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2019 2021 2023
Banks join the sustainable finance movement
By 2019 , according to data from NatWast – a founding member of the UNEP Finance Initiative – a third of the world ’ s banks ( 197 ) had joined the Responsible Banking Initiative . Signatory banks have to commit to taking three key objectives to improve the impact of their services in a sustainable capacity .
Sustainable lending changes
By 2021 , the sustainable banking sector had developed strong regulatory practices surrounding lending . In May of that year , the rules around SLLPs ( Sustainability- Linked Loan Principles ) were further tightened and clarified to reflect key performance indicators that would fully support the sustainable banking objectives and borrower performance .
2023 and beyond
The future of sustainable finance involves going mainstream , with banks of all sectors launching new products that support the sustainability agenda . Customers at a grassroots level will be given the opportunity to select , or opt out of , products that offer personalised suggestions regarding purchases made and their environmental impact .
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