The Global Alliance for Banking on Values (GABV) is an independent association of 'values-based banks' with a shared mission to use finance to deliver environmental, social, and corporate governance (ESG) positive outcomes.[1][2] The GABV consists of over 60 member banks, credit unions and microfinance institutions,[3] from a total of 44 countries. The group has 16 supporting partners.[4] Its headquarters are in Amsterdam, Netherlands.

Marcos Eguiguren from GABV said that values-based banking means putting "People before Profit"[5] These are banks that use money to deliver economic, social and environmental development. They set themselves apart from traditional banks based on where they put their customers' money, how they manage lending, such as by providing loans and services to sustainable projects, individuals, and entrepreneurs, and avoiding investing money in the pure financial and speculative economy, by support their local communities and the environment, and by how they treat their staff and customers.

History

The GABV was founded in 2009.[6] Its founding members were Triodos Bank,[7] ShoreBank, BRAC Bank, Mibanco Peru, Alternative Bank Switzerland,[8] Merkur Bank,[9] GLS Bank,[10] Banca Etica Adriatica,[11] New Resource Bank[12] and XacBank.[13] In 2010, the company had its first annual meeting in Bangladesh.

The 2011 Lima Declaration demanded that value-based banks be recognized through appropriate regulation and not be adversely impacted by regulations intended to address issues related to mainstream banks.[14]

2013 resulted in the first International Banking on Values Day, the creation of the Europe and North America regional chapters, as well as the Berlin Declaration.[15]

In 2014, the GABV's scorecard, a set of common impact metrics, which allows banks to report their social impact of a bank through a harmonised method, was launched.

The ninth summit was held in Kathmandu, Nepal in 2017.[16] This meeting concluded with the Kathmandu Declaration, a commitment to a long-term positive social impact towards renewing the whole banking system.[17]

In November 2022, BRAC Bank hosted the group's 13th in-person summit, in Dhaka, Bangladesh.[18][19][20]

Notable members

See also

References

  1. ↑ Weber, Olaf (2018). "Financial Sector Sustainability Regulations and Voluntary Codes of Conduct: Do They Help to Create a More Sustainable Financial System". In Crichton, Rohan; Kibsey, Stéfanie D.; Walker, Thomas (eds.). Designing a Sustainable Financial System: Development Goals and Socio-Ecological Responsibility. Springer International Publishing. p. 390. ISBN 9783319663876.
  2. ↑ Hampden-Turner, Charles; Trompenaars, Fons; Cummings, Tom (2015). "The Global Alliance for Banking on Values (GABV)". Nine Visions of Capitalism: Unlocking the Meanings of Wealth Creation. Infinite Ideas. pp. 209–238. ISBN 9781909652842.
  3. ↑ "'Values-based banks put people and the planet at the center of decision-making'". Dhaka Tribune. November 9, 2022.
  4. ↑ "GABV ANNUAL REPORT 2021" (PDF). GABV.
  5. ↑ "What is Values-based Banking?". Shareable. April 4, 2017.
  6. ↑ "Global Alliance for banking on values (GABV)". www.socioeco.org.
  7. ↑ Blom, Peter. "The Global Alliance for Banking on Values". Triodos Bank.
  8. ↑ "Alternative Bank Switzerland en Triodos Bank gaan samen duurzame ondernemingen financieren". Duurzaam Financieel (in Dutch). October 25, 2022.
  9. ↑ "Ny direktør i Merkur: Børnene har åbnet mine øjne for bæredygtighed | Merkur Andelskasse". Ritzau (in Danish).
  10. ↑ "GLS Bochum - Die weltweit erste Umweltbank". Deutschlandfunk.
  11. ↑ "La GABV all'Europa: «Niente scherzi sulla tassonomia sociale, sia ambiziosa»". Valori (in Italian). February 24, 2022.
  12. ↑ "Is Your Bank Funding Big Oil? Here's How to Find One That Isn't". Yes! magazine).
  13. ↑ "The Global Alliance for Banking on Values (GABV)". XacBank.
  14. ↑ "2011: Lima Declaration". GABV - Global Alliance for Banking on Values. 2022-01-05. Retrieved 2022-03-17.
  15. ↑ "2013: Berlin Declaration". GABV - Global Alliance for Banking on Values. 2022-01-05. Retrieved 2022-03-17.
  16. ↑ "NMB Bank's GABV meet from today". Kathmandu Post.
  17. ↑ "2017: Kathmandu Pledge". GABV - Global Alliance for Banking on Values. 2022-01-05. Retrieved 2022-03-17.
  18. ↑ "Global banking alliance summit begins in Dhaka Tuesday". The Business Standard. November 7, 2022.
  19. ↑ Report, Star Business (November 9, 2022). "Uphold values in banking". The Daily Star. {{cite web}}: |first= has generic name (help)
  20. ↑ "Top global bankers mass GABV summit today". The Financial Express.
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