attention to social and environmental risks, and it leaves 2.5 billion people without access to adequate or any financial services.
Banks play an important role in the economy intermediating between savers and borrowers. As such the role banks can play in contributing to or undermining sustainable development is profound. Values-based banking is purposively oriented towards the development of a sustainable economy.
Article courtesy of Green Growth Knowledge Platform.
Source: United Nations Environment Programme (UNEP) Inquiry into the Design of a Sustainable Financial System
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