Italian bank illimity has signed up to the UN Principles for Responsible Banking (PRB), aligning its operations with the Sustainable Development Goals and the Paris Climate agreement. The PRB has 338 signatories worldwide, representing around 54% of worldwide banking assets worth a total of $98.7tn.
- Illimity’s adherence to the PRB is part of its ongoing effort towards environmental, social, and governance (ESG) issues and sustainability.
- The bank’s long-term commitment to the PRB and its guiding principles is in line with its recent Sustainability Plan 2023-2025.
- As part of the plan, illimity has set itself certain qualitative and quantitative targets to continuously grow its ESG commitment and improve its processes to create value for stakeholders.
The PRB was developed by the United Nations Environment Programme Finance Initiative (UNEP FI), an organisation established in 1992. Its core objective is to address sustainability issues within the financial sector. Through creating common guidelines and best practices, the PRB inspires, informs, and enables the banking sector to take stronger action on sustainable finance.
Fabio Pelati, Head of Investor Relations & Sustainability at illimity, states that the bank has always led the way in ESG issues. He further adds, “the commitment to the Principles for Responsible Banking represents for us the natural evolution of a path that has long been underway and it is a further incentive to carry out the objectives we have set ourselves with the recent Sustainability Plan 2023-2025”.
This development is a testament to illimity’s continuous effort to integrate sustainability at every level within its operations and strategies, aiming to create long-term value for all its stakeholders while contributing to a more sustainable global economy.
