Finance
Finland (FFI) has committed to international principles on responsible
financial conduct. The commitments cover responsible banking, insuring and
investing.
These commitments are a part of international cooperation aimed at making responsibility an integral part of the financial sector. However, FFI’s support for these principles does not bind its member companies. FFI members each decide individually on their own commitments.
”These principles are well known internationally and send a good message about the values of the Finnish financial sector”, says Elina Kamppi, adviser at Finance Finland.
The insurance and investing commitments focus on environmental and social aspects as well as good administrative principles. The signatory investors and asset managers commit to e.g. increasing engagement on corporate governance and transparency. In addition, the Principles for Responsible Banking include concrete sustainability targets which the signatory banks will aim for.
FFI is among the forerunners of sustainable finance. The European Banking Federation has signed the Principles for Responsible Banking, but other FFI’s umbrella organisations have not officially signed the principles so far.
”In addition to the principles on responsibility, FFI has made four commitments to sustainable development, aimed at reducing the carbon footprint and making the society more resource-efficient”, Kamppi points out.
Principles for Responsible Banking (PRB)
Principles for Sustainable Insurance (PSI)
Principles for Responsible Investment (PRI)