As the world struggles with environmental degradation and climate change, the Global Alliance for Banking on Values (GABV), a network of 70 independent banks, credit unions and microfinance institutions from 43 countries, is all set to hold a three-day conference to share ideas and find solutions as to how the financial industry can drive sustainability.
The directors of the world's leading sustainable banks will reiterate their strong commitment to values-based banking and stress the need to spread the message across communities and countries for a sustainable and secure future as they meet in Dhaka, reads a press release.
More than 50 delegates, particularly CEOs and MDs of member-banks, will participate in the conference with the theme "From Perspectives to Action: Transformational Practice in Action". This is the second time the GABV is holding the annual summit in Bangladesh.
Bangladesh Parliament Speaker Dr Shirin Sharmin Chaudhury, MP, will grace the inaugural ceremony on 8 November.
The delegates will participate in several discussion sessions that will touch upon important transformation issues in the banking industry, the significance of values-based banking, decarbonisation, financial inclusion, microfinance, sustainability integration, human capital and organisational transformation. They will observe Banking on Values Day on 10 November in a public event where all members will join in person and virtually.
As part of the conference, the delegates will also visit Brac Bank customers who have set the exemplary benchmark in a sustainable way of doing business.
Managing Director and CEO Selim RF Hussain said: "Brac Bank takes great pride in being associated with the values-based banking movement. We believe through this annual meeting, we would be able to disseminate the message to a larger audience and sow the seed of sustainable banking movement in Bangladesh and beyond."
"Brac Bank passionately works to make the environment cleaner and the Earth greener through responsible financing. We strive to contribute to reducing the carbon footprint of Bangladesh through green financing. We believe prosperity and the planet should march hand-in-hand as we continue our development journey. We will continue to work with the GABV to adopt best practices and pursue values-based banking for a sustainable future," he added.
David Reiling, CEO of Sunrise Banks (USA) and Chair of the GABV said: "This is the first global in-person meeting since the outbreak of the Corona pandemic. We are coming together to discuss how to respond as a movement in the face of the multiple crises shaking the world. I am grateful for the leadership of our host, Brac Bank, which has been a great inspiration for all GABV members."
"In a rapidly changing world, values-based banks have been able to adapt while staying focused on their mission and purpose. We differ from conventional banks, not in how we respond to external challenges but in our starting point, which dictates everything we do. Responding effectively to rapid and continuous change requires holistic approaches that consider the well-being of people and the planet. This is how the members of the Global Alliance for Banking on Values understand banking as a force for good," he continued.
The GABV was founded in 2009 by 10 pioneer banks that believed in the need for a fairer, greener and more inclusive financial system. Brac Bank is the founding member and the only bank representing Bangladesh in the global forum.
The GABV, presently made up of 70 pioneering banks, credit unions and microfinance institutions from across the world, advocates for banks to take a pivotal role in shaping the economy, society and the environment. Members of the GABV have pioneered and helped expand initiatives like the Partnership for Carbon Accounting Financials (PCAF), a harmonised, open-source tool to measure and disclose the greenhouse gas emissions (GHG) of financial institutions' loans and investments. The GABV was recognised recently as a Climate Leader by the Finance for the Future Awards and will participate in COP27 as an Observer NGO.
Values-based banks have the ambition to put people and the planet at the centre of decision-making. With strong diversity in terms of size, business model, cultural contexts or markets they operate in, they share a common goal; to use finance to meet their communities' needs and create a positive impact.