Principles & Policies
Principles for Responsible Banking
On September 22-23, 2019, during the annual United Nations General Assembly in New York, USA, 130 banks from 49 different countries co-signed the six Principles for Responsible Banking (PRB), as part of the United Nations Environment Program-Finance Initiative (UNEP-FI); while to date the number of banks that have co-signed the PRBs amounts to more than 180.
Corporate Governance Principles
The Fund’s long-term strategy is to divest its holdings in the banks. In order to be able to do so, the HFSF needs to be confident that the sustainability of the individual banks and the stability of the banking system more generally will not be adversely affected by its departure.
Stewardship Policy
Stewardship refers to engagement with stakeholders to promote strategic and corporate governance practices that are consistent with encouraging long-term value creation for shareholders.
Voting Policy
The HFSF seeks to establish a supportive and constructive relationship with the boards of the banks in which we invest, and in general will only intervene where the Fund believes that a bank’s actions or practices might put at risk its ability to achieve the conditions necessary for divestment.