National Bank claims a first among North American banks

by Steve Randall30 Aug 2019

National Bank of Canada has become a signatory to the United Nations Principles for Responsible Banking.

National becomes the first bank in North America to make the commitment which sets out six key principles for sustainable and accountable banking worldwide.

"For a long time, we've believed that the long-term sustained shareholder return of an institution like ours depends on our ability to maintain a healthy balance between the interests of our various stakeholders. The Principles for Responsible Banking will help us strengthen this approach and continue to play a key role in the economic and social development of the communities we serve. We're proud to be one of the founding signatories of this initiative, which will have a positive impact on current and future generations alike," stated Louis Vachon, President and CEO of National Bank of Canada.

The six principles are:

  1. Alignment
  2. Impact & Target Setting
  3. Clients & Customers
  4. Stakeholders
  5. Governance & Culture
  6. Transparency & Accountability

The UN Principles will officially launch on September 22, 2019, by which date 100+ banks and banking industry institutions are expected to officially endorse them.

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