Arlington, VA (November 08, 2023) — National Cooperative Bank (NCB), a leading financial institution dedicated to providing banking solutions to cooperatives and socially responsible organizations nationwide, is proud to celebrate Banking on Values Day as a member of the Global Alliance for Banking on Values (GABV).
With a member base of 70+ pioneering banks, credit unions, and microfinance institutions from across the world, the GABV advocates for banks to take a pivotal role in shaping the economy, society, and the environment. Led by the GABV, Banking on Values Day is an annual event that seeks to reaffirm the crucial role that banks can play as a force for good.
For Banking on Values Day 2023, the theme is to ‘Think Bolder’ as the GABV urges collaborative action and bigger, bolder thinking to find innovative new approaches that can help drive a transition to a low carbon, inclusive economy.
Best practices for sustainable market transformation:
To support its ‘Think Bolder’ campaign, the GABV published a new report, Think Bolder: Best Practices for Sustainable Market Transformation in the Financial Sector, together with the Nyenrode Business University in The Netherlands. The report shares learnings from leading values-based banks that adopt effective strategies that go beyond ESG and outlines nine common characteristics of conventional banks versus values-based banks.
Martin Rohner, Executive Director, GABV said: “Banking can be an incredibly powerful force for good. From social inequality to the climate emergency, the sector has a choice; to ignore and exacerbate these issues, or to work together to overcome them. Banking on Values Day 2023 celebrates a bolder, better way to bank and calls on the financial sector, including values-based banks, to transition to a greener and fairer future.”
Bold decisions and actions:
Values-based banks have the ambition to put people and the planet at the center of decision-making. With strong diversity in terms of size, business model, cultural contexts, or markets they operate in, they have a goal in common; to use finance to meet their communities’ needs and create positive impact.
For over 45 years, National Cooperative Bank has been committed to the cooperative sector and working with socially responsible organizations nationwide. NCB has a strong focus on serving low- and moderate-income communities nationwide and providing capital for co-op and community development initiatives. In 2022, NCB made loans and investments of $475 million to benefit low-and moderate-income communities and families.
NCB is also committed to the advancement of renewable energy and has focused on financing projects with creditworthy off-takers, such as utilities, municipalities, and established commercial businesses. Having financed approximately 132 MW of power for solar projects in 2022, NCB is dedicated to funding innovative programs dedicated to solar energy installation nationwide.
For more information, please visit: www.bankingonvaluesday.com