Ecology joins Collective Commitment to Climate Action24 September 2019
Ecology recently became a founding signatory to the UN Principles for Responsible Banking. Following the launch of the Principles, 31 of the founding signatories, including Ecology, have announced a Collective Commitment to Climate Action at the UN Secretary-General’s Climate Action Summit.
The Collective Commitment to Climate Action sets out a series of actions for the banking sector to take to scale up their contribution to and align their lending with the objectives of the Paris Agreement on Climate.
All of Ecology’s lending is already focused on supporting the low-carbon, climate-resilient economy, which will be required to limit global warming to well-below 2 degrees and striving for 1.5 degrees. Our range of sustainable lending is facilitating the transition to achieve net-zero.
By joining the Collective Commitment, we will be publicly accountable for our climate impact and progress on these commitments. This complements Ecology’s work with the Global Alliance for Banking on Values’ ‘3Cs’ initiative where, earlier this year, Ecology committed to assessing and disclosing the climate impact of our lending.
Paul Ellis, Chief Executive of Ecology Building Society said,
“If we are to meet our Paris climate targets, banking providers need to support the transition to a low-carbon economy.
“The Collective Commitment on Climate Action builds on our existing work to measure the positive impact of our mortgage lending on climate change and the carbon footprint of our operations. Ecology Building Society has been pioneering green finance for nearly 40 years and this Commitment will demonstrate how our sustainable lending is aligned to climate goals. We look forward to working with other banks participating in this initiative to ensure the sector is meeting the challenge of the climate and ecological crisis.”
Please see the full text of the Collective Commitment to Climate Action and all participating banks here.