Crèdit Andorrà becomes signatory of the UN Principles for Responsible Banking

• The UN Principles for Responsible Banking are the framework for a sustainable banking industry, developed through the partnership of over 200 banks worldwide and United Nations Environment’s Finance Initiative

• The Bank reaffirms its position as a pioneer in CSR by being the first to become a signatory of the Principles of the UNEP FI, which it joined in 1998

Crèdit Andorrà has become an official signatory of the UN Principles for Responsible Banking, a single framework for a sustainable banking industry, developed through an innovative partnership between banks worldwide and United Nations Environment’s Finance Initiative (UNEP FI). The Principles for Responsible Banking set out the banking industry’s role and responsibility in shaping a sustainable future and in aligning the banking sector with the objectives of the UN Sustainable Development Goals and the 2015 Paris Climate Agreement. 

The Principles enable Crèdit Andorrà to embed sustainability across all its business areas, and to identify where it has the potential to make the most impact in its contributions to a sustainable world. They also position the Bank to leverage new business opportunities with the emergence of the sustainable development economy. 

Xavier Cornella, CEO of Crèdit Andorrà, said: “joining this commitment with the United Nations is a notable milestone for Crèdit Andorrà; it is another important step on our long journey of promoting sustainability in Andorra. We are very proud to be pioneers in this pursuit. This is a voluntary but necessary move for the banking sector”. In this respect, Cornella believes that “banks, as drivers of the economy, have the opportunity and responsibility to be the lever for change towards an economic model in which business goals incorporate environmental, social and good governance criteria that ensure sustainability today and into the future”.

Crèdit Andorrà reaffirms its position as a pioneering bank, now in terms of CSR, by being the first Andorran bank to become a signatory of the Principles for Responsible Banking. This represents one step further in its commitment to sustainability, a key pillar of its business and management strategy. The Bank also expresses this commitment as a member of various international bodies. Crèdit Andorrà has collaborated on the United Nations Environment Programme Finance Initiative (UNEP FI) since 1998 and, in 2016, it was the first Andorran bank to join the UN Global Compact and to adopt the 2030 Agenda to contribute to the achievement of the Sustainable Development Goals (SDGs). 

Since its very beginnings, the Bank has incorporated corporate social responsibility as a key element in its management, and it has promoted sustainability as a fundamental component in the organisation. By becoming a signatory to the Principles for Responsible Banking, the Bank reinforces its commitment to integrating sustainability in all areas of the business. 

There are currently 220 banks worldwide that have joined this movement for change, to enable the banking sector to make a positive contribution to the future of people and the planet.