In a world facing a climate emergency and rising inequality, many financial institutions now look to become greener and more inclusive. Beyond sustainable product offering, it’s become more apparent that the need to use finance to tackle social inequality and environmental challenges has never been greater.
Why is banking on values so important?
Finance plays an important role in shaping our society. Many people depend on access to finance to reach their full potential and this can impact our communities, environment, and economic future. By deciding how to allocate funds, banks are important agents of change.
Having a values-driven approach to banking, many banks across the world have a shared goal to put finance at the service of people and the planet. These organisations form the Global Alliance for Banking on Values (GABV) which aims to build resilient, inclusive communities and are driven by their values to act as role models for sustainable finance.
Founded in 2009, the GABV is a growing network of more than 60 financial institutions operating in 40 countries across the globe. All of whom are committed to using money to deliver positive social and environmental impact.
Australian Mutual Bank is proud to be an Associate Member of the GABV, having a strong commitment to ethical business practices which aligns with the principles of GABV to deliver sustainable economic, social and environmental development.
Every year, an Annual Meeting is held for members of the GABV community to reflect, discuss, and look towards the year ahead with a renewed sense of purpose and energy. A product from the meeting is the GABV eBook ‘Shaping a Positive Future in a Changing World’, which is free to download and includes input from leading climate scientists, entrepreneurs, academics and economists. Their contributions in the eBook appear in the form of interviews or articles derived from the presentations and discussions. All address issues of relevance to anyone interested in developing a financial system that’s fit for a fairer, greener and more inclusive future.