Banca MPS signs the united nations’ “principles for responsible banking”
Yesterday in New York, MPS Chair, Stefania Bariatti, signed the United Nations Principles for Responsible Banking.
The oldest bank in the world has been contributing to a sustainable development model for over five centuries and is committed to cooperate for the development of a more balanced economy
Siena, 23 September 2019 – Banca Monte dei Paschi di Siena has officially signed the United Nations Environment Programme – Finance Initiative (UNEP FI) Principles for Responsible Banking, becoming one of the 130 founding signatory banks in the world. The programme was developed through an innovative, global partnership between financial institutions and the United Nations and aims at promoting initiatives to foster the development of a sustainable banking sector, in line with the United Nations 2030 Agenda and with the 2015Paris Agreement on Climate Change.
The Principles intend to support the integration of sustainability in all business areas, in order to create long-term value for all stakeholders. As financial intermediaries, banks can indeed play a key role in society, being in a unique position to decisively contribute to steer economic growth along a sustainable path.
The Principles for Responsible Banking were officially launched yesterday, September 22nd, just before the beginning of the plenary session of the United Nations General Assembly in New York, with the intervention of the UN Secretary-General Guterres as well as representatives of more than 130 banks from 46 countries, which together account for $47 trillion in assets and more than a third of the global banking sector. Chairperson Stefania Bariatti spoke on behalf of Banca Monte dei Paschi di Siena to reiterate the importance for MPS of being one of the programme’s supporters. By signing the Principles, Banca Mps, alongside a global coalition of banks, endeavours to become a leading player in the transformation of the banking sector towards a more sustainable business model.
“Monte dei Paschi di Siena is the oldest bank in operation in the world today and has always been committed to contributing to a model of sustainable development for the communities in which it operates. By becoming members and signing the Principles for Responsible Banking we intend to strengthen our commitment to a sustainable development model and share excellent practices with a network of financial institutions allied in pursuing these goals.” Stefania Bariatti, Chair of Banca Mps, said. Companies, nowadays, are required not only to create jobs and distribute profits to shareholders, but to contribute to the general well-being of society. By signing this agreement, Banca MPS wants to play a leadership role and help support and accelerate the fundamental changes in our economies and lifestyles necessary to achieve shared prosperity for current and future generations.
Sustainability is a value that has been an integral part of MPS’ history since its origin in 1472, when it was founded as “Monte Pio” at the behest of the Magistracies of the Republic of Siena to help poorer classes in hard times for local economy, and thereby combat usury.
Today, the commitment to sustainable development is a priority on the global, political and economic agenda and is seen as a priority interest by governments, businesses and civil society as a whole. By signing the Principles for Responsible Banking, Banca MPS reaffirms its long-standing commitment to sustainability and, at the same time, responds to today’s needs of all its stakeholders.
