AFRICA: Changing the Narrative

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Principles for Responsible Banking

September 22, 2019

On 22 September 2019, Standard Bank Group became a founding signatory to the UN Principles for Responsible Banking. Alongside the UN Secretary-General António Guterres, Standard Bank signed the first-ever global sustainability framework for the banking industry and committed to aligning its business strategy and practice with the Sustainable Development Goals and the goals of the Paris Climate Agreement.

Sola David-Borha, Standard Bank Group’s Chief Executive for Africa Regions, signed the Principles for Responsible Banking document on behalf of the group, which played a role in developing the framework.

In this podcast, Sola David-Borha is speaking with CEO, Teresa Clarke. 

“The Principles align with Standard Bank’s purpose: to drive Africa’s growth and uplift her people by doing business the right way. They also support the group’s drive to maximise our social, economic and environmental impacts,” David-Borha says. “Standard Bank sees an opportunity to have a significant impact across the continent, given that we have the largest African footprint of all participating banks.”

The new framework, which has been designed for banks at any stage on their journey to sustainability came not a minute too soon. The COVID-19 pandemic, which took hold just as Standard Bank and other signatories were starting to implement the Principles, has served to highlight how reliant society is on healthy ecosystems and resilient economies.