Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Following the materiality analysis conducted in 2017 on its sustainable development priorities, Desjardins polled its members in 2024, with the majority (73%) indicating that sustainable development is important to them. Over recent years, Desjardins has carried out additional surveys of its personal and business members and clients to better understand their priorities and concerns related to sustainability and responsible finance. These surveys have provided further insights into how well Canadians comprehend sustainable development and responsible financial practices.

Surveying stakeholders has helped Desjardins identify what matters most to its members and clients. These priorities are addressed in the “Listening to Our Stakeholders” section of Desjardins’ Social and Cooperative Responsibility Report. Desjardins collaborates with all levels of government, regulators, and other standard-setting organizations on various issues, which are also detailed in the same section of its Social and Cooperative Responsibility Report.

Through numerous partnerships, Desjardins remains committed to supporting communities in the energy transition and taking action against climate change and biodiversity loss. These partnerships foster university research and training, promote the development of practical solutions for economic stakeholders, and enhance climate education and engagement. For more information, please refer to the diagram of Desjardins’ environmental and climate action partners.

Additionally, Desjardins has participated in several working groups organized by UNEP FI to support the implementation of the Principles for Responsible Banking (PRB), the Principles for Sustainable Insurance (PSI), and the Commitment to Financial Health and Inclusion. These groups facilitate discussions and collaborative efforts on ESG issues with financial institutions worldwide.

Desjardins is also a member of the Climate Montreal Partnership (in French only), a coalition of nearly 100 Montreal-based economic, philanthropic, institutional, and environmental stakeholders working together to accelerate Montreal’s decarbonization and build climate resilience within the timelines outlined by climate science. Furthermore, Desjardins participates in the Quebec Climate Partnership’s engagement committee (in French only), which aims to mobilize Quebec City’s economic forces. As an ambassador advocating for enhanced climate action in Quebec City, Desjardins contributes to setting priorities and will participate in upcoming climate action summits in the province’s capital.

How does Desjardins promote a culture of responsible banking among its employees?

In its 2024 PRB Reporting and Self-Assessment Template Desjardins reports that it took the following actions to promote a culture of responsible banking among its employees:

At Desjardins, responsible finance is a core part of its identity as a cooperative. An entire section dedicated to responsible finance is included in Desjardins’ Social and Cooperative Responsibility Report. Desjardins communicates its commitment to responsible finance to all employees through the Desjardins Fundamentals learning pathway, which consists of individual and group activities designed to foster a shared understanding of what it means to operate as a cooperative. In 2022, Desjardins implemented mandatory training on sustainability and responsible finance, complemented by additional modules on climate change and specialized topics such as responsible investment and sustainable insurance. These modules are integrated into training plans tailored for various key roles within the organization. For instance, training on ESG integration was launched in 2023 to educate and raise awareness among all business advisors. In 2024, over 2,028 employees across different departments participated in Climate Fresk workshops to grasp the fundamentals of climate change.

Desjardins’ commitment is also embedded in its processes. For example, there is a procedure for assessing ESG factors in large business financing, which helps identify and manage environmental and social risks within the loan portfolio. For more information on Desjardins’ approach to responsible finance, please refer to section 2.4, Responsible Products and Services, of its Social and Cooperative Responsibility Report.

Furthermore, the organization’s president and CEO, Guy Cormier, champions responsible finance. Desjardins was a partner of the 2023 Sustainable Finance Summit in Montreal, where Guy Cormier participated in a discussion alongside Mark Carney, former Governor of the Bank of Canada and the Bank of England, and UN Special Envoy on Climate Action and Finance. During this discussion, they explored the vital role of financial institutions in promoting sustainable finance and transitioning to a sustainable economy. They also addressed the challenges and opportunities related to sustainable finance, financial innovation and mobilization, as well as the importance of transparency and reporting.

Desjardins has also incorporated an ESG component into its employee and manager incentive structure (bonus plan). This component is based on an indicator that compares Desjardins’ ESG performance to that of its peers in North America, as evaluated by four ESG rating agencies.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Desjardins, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.desjardins.com/content/dam/pdf/en/about-us/community/sustainable-development/reports/2024-principles-responsible-banking.pdf

Note to Desjardins: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Zenus Bank proactively consults, engages, and collaborates with key stakeholders to support broader societal objectives. These stakeholders include regulators, investors, clients, strategic partners such as Visa and J.P. Morgan, and the bank’s executive team—all of whom play vital roles in shaping strategy, maintaining compliance, and aligning efforts with long-term sustainability goals.

As the bank expands its services through B2B and B2B2C models, Zenus actively partners with organizations committed to the United Nations Sustainable Development Goals (SDGs). Collaborations with industry leaders like Visa and J.P. Morgan enhance the bank’s ability to deliver secure, globally compliant, and inclusive financial infrastructure, helping partners reach underserved populations worldwide.

Through ongoing dialogue—such as regulatory consultations, investor briefings, client feedback, and industry engagement—Zenus incorporates diverse perspectives that bolster decision-making. This collaborative approach allows the bank to refine its strategies, adapt to emerging challenges, and maximize its positive impact in key areas like financial inclusion, gender equality, and financial health.

By cultivating strong relationships and partnerships, Zenus Bank ensures its growth remains responsible, sustainable, and aligned with society’s evolving needs.

How does Zenus Bank promote a culture of responsible banking among its employees?

In its 2025 PRB Impact Report Zenus Bank reports that it took the following actions to promote a culture of responsible banking among its employees:

Zenus Bank understands that responsible banking starts with people. A culture rooted in integrity, accountability, and sustainability is cultivated at all levels of the organization through clear policies, ongoing training, and transparent communication.

• Values and Conduct: The Zenus Code of Ethics and responsible business policies guide employees in maintaining the highest standards of environmental and social responsibility.
• Capacity Building: Employees in client-facing roles regularly receive training on compliance, ethics, and sustainable finance principles, empowering them to incorporate responsible practices into daily operations.
• Governance and Leadership: The bank’s leadership sets the tone by integrating sustainability into strategic decisions and communicating commitments organization-wide.
• Transparency and Engagement: Zenus Bank openly shares its sustainability commitments via its website and social channels, ensuring employees, clients, and stakeholders understand its priorities. In 2025, the focus areas included gender equality, financial health, and financial inclusion.
• Accountability: Performance frameworks and risk policies support responsible decision-making, ensuring every employee contributes to Zenus Bank’s long-term vision of inclusive and sustainable growth.

Through these initiatives, Zenus Bank fosters a workplace culture where responsibility and sustainability are not isolated efforts but core elements of how the bank operates and serves its clients.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Zenus Bank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://zenus.com/media/p31djt54/zenus-unep-fi-2025-report_compressed.pdf

Note to Zenus Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

As a member-owned co-operative, Innovation FCU prioritizes engaging and collaborating with stakeholders to shape its future and the work carried out within the community. The next step for Innovation FCU is to incorporate the principles of responsible banking into these consultations and establish a formal process for engaging stakeholders in discussions and action plans related to sustainability, as outlined by the PRB. Stakeholder groups currently engaged and consulted by Innovation FCU include:

Members: Innovation FCU conducts ongoing member research and feedback surveys throughout the year. The organization’s strong community engagement, charitable giving, and opportunity creation have contributed positively to social equity in sustainability.

First Nations Leaders: Innovation FCU’s executive team and board members have been building relationships with First Nations Leaders and communities to better understand their unique challenges, including those related to remote and northern locations, community needs, perceptions of money, financial education, environmental and cultural preservation, economic development, and specific claims. These efforts aim to foster partnerships that honour the interests of ‘the next seven generations.’

Third Parties: Innovation FCU collaborates with various groups to enhance its impact, including the Gabriel Dumont Institute, Saskatchewan Indigenous Economic Development Network, Indigenous Wealth Financial, First Nations Carbon Summit, AFOA Canada, Saskatchewan Solar Co-Op, and many others.

CCUA: The Canadian Credit Union Association serves as a valuable partner and stakeholder, with multiple working groups dedicated to sustainability. Through these collaborations, Innovation FCU shares insights and learns from other Canadian credit unions about approaches to sustainability and evolving regulatory requirements.

Innovation FCU’s next step is to intentionally integrate discussions around its areas of impact and strategic targets with these groups.

How did Innovation FCU identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2023-2024 PRB Self-Assessment Report Innovation FCU reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Innovation FCU’s Indigenous Connector Group employs various strategies to engage Indigenous peoples and communities. One such approach is Banking Days, during which the Innovation FCU team travels to remote communities and reservations to collaborate directly with community members on financial education and assist with establishing basic banking services. The Connector Group also cultivates direct relationships with Indigenous economic development corporations, Nations, and entrepreneurs. While other financial institutions are closing remote branches, Innovation FCU is committed to opening them in areas with limited or no access to financial services.

Specific Claims Financing offers First Nations bands the capital necessary to pursue specific claims with the federal government. These claims relate to the fulfilment of historic treaties and other agreements. This specialized financing product does not encumber the Nation, and Innovation FCU conservatively estimates that the three bands currently engaged with the program will save over $30 million compared to traditional legal routes. These savings contribute to long-term sustainability and positive impacts for the communities.

Innovation FCU has also developed a ‘no questions asked’ emergency overdraft program for remote and northern communities affected by wildfires. This initiative provides members with peace of mind as they navigate the challenges posed by these natural disasters.

Innovation FCU supports members in accessing programs such as the Energy Efficient Home Renovation Loans in collaboration with CMHC (Canada Mortgage and Housing Corporation) and the CMHC Green Home program. These initiatives enable eligible members to receive a refund of up to 25% of the loan premium. Additionally, Innovation FCU assists members in participating in the Auto Loan for Zero-Emission Vehicles Incentive, offered through the Government of Canada, which provides incentives of up to $5,000 for qualifying zero-emission vehicles (ZEV).

Innovation FCU has partnered with NEI Investments, Canada’s leading provider of Responsible Investment (RI) solutions, to create a positive impact for investors, partners, and society at large. NEI offers Canada’s most diversified selection of actively managed RI funds, advised by top institutional money managers and overseen by NEI’s propriety Investment Management, Asset Allocation, and Environmental, Social, and Governance (ESG) teams.

Innovation FCU’s Young Farmers Financing Program supports new farmers under 40 in entering an industry that is often challenging to break into without a farming background. The program offers preferred rates and enhanced flexibility in credit access for start-up farmers with higher risk profiles and low equity. This initiative helps promote greater diversity and opportunity within the farming sector, while also contributing to food security and fostering innovation.

In addition, Innovation FCU makes direct investments in green and sustainable projects, such as the Saskatchewan Solar Co-Opp and the Water Equity Fund.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Innovation FCU, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.innovationcu.ca/content/dam/innovationcu/en/resources/2023-principles-responsible-banking-self-assessment.pdf

Note to Innovation FCU: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Following the materiality analysis conducted in 2017 on its sustainable development priorities, Desjardins surveyed its members in 2024, with most (73%) indicating that sustainable development is important to them. Over recent years, Desjardins has carried out additional polls of its personal and business members and clients to better understand their priorities and concerns related to sustainability and responsible finance. These surveys have provided further insights into how well Canadians comprehend sustainable development and responsible finance.

Surveying stakeholders has helped Desjardins identify what matters most to its members and clients. These priorities are addressed in the “Listening to Our Stakeholders” section of Desjardins’ Social and Cooperative Responsibility Report. Desjardins collaborates with all levels of government, regulators, and other standard-setting organizations on various issues, also covered in the same section of the report.

Through numerous partnerships, Desjardins is dedicated to supporting communities in making the energy transition and taking action against climate change and biodiversity loss. These partnerships facilitate university research and training, promote the development of practical solutions for economic actors, and foster climate education and engagement. For more information, please see the diagram of Desjardins’ environmental and climate action partners.

Desjardins also participates in several working groups established by UNEP FI to support the implementation of the Principles for Responsible Banking (PRB), the Principles for Sustainable Insurance (PSI), and the Commitment to Financial Health and Inclusion. These groups provide opportunities to collaborate and advance initiatives addressing ESG issues with other financial institutions worldwide.

Additionally, Desjardins is a member of the Climate Montreal Partnership (in French only), a coalition of nearly 100 Montreal-based economic, philanthropic, institutional, and environmental stakeholders working together to accelerate Montreal’s decarbonization and build climate resilience within the timelines required by climate science. It is also part of the Quebec Climate Partnership’s engagement committee (in French only), which aims to mobilize the people and driving forces of Quebec City’s economy. As an ambassador supporting climate action in Quebec City, Desjardins contributes to setting priorities for action and plans to participate in future climate action summits in the province’s capital.

How did Desjardins identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Reporting and Self-Assessment Template Desjardins reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Desjardins aims to contribute to the energy transition for society through various initiatives: developing responsible finance products, engaging shareholders, investing in and financing renewable energy projects, supporting university programs that train skilled workers—particularly in responsible finance and the circular economy—and strengthening electric transportation infrastructure by adding charging stations in communities across Quebec and Ontario.

For an overview of Desjardins’ approach and the ESG products offered to members and clients, please refer to the Climate-Related Opportunities section of the Climate Action at Desjardins report. This report also highlights business opportunities associated with climate change.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Desjardins, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.desjardins.com/content/dam/pdf/en/about-us/community/sustainable-development/reports/2024-principles-responsible-banking.pdf

Note to Desjardins: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Zenus Bank is committed to actively and responsibly engaging with key stakeholders—including local regulators, investors, and its executive team—to support the achievement of broader societal goals. Each stakeholder group plays a vital role in shaping Zenus Bank’s strategy, ensuring compliance, and aligning the bank’s efforts with long-term sustainability objectives.

As Zenus Bank expands its banking services, it also aims to connect with external stakeholders who share the bank’s commitment to the United Nations Sustainable Development Goals (SDGs) and the most impactful areas aligned with its mission. This network will include industry experts, environmental organizations, community leaders, advocacy groups, and others who offer diverse perspectives and specialized expertise. These collaborations will not only strengthen Zenus Bank’s strategic initiatives but also foster valuable partnerships to promote sustainability, gender equality, financial health, and financial inclusion.

By incorporating stakeholder insights and feedback, Zenus Bank can make more informed decisions and refine its action plans. This collaborative approach will enhance the effectiveness of the bank’s efforts and help Zenus Bank adapt to the changing landscape of the financial industry, creating meaningful, long-lasting positive impact.

How did Zenus Bank identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Reporting and Self-Assessment Template Zenus Bank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Zenus Bank consistently identifies key business opportunities and takes steps to grow its services. In 2024, Zenus Bank further pinpointed strategic business opportunities and expanded its offerings. The bank planned to launch corporate accounts by the end of the year and has already implemented B2B2C solutions through BIN Sponsorship and virtual accounts.

This growth enhances Zenus Bank’s impact on Gender Equality, Financial Health, and Financial Inclusion. By onboarding a diverse range of businesses, Zenus Bank addresses global banking needs, providing accessible USD accounts and targeting customers committed to sustainability initiatives. Additionally, Zenus Bank offers secure, transparent solutions for NGOs managing public funds, ensuring seamless financial transactions that align with its broader commitments to inclusion and sustainability.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Zenus Bank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://zenus.com/media/mrxlt5hg/2024-zenus-unep-fi-report.pdf

Note to Zenus Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Following the materiality assessment Desjardins conducted in 2017 on its sustainable development priorities, it surveyed its members in 2024, with the majority (73%) indicating that sustainability is important to them. Over recent years, Desjardins has carried out additional surveys with its personal and business members and clients to better understand their priorities and concerns related to sustainability and responsible finance. These surveys have provided valuable insights into Canadians’ understanding of sustainable development and responsible financial practices.

Engaging with its stakeholders has helped Desjardins identify what matters most to its members and clients. Desjardins has addressed these priorities in the “Listening to Our Stakeholders” section of its Social and Cooperative Responsibility Report. Additionally, Desjardins collaborates with government entities, regulators, and other standard-setting organizations on various issues, which are also detailed in this section.

Through numerous partnerships, Desjardins is dedicated to supporting communities in the energy transition and taking action against climate change and biodiversity loss. Desjardins’ collaborations promote university research and training, develop practical solutions for economic actors, and advance climate education and engagement.

Desjardins has participated in several working groups organized by UNEP FI to support the implementation of the Principles for Responsible Banking (PRB), the Principles for Sustainable Investment (PSI), and the Commitment to Financial Health and Inclusion. These groups facilitate discussions and collaborative efforts on ESG topics with financial institutions worldwide. Desjardins is also a member of the Climate Montreal Partnership (French only), a coalition of nearly 100 stakeholders from Montreal’s economic, philanthropic, institutional, and environmental sectors working together to accelerate decarbonization and enhance climate resilience in line with scientific timelines.

Furthermore, Desjardins is part of the Quebec Climate Partnership’s engagement committee (French only), which aims to mobilize Quebec City’s economic and social forces. As an ambassador for climate action in Quebec City, Desjardins contributes to setting priorities for action and plans to participate in future climate action summits held in the province’s capital.

What actions were taken by Desjardins on its PRB targets, climate stability and housing?

In its 2024 PRB Reporting and Self-Assessment Template Desjardins reports that it took the following actions on its PRB targets, climate change mitigation and financial inclusion and health:

• SMART Target 1: Climate stability
• Desjardins has established several targets to monitor its progress toward its 2040 climate goals and other climate-related commitments. Additionally, Desjardins has set targets for managing climate-related risks. These goals encompass its insurers’ investments, the financing Desjardins provides, and its operational activities. Desjardins formulated these targets based on recognized methodologies and frameworks, such as the Science Based Targets initiative (SBTi), the Net Zero Asset Managers initiative, and baseline climate transition scenarios aligned with the aim of limiting global temperature rise to 1.5°C or less than 2°C by the end of the century.
• As of December 31, 2024, eight targets were on track, while seven required further attention or were at risk.

• SMART Target 2: Housing
• Thanks to the faster-than-anticipated progress on this indicator, Desjardins anticipates surpassing this target in 2025. As of December 31, 2024, seven housing projects, totalling 1,182 units, were completed, while twelve projects, comprising 780 units, were under construction.
• Desjardins’ results indicate that it has reduced the wait times for project financing once all necessary information is provided. This leads to lower construction costs, allowing for more units to be built and maximizing benefits for Desjardins’ members and clients. Desjardins’ streamlined service and single-channel support enable it to address issues efficiently and effectively.

Number of affordable housing units, completed and in progress	2024	2023
Number of completed units	1,182	1,020
Number of in-progress units	780	194

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
• FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
• FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Desjardins, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.desjardins.com/content/dam/pdf/en/about-us/community/sustainable-development/reports/2024-principles-responsible-banking.pdf

Note to Desjardins: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

BMO maintains regular, open, and meaningful communication with its stakeholders. For an overview of its engagement on issues related to climate change and financial inclusion, please refer to page 21 of the 2023 Sustainability Report. BMO also collaborates with industry leaders, government officials, academic institutions, and investors to understand and tackle the challenges that impact both its business and society. Details about these groups can be found on page 17 of the 2023 Sustainability Report, as well as pages 28-30 of the 2023 Climate Report.

A key aspect of BMO’s Climate Ambition is convening stakeholders to promote climate action. In 2023, for instance, BMO chaired the Canadian Bankers Association’s Environmental Specialists Group and Climate Scenario Analysis Working Group to engage in advocacy regarding privacy regulations, environmental and social risk management, climate change, sustainable finance, and disclosure regulations. BMO Global Asset Management (GAM) actively engages with policymakers to advocate for climate change initiatives. In 2023, BMO GAM submitted comment letters relating to various environmental disclosure standards, including the TNFD draft guidance, the U.S. Environmental Protection Agency’s methane standards for the oil and gas sector, and the International Sustainability Standards Board Consultation on Agenda Priorities.

BMO U.S. also established a partnership with the National Association of Real Estate Brokers, the leading network of Black professionals which includes a down payment assistance program for graduates from historically Black colleges and universities as well as predominantly Black institutions. This initiative aligns with the bank’s commitment to invest US$7.5 billion to enhance access to homeownership, including the expansion of BMO’s Welcome Home Grants. Over half of this funding is anticipated to benefit individuals and communities of colour.

Additionally, BMO is a member of the PRB Core Group, which is dedicated to advancing the Principles for Responsible Banking (PRB). The Core Group, representing the PRB signatory community, is tasked with leading the development of the 2030 Vision for PRB, further refining the PRB framework to reflect the evolving landscape and expectations, and guiding members in fulfilling their commitments and targets during the 5-10 years of their PRB journey.

What actions were taken by BMO on its PRB targets, climate change and housing?

In its 2024 PRB Reporting and Self-Assessment Template BMO reports that it took the following actions on its PRB targets, climate change and housing:

• SMART Target 1: Climate change
• For each sector for which BMO has set decarbonization targets, the organization continues to disclose financed emissions in accordance with the PCAF Standard and other widely recognized metrics, such as emissions intensity, to effectively monitor progress. In 2023, BMO established the Climate Commercialization Working Group, a sub-committee of the ESG Executive Committee, to coordinate climate finance efforts related to its Climate Ambition. BMO’s Capital Markets group has created a foundation of energy transition and climate-related products and services, which are delivered through the Energy Transition Group, the Sustainable Finance team, and BMO Radicle to support the achievement of the set targets. Details regarding BMO’s climate-related product offerings and services, as well as their impact on priority topics, sectors, and targets, are outlined on pages 22-27 of the Climate Report.
• BMO also addresses its implementation strategy for products, services, policies, activities, and decision-making that contribute to achieving each of its financed emissions targets individually, along with its engagement strategy with stakeholders, in Appendix A of the Climate Report. Some of the notable actions discussed include:
• Developing sustainable finance products, such as transition bonds, where financing is contingent on decarbonization key performance indicators (KPIs)
  • Tracking energy transition financing
  • Pursuing opportunities for financing clean power generation
  • Collaborating with clients to provide advisory services and financing for both current and new clean energy generation and related technologies
• As part of its target monitoring initiatives, BMO has advanced its climate-related data and analytics program, focusing on creating technology solutions to enhance the acquisition, identification, and utilization of climate and sustainability data across the organization. This project included the formulation of a multi-year roadmap aimed at strengthening BMO’s data and analytics capabilities to facilitate risk reporting, inform decision-making, and track progress on internal climate commercialization goals and other climate-related metrics.

• SMART Target 2: Housing
• In the U.S., federally insured depository institutions are obligated to support the credit needs of the communities they serve, including low-to-moderate income communities. BMO has held listening sessions with community partners who have indicated a need for affordable housing in their areas. The process for setting targets was based on the combined legacy of BMO and Bank of the West’s residential home purchase and home improvement mortgage units to low-to-moderate income (LMI) and minority borrowers, as well as in LMI and majority-minority census tracts. This approach represents a 25% increase over baseline performance from 2019 to 2021.
• Goals and key performance indicators (KPIs) are tracked and monitored through monthly dashboard reports and a quarterly oversight committee that includes members from all contributing lines of business to review results and evaluate strategy. Measures contributing to this progress are detailed in BMO’s 2023 Sustainability Report.
• BMO has also implemented an internal data collection process to measure and monitor progress toward its $12 billion commitment to finance affordable housing in Canada, supporting the Canada Mortgage and Housing Corporation (CMHC) aspiration that all Canadians have access to homes that are affordable and meet their needs by 2030. As of the end of the 2023 fiscal year, BMO had allocated $7.2 billion in capital to affordable and accessible housing through authorized lending to clients with commercial real estate developments that met the CMHC’s definition of “affordable housing,” authorized lending for BMO’s On-Reserve Housing Loan Program which provides financing for eligible individuals wishing to build or purchase a personal residence located on reserve, and securitizing affordable mortgage pools under the Canada Mortgage Bond program.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
• FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
• FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by BMO, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://our-impact.bmo.com/wp-content/uploads/2024/07/2024-PRB_EN.pdf

Note to BMO: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Areti Bank recognizes the vital role of engaging with a diverse range of stakeholders to strengthen its sustainability efforts and align with global initiatives. This thorough engagement involves partnerships and collaborations with key organizations that help to shape and improve the bank’s sustainability practices.

A major partnership is with the United Nations Environment Programme Finance Initiative (UNEP FI), where Areti Bank works collaboratively to incorporate environmental considerations into its operations, utilizing their expertise and frameworks.

This alliance enables the bank to implement best practices in sustainable finance and align with international environmental objectives. Throughout 2023, Areti Bank has worked closely with UNEP FI on various initiatives, particularly within three working groups: Nature, Just Transition, and Adaptation. These groups aim to develop guidelines for establishing targets that banks can use to reduce environmental and social risks, while also promoting sustainable practices. Through this collaboration, Areti Bank helps in creating industry standards and best practices that support global environmental goals.

Additionally, as a signatory to the UN Global Compact, Areti Bank is dedicated to promoting principles pertaining to human rights, labor standards, environmental sustainability, and anti-corruption. The bank engages with the Global Compact network to exchange knowledge, share experiences, and participate in initiatives, such as webinars and accelerators, that encourage responsible business practices. This involvement bolsters the bank’s capability to incorporate these principles into its operations and cultivate a culture of responsible business conduct.

Areti Bank is also part of the Partnership for Carbon Accounting Financials (PCAF), which enables the bank to measure and report the carbon footprint of its financial portfolios. By evaluating climate-related risks and opportunities, Areti Bank integrates carbon accounting into its risk management practices and establishes targets for carbon reduction that align with global climate objectives.

Furthermore, Areti Bank collaborates with the Partnership for Biodiversity Accounting Financials (PBAF), which focuses on embedding biodiversity considerations into financial decision-making. This partnership allows the bank to develop methodologies and standards for assessing the biodiversity impacts of its operations and financed activities. By implementing biodiversity accounting practices endorsed by PBAF, Areti Bank enhances its capacity to manage environmental risks and supports sustainable development goals related to biodiversity conservation.

Areti Bank is also a participant in the Net Zero Banking Alliance, committing to align its lending and investment portfolios with net-zero emissions targets by 2050. By collaborating with other alliance members, the bank formulates strategies, sets interim targets, and applies measures that contribute to overarching efforts to combat climate change.

Moreover, Areti Bank has made a Fossil Free Commitment, vowing not to finance or invest in fossil fuels or related assets, and instead focusing on renewable energy projects. This commitment aligns with global efforts to restrict climate change and promotes sustainable energy solutions.

The stakeholder engagement process at Areti Bank is systematic and comprehensive. The bank identifies relevant stakeholders based on their influence, interests, and expertise in sustainability and finance. Key stakeholders include regulatory bodies, industry associations, nongovernmental organizations (NGOs), customers, investors, and community groups.

Regarding the issues addressed and results achieved, Areti Bank’s collaboration with UNEP FI and PCAF enhances its environmental risk management practices. The bank measures its carbon footprint and implements strategies to reduce greenhouse gas emissions linked to its financed activities. Through engagement with the UN Global Compact and PBAF, Areti Bank strengthens its commitment to human rights, labor standards, and community development, particularly regarding financial inclusion.

Stakeholder feedback is essential to Areti Bank’s action planning. The bank conducts consultations, workshops, and stakeholder meetings to gather insights and feedback on its sustainability initiatives. This collaborative approach fosters the co-creation of solutions to shared challenges. The results of stakeholder engagement inform the bank’s impact assessments, allowing it to prioritize actions such as enhancing sustainable finance offerings, increasing transparency in reporting, and scaling up investments in green technologies.

Looking ahead, Areti Bank remains dedicated to deepening its engagement with stakeholders, expanding partnerships, and integrating sustainability considerations into its core business strategy. By working with diverse stakeholders, the bank aims to generate positive impacts, mitigate risks, and contribute to global sustainable development goals.

How did Areti Bank work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2023 PRB Reporting and Self-Assessment Template Areti Bank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows

Client Engagement for Sustainable Practices:

Areti Bank is committed to promoting sustainable practices among its clients by incorporating environmental, social, and governance (ESG) considerations into its core banking operations. The bank actively collaborates with stakeholders to advance sustainability in various ways.

To begin with, Areti Bank implements comprehensive policies that guide its approach to sustainable banking. These policies prioritize the integration of sustainability criteria within lending decisions, investment strategies, and client engagement processes. By embedding these criteria at the heart of its operations, the bank ensures that a significant portion of its financial activities contributes to a more sustainable future.

To facilitate the transition of clients toward more sustainable economic activities, Areti Bank plans to offer a variety of sustainable finance products. These will include green loans and investments that provide favourable financing terms for renewable energy projects, clean technology initiatives, and sustainable production practices. Additionally, the bank will introduce ESG-linked products that tie financial terms and conditions to specific environmental and social performance metrics, encouraging clients to enhance their sustainability practices.

Areti Bank is also developing a strategic initiative called Areti Advisers, which will provide advisory services to help clients understand and adopt sustainable investment practices. This service will assist businesses in implementing cleaner production technologies and practices to reduce environmental impact. Furthermore, the bank aims to offer strategic guidance for clients in crafting sustainability strategies aligned with international frameworks such as the Sustainable Development Goals (SDGs) and the Paris Agreement.

To evaluate the effectiveness of its sustainable banking initiatives, Areti Bank will monitor a range of indicators. These metrics will include quantifying the number and value of loans granted for sustainable energy projects, environmental technology ventures, and other green initiatives. The bank will also assess the integration of ESG criteria into client relationships and investment decisions and report on the environmental and social impacts achieved through client projects supported by its financing and advisory services.

Areti Bank aspires to create positive societal and environmental impacts through its client engagements. Environmentally, the bank plans to contribute to reducing greenhouse gas emissions by financing renewable energy projects and promoting resource-efficient practices. Socially, it will address inequalities by supporting initiatives aimed at improving access to clean energy, enhancing employment opportunities in green sectors, and fostering inclusive economic growth.

Looking to the future, Areti Bank intends to intensify its efforts to promote sustainable practices among clients. This includes increasing the availability and diversity of green financial products to meet evolving market demands and regulatory requirements. The bank also seeks to launch educational programs and workshops to enhance clients’ understanding of the benefits of sustainable finance and best practices. These educational initiatives will be integrated into the Areti Academy program, offering comprehensive resources for clients and staff. Additionally, Areti Bank plans to strengthen partnerships with government agencies, NGOs, and industry associations to collaboratively advance sustainable development goals.

Through these extensive efforts, Areti Bank reaffirms its strong commitment to sustainability, fostering positive environmental and social impacts while supporting clients in their journey toward more sustainable business practices.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Areti Bank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://aretibank.com/wp-content/uploads/2024/08/PRB-Report-Areti-Bank-09-08-2024-09_59_18_605.pdf

Note to Areti Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Amalgamated Bank promotes a corporate culture that encourages open communication across its stakeholders through both formal and informal channels. The bank values meaningful engagement with its stakeholders, consistently addressing key issues of importance to them.

• Employees: Topics such as business strategy, industry trends, and the competitive environment are shared through town halls, newsletters, and meetings, along with Q&A sessions with management.
• Customers & Communities: The bank prioritizes social responsibility through initiatives like affordable housing loans, fossil fuel-free investments, green lending, financing for community development financial institutions, lending to minority-owned businesses, and debit card options that allow for money to be donated to charities, among others.
• Investors: Details of Amalgamated Bank’s financial performance and transparent disclosures on its CSR initiatives are shared via financial reports, regulatory filings, and proxy statements.
• Industry Alliances and Affiliations: Collaborating with industry partners, the bank addresses important issues such as climate change, financial inclusion, LGBTQ+ rights, immigrant rights, gun safety, workers’ rights, diversity, and community development.
• Unionized Labour: Regular engagement with the bank’s unions focuses on workers’ rights, retirement security, and workplace safety.

How did Amalgamated Bank work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2023 ESG Summary Amalgamated Bank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Amalgamated Bank is collaborating with its clients to provide more capital that supports both people and the planet, as evidenced by its loans to high-impact sectors. The bank has partnered with long-standing clean energy clients to expand into areas such as micro-grids and energy storage, while continuing to strengthen its financing for workforce and affordable housing. Additionally, Amalgamated Bank has worked with clients at the intersection of equity and climate on the development of new federal programs that rely on private capital for success.

In terms of building a comprehensive investment portfolio, Amalgamated Bank believes there is a strong connection between a values-driven approach and long-term value creation. The Investment Services team works closely with clients and investment managers to create values-aligned portfolios. Last year, the bank launched a fossil fuel-free portfolio series that addressed the intersection of climate and racial justice impacts.  Amalgamated Bank believes that by owning ESG funds, investors become more engaged advocates for change. These investments take an active stake in the companies or organizations committed to sustainable practices such as environmental protection and tackling social equity issues.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Amalgamated Bank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://amalgamatedbank.com/sites/default/files/2023_CSR_Report.pdf

Note to Amalgamated Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

As a member-owned cooperative, Innovation FCU prioritizes engaging and collaborating with stakeholders to shape its future and its community efforts. Innovation FCU’s next step is to incorporate the Principles for Responsible Banking into these consultations and establish a formal process for engaging stakeholders in conversations and action plans around sustainability as defined by the PRB. Currently, Innovation FCU engages and consults with the following stakeholder groups:

Members: Innovation FCU conducts member research and feedback surveys throughout the year. Innovation FCU’s high level of community engagement, giving, and opportunity creation has led to positive social equity in terms of sustainability.

Board: The board has a Community and Member Relations committee. Management reports to this committee quarterly and collaborates with them to advance and report on CSR and ESG initiatives.

Innovation Nation (Innovation FCU’s People): Guided by its codebook and the internal mantra of Responsible Banking, Innovation FCU’s culture focuses on “doing the right thing.” In its smaller communities, Innovation FCU’s people act as its eyes and ears, providing continuous feedback on community issues. Innovation FCU dedicates funds and volunteer hours for its staff to invest in their communities.

First Nations Leaders: Innovation FCU’s executive team and board members have been building relationships with First Nations leaders and communities to understand their unique challenges, including those related to remote and northern locations, community needs, perceptions around money, financial education, environmental and cultural preservation, economic growth, and the pursuit of specific claims. Innovation FCU is forming partnerships with “the next seven generations” in mind.

CCUA: The Canadian Credit Union Association is a valuable partner and stakeholder with multiple working groups focused on sustainability. Through these groups, Innovation FCU shares insights and learns from other Canadian credit unions on how they approach sustainability and evolving regulatory requirements.

The next step for Innovation FCU is to deliberately integrate conversations around its areas of impact and targets with these groups.

How did Innovation FCU work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2022 and 2023 PRB Self-Assessment Report Innovation FCU reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Innovation FCU has always collaborated closely with the communities it serves to foster sustainability and prosperity, which is integral to its approach. Innovation FCU’s next step is to evolve and formalize these inherent practices to meet the requirements of the PRB, deepen its understanding of its impact areas, and achieve its chosen targets.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Innovation FCU, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.innovationcu.ca/content/dam/innovationcu/en/resources/2022-principles-responsible-banking-self-assessment.pdf

Note to Innovation FCU: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.