A. M. The institution is now a member of the world’s largest global banking community focused on sustainable finance where best practices and tools are shared to strengthen economic and social development.
Banco CUSCATLAN’s adherence to the Principles for Responsible Banking (PRB) of the United Nations Environment Programme Finance Initiative (UNEP FI) responds to the financial institution’s genuine interest in integrating sustainability into the heart of its business and contributing to the transition towards more sustainable economies.
The signing of these principles establishes six fundamental commitments: Alignment of the strategy with the needs of society and sustainable development goals and the Paris Agreement; Impact and target setting where the increase of positive and reduction of negative ones is considered; fostering sustainable practices among its clients and promoting the development of economic activities that generate shared prosperity; consultation and collaboration with stakeholders to achieve society’s goals; strong governance and internal culture that promotes accountability; as well as transparency and accountability in contributing to society’s goals.
“We have always worked under the clear vision of creating value in a responsible way for our clients and our country. Signing the Principles of Responsible Banking renews this commitment that we live every day and opens the door to expand the positive impact on our communities and our business”, said José Eduardo Luna, CEO of Banco CUSCATLAN El Salvador.
Signatories of the principles play a key role in demonstrating how through their products, services, and banking relationships they can drive and accelerate the changes needed to continue building a positive future for both people and the planet.
Under the PRBPrinciples, signatory banks identify and measure the environmental and social impacts resulting from their business activities, set and implement targets where they have the most significant impact, and report publicly on their progress on a regular basis. Transparency is a central element of this process, as it enables stakeholders to assess the performance and consistency of banks’ actions with their commitments. The PRB principles provide a strategic framework for banks to systematically understand the risks and seize the opportunities arising from the transition to more sustainable economies.
