As a movement of frontrunners, the Global Alliance for Banking on Values (GABV) wants to commit and influence the industry and its stakeholders to act further, go faster and be coherent in addressing climate change.
Our position
There is an increasing consensus about the critical role finance must play to address climate change. But there remains a profound disconnect between commitments and action. Enormous quantities of finance continue to flow to unsustainable activities.
We aim for a holistic understanding of the impact of climate change upon our clients and communities and how we can help them transform and adapt. Finance is here to serve people and planet, not the other way around. As frontrunners in sustainable finance, we must lead the way.
Read how we define our leadership in climate finance.
Our commitment
The GABV commits to strengthening our members in their transformation by providing resources and know-how, enabling knowledge sharing and exchange, and advocating for rules and regulations that are enabling and not hindering change.
Our members co-created the Climate Change Commitment (3C) initiative. Signatories voluntarily commit to measure and report the greenhouse gas footprint of their loans and investment portfolios within a period of three years.
How we implement our commitment
Almost all of the 3C initiative signatories use the Partnership for Carbon Accounting Financials (PCAF) methodology to measure and disclose the greenhouse gas emissions of their loans and, where relevant, investments. PCAF’s Global GHG Accounting and Reporting Standard is increasingly seen as the leading methodology of its kind for the financial Industry.
The GABV is an important partner in PCAF and sits on its global Steering Committee. The network and its members helped to internationalise the initiative in its early years and expand its reach and impact ever since.
More than 30 banks from the GABV have signed the PCAF initiative. In addition, GABV members are active in working groups to develop and/or adapt the PCAF methodology so it can be applied by different institutions wherever they are in the world.
PCAF is a powerful example of how values-based banks can collaborate to play an important role in translating a values-driven agenda into positive, systemic change.
Learn more about our Climate action
Foundation of the Global Alliance for Banking on Values (GABV)