This makes Globalance Bank one of the few Swiss banks to sign these new UN principles. This underlines our commitment to the paradigm shift in the financial market. As one of the few start-ups in the Swiss Financial Centre, and with a focus on innovation and transparency, we show how responsible, future-oriented investment can be turned into an attractive offer for the new generation of emancipated customers.
Reto Ringger, founder and CEO of Globalance Bank:
"The financial industry is on the verge of a paradigm change. While other business sectors – the coal industry, the music industry and media world, to name just a few – have undergone dramatic change and developed further, the banking industry in many places is still operating the same way it did twenty years ago. The Principles for Responsible Banking engage our industry to drive change.”
The redirection of capital towards positive effects for the economy, society and the environment requires consistency for all investments in all asset classes. This goes much further than having a few so-called "sustainable" funds on offer. Transparency and proof of effect for each individual financial investment overtax most banks today. This is why they are challenged by tech companies outside the industry.
By signing the Principles for Responsible Banking, Globalance Bank joins a coalition of 130 banks worldwide representing over US$47 trillion in assets and committed to playing a critical role in building a sustainable future.
UN Secretary-General Antonio Guterres said at the launch event:
"The UN Principles for Responsible Banking are a guide for the global banking sector to respond to, promote and benefit from a sustainable development economy. The principles create the accountability that can assume responsibility and the ambition that can power trade.
Already 25 years ago we broke new ground
The signing of these principles are not a revolution for Globalance Bank. When sustainability was still an alien concept we founded SAM. Sustainable Asset Management was the first asset manager for sustainable investments worldwide.
In collaboration with Dow Jones, we then set a milestone by developing the Dow Jones Sustainability Index.
With the ground-breaking Globalance Footprint - a type of Google Earth for investments – we showed for the first time what the economic, social and environmental impacts of any portfolio were.
More information on the UN Principles of Responsible Banking can be found here: https://www.unepfi.org/banking/bankingprinciples/