• The UNEP FI six Principles for Responsible Banking provide the framework for a
sustainable banking system and help the industry demonstrate its positive
contribution to society. They were launched by 130 banks from 49 countries in
September 2019 (See Fact Sheet).
• The HFSF supports the PRB and will work hand in hand with the Greek systemic
banks to increase lending that supports socially and environmentally sustainable
Athens, June 29th, 2020 –The Hellenic Financial Stability Fund (HFSF), a strategic
shareholder of the four systemic banks in Greece, has endorsed the Principles for Responsible Banking of the UN Environment Program Finance Initiative (UNEP-FI), thus becoming one of the 170+ Signatories so far. With this endorsement, the Fund pledges its active support to the implementation of the UNEP FI Principles for Responsible Banking by the Greek systemic banks.
The UN Principles for Responsible Banking help banks align their business strategy with
society’s goals. The six Principles provide the framework for a sustainable banking system
and help the industry demonstrate its positive contribution to society. Key among the
principles, banks need to be transparent and clear about how their products and services
create value for their customers, clients, investors, as well as society at large, aiming at
producing a positive impact in an environmentally sustainable way.
The improvement of the corporate governance framework and board performance of the
Greek systemic banks has been a strategic objective of the Hellenic Financial Stability Fund
since its early days. This has been achieved by promoting awareness of systemic issues,
driving the establishment of an appropriate “Governance Culture” including by providing
transparency on HFSF activities, and formally assessing the quality of Corporate Governance
in Greek banks.
The HFSF will continue to work closely with the banks in promoting the industry’s contribution
to society based, among others, on the PRB. In this respect, the banks need to emphasize
effective governance practices and culture in order to ensure consistently robust, and value
adding decision making, creating long term value for the economy at large, for their clients,
their employees and their shareholders.
The HFSF is convinced that implementing the UNEP FI Principles for Responsible Banking will
strengthen the sustainability of the Greek banking system thus delivering on the premise that
“The future of banking lies in financing the future”.