Prepayment and Principles for Responsible Banking: Difference between pages

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1. ''Banking''.
''Environmental social and governance (ESG) - banking.''


The non-contractual early repayment by bank customers of, for example, fixed rate mortgages.
(PRB).


The Principles for Responsible Banking are a framework for ensuring that signatory banks’ strategy and practice align with the UN's Sustainable Development Goals (SDGs) and the Paris Climate Agreement.


2. ''Accounting''.


An amount paid in advance for a financial benefit, represented by an asset in the organisation's balance sheet.
:Signatories commit themselves to:


It is a prepaid expense.
#'''Align''' their business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks.
#Continuously increase their positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from their activities, products and services. To this end, to set and publish '''targets''' where they can have the most significant '''impacts'''.
#Work responsibly with '''clients and customers''' to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
#Proactively and responsibly consult, engage and partner with relevant '''stakeholders''' to achieve the SDGs and the goals in the Paris Agreement.
#Implement their commitment to these Principles through effective '''governance''' and a '''culture''' of responsible banking.
#Periodically review their individual and collective implementation of these Principles and be '''transparent''' about and '''accountable''' for their positive and negative impacts and their contribution to the goals.


::''Source - United Nations Environment Programme Finance Initiative''


:<span style="color:#4B0082">'''''Example: Venue hire'''''</span>


:We book a venue for a function.
==See also==
*[[Environmental concerns]]
*[[Equator Principles]]
*[[European Bank for Reconstruction and Development]]
*[[ESG investment]]
*[[Net-Zero Banking Alliance]]
* [[Organisation for Economic Co-operation and Development]]  (OECD)
*[[Paris Agreement]]
*[[Principles for Responsible Investment]] (PRI)
*[[Principles for Sustainable Insurance]] (PSI)
*[[Project finance]]
*[[Risk management]]
*[[Social concerns]]
*[[Sustainable Development Goals]]
*[[United Nations Environment Programme]]
*[[United Nations Environment Programme Finance Initiative]]


:And pay 50% of the hire fee in advance.


 
==External link==
 
[https://www.unepfi.org/banking/bankingprinciples/ Principles for Responsible Banking - UN Environment Programme]
:The 50% paid in advance is an ASSET for us.
 
:We are going to enjoy the use of the venue in future, but it has already been paid for.
 
:So the 50% already paid represents a future economic benefit.
 
 
 
== See also ==
* [[Accrual]]
* [[Average effective maturity]]
* [[Bookkeeping]]
* [[Early Repayment Charge]]
* [[Extension risk]]
* [[Prepaid expense]]
* [[Prepayment risk]]
* [[Prepayments]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Identify_and_assess_risks]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]

Latest revision as of 12:58, 25 June 2022

Environmental social and governance (ESG) - banking.

(PRB).

The Principles for Responsible Banking are a framework for ensuring that signatory banks’ strategy and practice align with the UN's Sustainable Development Goals (SDGs) and the Paris Climate Agreement.


Signatories commit themselves to:
  1. Align their business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks.
  2. Continuously increase their positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from their activities, products and services. To this end, to set and publish targets where they can have the most significant impacts.
  3. Work responsibly with clients and customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
  4. Proactively and responsibly consult, engage and partner with relevant stakeholders to achieve the SDGs and the goals in the Paris Agreement.
  5. Implement their commitment to these Principles through effective governance and a culture of responsible banking.
  6. Periodically review their individual and collective implementation of these Principles and be transparent about and accountable for their positive and negative impacts and their contribution to the goals.
Source - United Nations Environment Programme Finance Initiative


See also


External link

Principles for Responsible Banking - UN Environment Programme

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