A Note from Dr. Marcos Eguiguren, GABV Executive Director
Another busy quarter is behind us. The past three months marked some important events and milestones achieved for the Global Alliance for Banking on Values. We hosted our Annual Meeting in Nepal, updated our Research “Real Economy – Real Returns: A Continuing Business Case for Sustainability-focused Banking”, partnered with new institutions, welcomed a new member bank, and much more.
I will start with extending welcome to our newest member who joined the GABV in the last quarter – The First Microfinance Bank Tajikistan. We have officially partnered with three organizations who are working on and promoting the same concepts as we do. I wish to welcome our new partners Asociación de Universidades Confiadas a la Compañía de Jesús en América Latinan (AUSJAL); CEMS and Oikocredit.
This marks a milestone in member and partner increase making the Global Alliance bigger than ever. At this moment, the Global Alliance comprises 40 members and seven partners coming from all around the world. Together, we are continuing our work and a shared mission to use finance to deliver sustainable economic, social and environmental development, with a focus on helping individuals fulfil their potential and build stronger communities.
Our updated research report “Real Economy – Real Returns: A Continuing Business Case for Sustainability-focused Banking” shows again that the sustainability-focused banks are continuing to deliver stable risk-adjusted financial returns by focusing on the real economy. They are acting as financial intermediaries dedicated to supporting economic, social and environmental impact while remaining strong capital positions. We can find these banking institutions in different markets, all serving diverse needs but they all are using specific business models driven by a set of common guidelines, the Principles of Sustainable Banking. One of the reasons why these banks are growing in size and number is because they are meeting the needs of individuals and enterprises in the local communities.
Meeting the needs of individuals and enterprises in the local communities was one of the focuses of our Annual Meeting. This year the GABV members, partners and guests gathered in beautiful Kathmandu, Nepal, proudly hosted by our local member bank NMB Bank. We are everlastingly grateful for all their hospitality and their work done during the Annual Meeting, making it a remarkable success. At the moment, we are preparing an internal edition of eZine that will cover in detail everything that was discussed and agreed during the Meeting, including the Kathmandu Pledge, currently being finalized. The Kathmandu Pledge is designed to be a follow up to the Berlin Declaration and to further advance the GABV and banking on values mission to change finance to finance change.
Inspired by Nepal and all its culture and history, I want to share wise words of the Buddha, “When watching after yourself, you watch after others. When watching after others, you watch after yourself.” And I leave you to explore this edition of eZine. We hope you will find inspiration to keep doing a wonderful job and continue supporting the BankingOnValues movement.
Only by looking after each other, we can become the people we set out to be.