During 2019 we engaged a range of stakeholders to help align our Purpose and focus area commitments on Enterprise, Learning and Climate with the UN Sustainable Development Goals.
United Nations Sustainable Development Goals
RBS became one of the Founding Signatories of the UN Principles for Responsible Banking in 2019, committing to aligning our strategy to the 2015 Paris Agreement and the UN Sustainable Development Goals (SDGs)
Eligibility portfolio of Social Bond includes SDGs
In November 2019, we issued our inaugural Social Bond, the first of its kind by a UK financial institution and the first exclusively social bond issued under ICMA's Social Bond Principles in the UK by any financial institution. The Social Bond reaffirms the Bank’s commitment to addressing regional inequality by supporting SMEs to create and retain jobs in some of the most deprived areas in the UK.
The issuance is under our Green, Social and Sustainable Bond Framework which paves the way for future issuance in support of our sustainability ambitions, while enabling our customers to make a positive impact on society or the environment. The issuance follows the commitment made by Chief Executive Alison Rose to build a more sustainable, purpose led bank that champions the communities we serve and helps them to thrive.
Eligibility criteria of Climate and Sustainable Finance target supports SDGs
We are championing climate solution with an additional £20bn funding and financing for Climate and Sustainable Finance (2020-2022). We have published the Climate and Sustainable Finance Inclusion Criteria which outlines the eligibility criteria for the commitment. This also aligns and supports a number of Sustainable Development Goals.
We’re very conscious of our obligations under the UN Sustainable Development Goals. We recognise the importance of understanding the implications of climate change, and what that will do to our business and to the business of our customers. We have a strong track record in alternative energy projects. And overall we are working to build a more sustainable bank in a very broad societal, economic and environmental context.
Sir Howard Davies, Chairman
We recognise that we will need to think differently to rise to the challenge of the Global Goals. We are committed to working collaboratively and exploring options with our partners, stakeholders and peers to achieve a better future for everyone.
Kirsty Britz, Director of Sustainable Banking