Global network of sustainable banks plots better future for banking

Friday, 4 March 2011 03:54 - - {{hitsCtrl.values.hits}}

[PRESSWIRE] 03.03.11 -- Leaders of the world’s sustainable banks come together to remake modern banking in challenging times, at the third meeting of the Global Alliance for Banking on Values (GABV)

The world’s only network of independent banks that combine poverty and environmental issues, meets in Lima today to build a positive future for the banking industry. The GABV intends to use its third annual meet to help fulfil an ambition to touch the lives of a billion people with sustainable banking by 2020.

The group of thirteen banks intends to do it by collectively raising substantial new capital, training and developing a new generation of sustainable bankers, building a consistent way to measure the impact of sustainable banking globally, and expanding the network itself. The banks are hosted by leading Peruvian microfinance bank and founding GABV member, Mibanco, and will meet for four days in Lima and Ica. “If it has taught us anything the financial crisis has shown us that the world’s banking industry is in urgent need of positive change,” said Luis-Felipe Derteano, Chair of Grupo ACP, Mibanco’s parent company at a special launch event in Lima.

“The members of the Global Alliance for Banking on Values start with a human need and find an economic way to meet it. And that makes all the difference. We are delighted to welcome them to Peru, to build a better future for banking that serves the needs of millions of people across the globe.”

“The world faces a number of crises and, whether we like it or not, banks will play a fundamental role in dealing with them,” said Peter Blom, Chair of the GABV, and CEO of European sustainable bank, Triodos Bank. “The values of these banks will determine whether this responsibility is taken on in the interests of the long-term future of people and the environment, or it continues to be driven by short-term profit. The Global Alliance for Banking on Values’ members are financially robust institutions that offer an inspiring glimpse of what mainstream banking could become.”