Corporate

Grupo Cooperativo Cajamar endorses the Principles for Responsible Banking

20 de Febrero, 2019

Luis Rodríguez, chairman of Banco de Crédito Social Cooperativo-Grupo Cajamar, said today that the United Nation Environment Programme’s Principles for Responsible Banking are in line with the business model and ethical management system of the Grupo Cooperativo Cajamar. “In the cooperative banking business, we help to promote and encourage the growth of sustainable companies. Our endorsement of this initiative will undoubtedly help raise awareness in society, and ensure our banking activities are based on sound ethical principles and responsibility”.

This statement coincides with the announcement released today in various countries on the success of this United Nations initiative, which was launched last November. To date, 37 banking institutions and 8 organisations and stakeholder groups linked to the sector have endorsed it. Grupo Cooperativo Cajamar approved the endorsement of the Principles for Responsible Banking in December and is now affiliated to the initiative and will submit comments and observations during the public consultation process, which will continue to admit new participants.

The chairman of BCC-Grupo Cajamar reiterated that the Principles for Responsible Banking are in line with the business model and ethical management system of the Grupo Cooperativo Cajamar, reflecting its commitment to society and its responsibility as a financial institution to help meet the challenges of sustainable development. Luis Rodriguez stated that “Grupo Cooperativo Cajamar is uniquely committed to society, and its activities go beyond mere financing, being linked to sustainable development and progress and centred on achieving a fairer, more equal society. We do not see banking as an end in itself, but rather a tool at the service of society”.

The Principles of Responsible Banking, developed by the United Nations Environment Programme's Finance Initiative (UNEP FI) were presented in Paris on 26 November last year. A public consultation process has been underway since then, and it is expected that other banks and financial institutions, similarly aware of the importance of sustainable development, the Sustainable Development Goals and the Paris Accord, will add their voices. This process will culminate in September 2019 with the signing of a definitive proposal at the United Nations’ headquarters in New York.