OTP banka signs the UN Principles for Responsible Banking

OTP banka has become an official signatory of the UN Principles for Responsible Banking – a single framework for a sustainable banking industry developed by the United Nations Environment Programme Finance Initiative (UNEP FI) alongside banks worldwide.  

The Principles are the leading framework for ensuring that banks’ strategies and practices align with the vision that society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks who have signed the Principles commit to be ambitious in their sustainability strategies, working to mainstream and embed sustainability into the heart of their business, while allowing them to remain at the cutting-edge of sustainable finance. 

Under the Principles, signatory banks identify and measure the environmental and social impact resulting from their business activities, set and implement targets where they have the most significant impact, and regularly report publicly on their progress.  The Principles provide a framework for banks to systematically understand the risks and seize the opportunities arising from the transition to more sustainable economies.

By becoming a signatory of the Principles, OTP banka takes on a leadership role, demonstrating how banking products, services and relationships can support and accelerate the changes necessary to achieve shared prosperity for both current and future generations, building thereby a positive future for both people and planet. With the signature, OTP banka joins the world’s largest global banking community of more than 345 banks worldwide that is focused on sustainable finance, sharing best practices, and working together on practical guidance and pioneering tools that benefit the entire industry.

By signing the Principles for Responsible Banking, OTP banka Slovenia has committed itself to complying with six core principles designed to give the sustainable finance industry a goal, a vision and ambition to sustainable finance. These principles include aligning business strategies with sustainability goals, setting targets to improve environmental and social impact, engaging responsibly with customers and stakeholders, and ensuring transparency and accountability in business operations.

“Signing the UN Principles for Responsible Banking shows that we are on the right track, as we are implementing sound and effective measures tailored to the challenges of the banking industry. Becoming a UNEP FI member confirms our strategic guidelines and goals and gives us the direction on which we will focus in the future. At the same time, we are motivated and committed to strengthen our ESG activities in the future and set for ourselves even more ambitious goals”, says Dóra Barbara Balog, Director of the ESG Sector.