Sustainable Banks Deliver Brighter Future

News provided by

Global Alliance for Banking on Values

Sep 21, 2010, 01:00 ET

NEW YORK, Sept. 21 /PRNewswire-USNewswire/ -- Sustainable banking network delivers on a three-year commitment to raise $250 million in new capital in less than a year, attracting almost $400 million. The Global Alliance for Banking on Values follows its success with an ambitious pledge to touch the lives of a billion people with sustainable banking by 2020.

Making its announcement at the Clinton Global Initiative in New York, a network of ten of the world's leading sustainable banks has signaled that sustainable banking can help meet the world's most profound social and environmental challenges. The Global Alliance for Banking on Values (GABV) made a commitment to raise $250 in new capital over three years from its members at the 2009 Clinton Global Initiative annual meeting. Seven of the network's ten members raised almost $400 million within a year; money which will support the expansion of over $3 billion in new lending. The banks use finance to serve unserved people, their communities and projects that benefit the environment.

The GABV is now pledging to touch the lives of a billion people with sustainable banking by 2020. It expects the growth to come from expanding the network's membership significantly, supporting banks looking to adopt genuinely values-driven models, and the creation of new sustainable banks.

Speaking at the Clinton Global Initiative Sir Fazle Hasan Abed, co-founder of the GABV and founder and Chairperson of BRAC says; "This is a major new pledge that could transform lives on a truly global scale, and make a substantial difference in our efforts to combat climate change."

"We believe sustainable banking – which focuses on people and the environment as well as profit – should reach one billion people by 2020 when a number of key international targets converge," said Peter Blom, Chair and co-founder of the GABV, and CEO of Triodos Bank, a European sustainable bank. "We need to raise more financial capital and train and equip the next generation of sustainable bankers so we have the human capital to use it to its full potential. This commitment is an important milestone. We believe values-led banking can and should make a positive difference to the lives of one billion people within ten years."

The GABV, which uses finance to deliver sustainable development for unserved people, communities and the environment, represents seven million customers in 20 countries, with a combined balance sheet of over $14 billion. It was launched in March 2009. Its members are conspicuous in the banking industry for using their profits to deliver financial, community and environmental benefits.

Interviews can also be arranged with representatives from the following members of the GABV:

Alternative Bank ABS, Switzerland, www.abs.ch
Banca Popolare Etica, Italy, www.bancaetica.com
BRAC Bank and BRAC Microfinance Programme, Bangladesh, www.brac.net and www.bracbank.com
GLS Bank, Germany, www.gls.de
Merkur Bank, Denmark, www.merkurbank.dk
Mibanco, Banco de la Microempresa, Peru, www.mibanco.com.pe
New Resource Bank, United States, www.newresourcebank.com
Triodos Bank, The Netherlands, www.triodos.com
XacBank, Mongolia, www.xacbank.com

To qualify for membership, each institution has to meet three criteria:

They are independent and licensed banks with a focus on retail customers;
with a minimum balance sheet of $50 million
and, most significantly, they should be committed to responsible financing and the triple bottom line of people, planet and profit.

About the Clinton Global Initiative (CGI)

Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world's most pressing challenges. Since 2005, CGI Annual Meetings have brought together more than 125 current and former heads of state, 15 Nobel Peace Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. The CGI community also includes CGI University (CGI U), a forum to engage college students in global citizenship, MyCommitment.org, an online portal where anybody can make a Commitment to Action, and CGI Lead, which engages a select group of young leaders from business, government, and civil society. For more information, visit www.clintonglobalinitiative.org.

SOURCE Global Alliance for Banking on Values