RESOURCES
The values-based banking library
Explore our stories, read our articles, and access research and position papers that showcase how values-based banks use finance to deliver social and environmental positive impact.
Stories
from GABV
Values-based banks use business as usual to intentionally create positive change. They innovate banking products and services and engage with partners to provide solutions to social and environmental issues in the communities they serve. Here are some examples of best practices.
Research
The Global Alliance for Banking on Values (GABV) publishes research and case studies to reinforce and explore the business case for the growing values-based banking practice. Much of this work is carried out in collaboration with academic and like-minded institutions, ensuring a strong evidence base and diverse perspectives.
Through the GABV Academic Network, we also connect scholars worldwide to advance research, foster teaching, and advocate for a more sustainable and inclusive banking model.
All
Annual Research
Case studies
Reports and publications
- Annual Research
Real Economy-Real Returns 2012
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
· What support does a bank provide to the real economy?
· How resilient is a bank in the face of economic challenges?
· What returns does a bank provide to society, clients and investors?
· What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2012
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
· What support does a bank provide to the real economy?
· How resilient is a bank in the face of economic challenges?
· What returns does a bank provide to society, clients and investors?
· What growth does a bank achieve to expand its impact?
- Case studies
Banking as if society matters: The case of Triodos Bank (2011)
This case study by Dr. Katrin Kaeufer (Presencing Institute, Massachusetts Institute of Technology and GABV Leadership Academy) outlines what can be learned from Triodos Bank about the role of banking in addressing societal issues.
Banking as if society matters: The case of Triodos Bank (2011)
This case study by Dr. Katrin Kaeufer (Presencing Institute, Massachusetts Institute of Technology and GABV Leadership Academy) outlines what can be learned from Triodos Bank about the role of banking in addressing societal issues.
Bank with values to improve the world and the people (2016)
Case about Triodos Bank in Spain written by Raffaele Manini and Oriol Amat, UPF Barcelona School of Management.
Greenhouse Gas (GHG) Accounting Case Studies (2021)
Three independent case studies around challenges, opportunities and learnings from GABV banks that have adopted the PCAF Standard. In collaboration with CEMS and the London School of Economics.
- Annual Research
Real Economy-Real Returns 2013
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
· What support does a bank provide to the real economy?
· How resilient is a bank in the face of economic challenges?
· What returns does a bank provide to society, clients and investors?
· What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2013
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
· What support does a bank provide to the real economy?
· How resilient is a bank in the face of economic challenges?
· What returns does a bank provide to society, clients and investors?
· What growth does a bank achieve to expand its impact?
- Annual Research
Real Economy-Real Returns 2014
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2014
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
- Annual Research
Real Economy-Real Returns 2015
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2015
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
- Annual Research
Real Economy-Real Returns 2016
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2016
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
- Annual Research
Real Economy-Real Returns 2017
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2017
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
Where Money Moves Matters (2017)
This book tells some success stories from GABV members that explain how some values-based banks have influenced a systemic change that improved their communities and the economy.
- Annual Research
Real Economy-Real Returns 2018
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2018
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
New pathways: Building blocks for a sustainable finance future in Europe (2017)
A white paper in collaboration with Finance Watch and Mission 2020 to influence the High-Level Expert Group on Sustainable Finance of the European Commission.
Do sustainable banks outperform? (2019)
This collaborative research by the European Investment Bank (EIB), the GABV, Deloitte and KKS Advisors finds that commercial banks with higher environmental, social and governance (ESG) standards outperform others.
The gender journey of the GABV in Latin America (2020)
This research, in collaboration with FMO and Fundación Avina, analysed how values-based banks in Latin America serve the women’s market.
- Reports and publications
Social Impact Value of Values-based Banks (2021)
This paper expands our understanding of how values-based banks define, design, implement, monitor and scale-up social impact in their daily operations and lending. In collaboration with the Pompeu Fabra University.
Social Impact Value of Values-based Banks (2021)
This paper expands our understanding of how values-based banks define, design, implement, monitor and scale-up social impact in their daily operations and lending. In collaboration with the Pompeu Fabra University.
- Annual Research
Real Economy-Real Returns 2019
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2019
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
- Annual Research
Real Economy-Real Returns 2020
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
Real Economy-Real Returns 2020
Since 2012, the GABV has released an innovative report comparing the financial performance of values-based banks with the world’s largest banks, the global systemically important financial institutions, or GSIBs.
This annual research focuses on the following key questions:
– What support does a bank provide to the real economy?
– How resilient is a bank in the face of economic challenges?
– What returns does a bank provide to society, clients and investors?
– What growth does a bank achieve to expand its impact?
MagNet Bank Case Study (2021)
This case study presents if and how MagNet Bank, in Hungary, is an industry game-changer for the financial sector. The study is part of the VALoRE project and is funded by the Open Society Foundations.
The Changing Role of Banks in the Financial System: Social Versus Conventional Banks
This working paper explores the multidimensional characteristics of social banks within the global banking industry.
Real Economy – Real Returns 2021
The “2021 Real Economy-Real Returns” study covers 10 years of annual research (2011-2020) comparing financial data from values-based banks and the Global Systemically Important Banks.
- Reports and publications
Ebook: Shaping a Positive Future in a Changing World
To change the world for good, first you need to understand it. This ebook provides a space to hear from experts on some of tomorrow’s most pressing social and environmental global issues, so we can use values-based finance to address them today.
Ebook: Shaping a Positive Future in a Changing World
To change the world for good, first you need to understand it. This ebook provides a space to hear from experts on some of tomorrow’s most pressing social and environmental global issues, so we can use values-based finance to address them today.
- Case studies
Banca Etica Case Study (2022)
This report shows how Banca Etica delivers positive social impact alongside real economic value. It does so by including social criteria in the credit process as a foundation for rethinking risk, supported by a broadening engagement with clients and other stakeholders. The study is part of the VALoRE project and is funded by the Open Society Foundations.
Banca Etica Case Study (2022)
This report shows how Banca Etica delivers positive social impact alongside real economic value. It does so by including social criteria in the credit process as a foundation for rethinking risk, supported by a broadening engagement with clients and other stakeholders. The study is part of the VALoRE project and is funded by the Open Society Foundations.
- Case studies
GLS Bank Case Study (2022)
This case study shows how GLS Bank is using a social-ecological approach. Through this holistic lens, the bank integrates both social and environmental visions of the future into decisions and activities, along with the requirement for societies to respect planetary ceilings and social floors.
GLS Bank Case Study (2022)
This case study shows how GLS Bank is using a social-ecological approach. Through this holistic lens, the bank integrates both social and environmental visions of the future into decisions and activities, along with the requirement for societies to respect planetary ceilings and social floors.
- Case studies
GABV Climate Leader Case Study (2022)
In 2022, the GABV was recognised for our pioneering work in climate finance by the Finance for the Future Awards. This case study explores our approach to values-based banking and highlights our successful collaboration with the Partnership for Carbon Accounting Financials.
GABV Climate Leader Case Study (2022)
In 2022, the GABV was recognised for our pioneering work in climate finance by the Finance for the Future Awards. This case study explores our approach to values-based banking and highlights our successful collaboration with the Partnership for Carbon Accounting Financials.
- Case studies
Managing Strategic and Cultural Change In Organization – Jaap Boonstra
The need for change within organizations is not uncommon in a world full of technological, political, and cultural transformations. But how can organizations effectively transform themselves in a global world and what can leaders and professionals do to effect meaningful change successfully? This article outlines a model that shows strategic and cultural transformation as an ongoing process.
Managing Strategic and Cultural Change In Organization – Jaap Boonstra
The need for change within organizations is not uncommon in a world full of technological, political, and cultural transformations. But how can organizations effectively transform themselves in a global world and what can leaders and professionals do to effect meaningful change successfully? This article outlines a model that shows strategic and cultural transformation as an ongoing process.
- Reports and publications
Values Based and Global Systemically Important Banks
This report studies the financial stability of Values-Based Banks (VBBs) and Global Systemically Important Banks (GSIBs), and how regulatory changes in the aftermath of the financial crisis affected bank stability. These two types of banks allow contrasting an environmental and social impact banking approach to a conventional one.
Values Based and Global Systemically Important Banks
This report studies the financial stability of Values-Based Banks (VBBs) and Global Systemically Important Banks (GSIBs), and how regulatory changes in the aftermath of the financial crisis affected bank stability. These two types of banks allow contrasting an environmental and social impact banking approach to a conventional one.
- Reports and publications
Embedding Value Based Principles in the Culture of Islamic Banks
Value-based banks strive to build a self-sustaining banking model with inclusive and transparent governance that is sustainable and resilient to external disturbances. Initiatives for value-based intermediation in Islamic finance started in Malaysia. The growth in VBIBs is accompanied by claims about its relative resilience to crisis and efficiency compared to VBBs and conventional banks. However, little empirical evidence is available to support such claims. This study aims to analyze the resilience and efficiency of VBIBs compared to the VBBs and GSIBs.
Embedding Value Based Principles in the Culture of Islamic Banks
Value-based banks strive to build a self-sustaining banking model with inclusive and transparent governance that is sustainable and resilient to external disturbances. Initiatives for value-based intermediation in Islamic finance started in Malaysia. The growth in VBIBs is accompanied by claims about its relative resilience to crisis and efficiency compared to VBBs and conventional banks. However, little empirical evidence is available to support such claims. This study aims to analyze the resilience and efficiency of VBIBs compared to the VBBs and GSIBs.
- Case studies
Caso GABV: jugando con paradojas en alianzas basadas en valores
La experiencia de la Global Alliance for Banking on Values (GABV) y el análisis de cómo ha afrontado las paradojas en el curso de su trayectoria proporcionan
una idea sobre las dinámicas de las alianzas impulsadas por valores y sobre cómo lidiar con las contradicciones que se dan en las diferentes etapas de vida
de estos acuerdos. Además, este caso sirve de inspiración para las personas que desean contribuir a un mundo mejor en asociación con otros
Caso GABV: jugando con paradojas en alianzas basadas en valores
La experiencia de la Global Alliance for Banking on Values (GABV) y el análisis de cómo ha afrontado las paradojas en el curso de su trayectoria proporcionan
una idea sobre las dinámicas de las alianzas impulsadas por valores y sobre cómo lidiar con las contradicciones que se dan en las diferentes etapas de vida
de estos acuerdos. Además, este caso sirve de inspiración para las personas que desean contribuir a un mundo mejor en asociación con otros
- Reports and publications
Perspectivas de la banca responsable. España 2023
El propósito de este estudio es llevar a cabo un análisis comparativo, cualitativo y cuantitativo, de cómo los diez bancos españoles que suscribieron los Principios de Banca Responsable (PRB) están implementando los conceptos de finanzas sostenibles.
Perspectivas de la banca responsable. España 2023
El propósito de este estudio es llevar a cabo un análisis comparativo, cualitativo y cuantitativo, de cómo los diez bancos españoles que suscribieron los Principios de Banca Responsable (PRB) están implementando los conceptos de finanzas sostenibles.
- Reports and publications
Perspectives on Responsible Banking in Spain 2023
The purpose of this study is to carry out a comparative, qualitative and quantitative analysis of how the ten Spanish banks that have signed up to the Principles for Responsible Banking (PRB) are implementing the concepts of sustainable finance. The methodology applied in the study is the GABV Scorecard, developed around the six principles that define banking with values.
Perspectives on Responsible Banking in Spain 2023
The purpose of this study is to carry out a comparative, qualitative and quantitative analysis of how the ten Spanish banks that have signed up to the Principles for Responsible Banking (PRB) are implementing the concepts of sustainable finance. The methodology applied in the study is the GABV Scorecard, developed around the six principles that define banking with values.
- Reports and publications
2023 G20 Sustainable Finance Report Volume II
This Report assimilates the work carried out by the Sustainable Finance Working Group (SFWG)
under the Indian G20 Presidency in 2023, in its pursuit to identify institutional and market barriers
to sustainable finance, and to develop options to overcome such barriers, and contribute to a
better alignment of the international financial system to the objectives of the 2030 Agenda and
the Paris Agreement.
2023 G20 Sustainable Finance Report Volume II
This Report assimilates the work carried out by the Sustainable Finance Working Group (SFWG)
under the Indian G20 Presidency in 2023, in its pursuit to identify institutional and market barriers
to sustainable finance, and to develop options to overcome such barriers, and contribute to a
better alignment of the international financial system to the objectives of the 2030 Agenda and
the Paris Agreement.
- Reports and publications
Mejores prácticas para la transformación sostenible del sector financiero
Este informe describe nueve características fundamentales de los bancos normales frente a los bancos con valores, destacando las oportunidades de aprovechar estas iniciativas probadas localmente. Esboza los elementos a tener en cuenta a la hora de crear una estrategia para todo el sector, con el fin de proporcionar una vía de futuro para la industria bancaria. Escrito por la Global Alliance for Banking on Values y la Nyenrode Business University (Países Bajos), con el apoyo de Open Society Foundations.
Mejores prácticas para la transformación sostenible del sector financiero
Este informe describe nueve características fundamentales de los bancos normales frente a los bancos con valores, destacando las oportunidades de aprovechar estas iniciativas probadas localmente. Esboza los elementos a tener en cuenta a la hora de crear una estrategia para todo el sector, con el fin de proporcionar una vía de futuro para la industria bancaria. Escrito por la Global Alliance for Banking on Values y la Nyenrode Business University (Países Bajos), con el apoyo de Open Society Foundations.
- Reports and publications
Best Practices for Sustainable Market Transformation in the Financial Sector
This report outlines nine core features of regular banks versus values-based banks, highlighting the opportunities to build on these locally proven initiatives. It outlines elements to consider when creating a sector-wide strategy, in order to provide a future pathway for the banking industry. Written by the Global Alliance for Banking on Values and the Nyenrode Business University (The Netherlands), with the support of Open Society Foundations.
Best Practices for Sustainable Market Transformation in the Financial Sector
This report outlines nine core features of regular banks versus values-based banks, highlighting the opportunities to build on these locally proven initiatives. It outlines elements to consider when creating a sector-wide strategy, in order to provide a future pathway for the banking industry. Written by the Global Alliance for Banking on Values and the Nyenrode Business University (The Netherlands), with the support of Open Society Foundations.
- Reports and publications
From financing change to changing finance
This paper sets out why is it important to go deeper into the systemic dysfunctionality of our current
financial system and shift from today’s predominant doctrine of ‘financing change’ towards a ‘change
finance’ agenda and why this is a crucial building block from a system change perspective. ‘Change
finance’ is not the outcome of a new economy but the very prerequisite of changing the way we want
to meet the needs of humans on a finite planet.
From financing change to changing finance
This paper sets out why is it important to go deeper into the systemic dysfunctionality of our current
financial system and shift from today’s predominant doctrine of ‘financing change’ towards a ‘change
finance’ agenda and why this is a crucial building block from a system change perspective. ‘Change
finance’ is not the outcome of a new economy but the very prerequisite of changing the way we want
to meet the needs of humans on a finite planet.
- Reports and publications
Financiar la Guerra. Financiar la Paz. Cómo la Banca con Valores promueve la paz en un mundo cada vez más conflictivo
Este informe examina la exposición de la industria financiera a la producción y el comercio de armas utilizadas en conflictos a gran escala en todo el mundo, en contraste con la visión de la banca con valores.
Financiar la Guerra. Financiar la Paz. Cómo la Banca con Valores promueve la paz en un mundo cada vez más conflictivo
Este informe examina la exposición de la industria financiera a la producción y el comercio de armas utilizadas en conflictos a gran escala en todo el mundo, en contraste con la visión de la banca con valores.
- Reports and publications
Finance for War. Finance for Peace. How Values-Based Banks Foster Peace in a World of Increasing Conflict
This report examines the exposure of the financial industry to the production of, and trade in, arms used in large scale conflicts around the world, in contrast with the vision and practice of values-based banking.
Finance for War. Finance for Peace. How Values-Based Banks Foster Peace in a World of Increasing Conflict
This report examines the exposure of the financial industry to the production of, and trade in, arms used in large scale conflicts around the world, in contrast with the vision and practice of values-based banking.
Position papers
Through position papers on global issues and key topics, the Global Alliance for Banking on Values contributes to the discussion of the role and responsibility of the financial sector based on the policies and practices of its member banks.
Articles
Interview
Where Your Money Sleeps Matters: A Q&A with Beneficial State Bank Chief Impact Officer Terra Neilson
Long read
The 2026 Global Alliance for Banking on Values Annual Meeting spotlights the future of inclusive and equitable finance
Interview