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Climate Change Commitment

At the Vancouver 2019 Annual Meeting, the Global Alliance for Banking on Values announced its Climate Change Commitment initiative in which members voluntarily commit to measure and report the carbon footprint of their loans and investment portfolios within a period of three years in alignment with the Paris Agreement.

The initiative, otherwise known as the ‘3C initiative’, is part of the Global Alliance for Banking on Values’ larger commitment to spearhead positive change among the financial industry on pressing social and environmental issues. The participating institutions intend to influence the wider banking sector by demonstrating that banks can assess and report on their greenhouse gas emissions.  

The ‘Climate Change Commitment’ (3C initiative)states that: 

The members of the Global Alliance for Banking on Values have pioneered responsible finance proving, on a daily basis, that positive impact can be at the heart of everyday banking. Together they have financed positive social, environmental and cultural change all over the world. Addressing the urgent challenge of climate change, and decarbonising our economy, is only one part of this work, but it is more urgent now than ever. That is why the GABV’s 3C initiative members have committed to assess and disclose the climate impact of their portfolio of loans and investments within a period of three years, and ultimately to ensure the climate impact of their loans and investments are in line with the Paris Agreement. 

The list of participating banks and credit unions who have agreed to the Climate Change Commitment (*as of June 2021) include: 

  1. Alternative Bank Schweiz (Switzerland)
  2. Amalgamated Bank (USA)
  3. Banca Etica (Italy)
  4. BancoSol (Bolivia)
  5. Banco Popular (Honduras)
  6. Bank Muamalat (Malaysia)
  7. Beneficial State Bank (USA)
  8. BRAC Bank (Bangladesh)
  9. Caisse d’économie solidaire Desjardins (Canada)
  10. Charity Bank (UK)
  11. Clearwater Credit Union (USA)
  12. Cooperativa Abaco (Peru)
  13. Cooperative Bank of Karditsa Coop.L.L. (Greece)
  14. Crédit Coopératif (France)
  15. Cultura Sparebank (Norway)
  16. Ecology Building Society (UK)
  17. Ekobanken (Sweden)
  18. ESAF Small Finance bank (India)
  19. GLS (Germany)
  20. LAPO Microfinance Bank Limited (Nigeria)
  21. MagNet (Hungary)
  22. Merkur (Denmark)
  23. NMB Bank (Nepal)
  24. Opportunity Bank Serbia (Serbia)
  25. SAC Apoyo Integral, S.A. (El Salvador)
  26. Sunrise Banks (USA)
  27. Triodos Bank (Europe)
  28. Vancity (Canada)
  29. Verity Credit Union (USA)
  30. Visión Banco (Paraguay)
  31. UmweltBank (Germany)
  32. VSECU (USA)
  33. XacBank (Mongolia)

Image by Alleksana

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