Pictet commits to the Principles for Responsible Banking
The Pictet group commits to the UN Principles for Responsible Banking, launched in September 2019 during the annual United Nations General Assembly.
In 2007 Pictet committed to the UN Principles for Responsible Investing, which articulate the role of asset managers as stewards and provide a solid foundation for integrating ESG considerations throughout the investment process. The Principles for Responsible Banking are a framework that serves as an important and complementary next step. This framework focuses on the types of products and solutions provided to clients and how they ultimately create value for them as well as for all other stakeholders. This is an essential step in the journey towards a more sustainable financial system.
Launched in September 2019 during the annual United Nations General Assembly, the Principles provide the framework for a sustainable banking system.
The Principles for Responsible Banking
- Alignment: We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks.
- Impact & target setting: We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities, products and services. To this end, we will set and publish targets where we can have the most significant impact.
- Clients & customers: We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
- Stakeholders: We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals.
- Governance & culture: We will implement our commitment to these Principles through effective governance and a culture of responsible banking.
- Transparency & Accountability: We will periodically review our individual and collective implementation of these Principles and be transparent about and accountable for our positive and negative impacts and our contribution to society’s goals.