Gatehouse Bank celebrates five years since signing the UN Principles for Responsible Banking
Charles Haresnape, CEO of Gatehouse Bank at the UN General Assembly in 2019
This month marks the five-year anniversary of the UN Principles for Responsible Banking (UN PRB), of which Gatehouse Bank is a founding signatory and the first Shariah-compliant UK bank to sign up.
The Principles are the world’s foremost sustainable banking framework[1], aiming to guide the global banking sector to address environmental, social and governance (ESG) challenges. Developed by the United Nations Environment Finance Initiative (UNEP FI) following an extensive global consultation process, the UN PRB were launched by UN Secretary General, Antonio Guterres, and 130 founding members at the UN General Assembly in 2019. Over the last five years, the number of signatories has surpassed 330 banks, representing over half of the global banking industry.
By signing these Principles, Gatehouse Bank has made a commitment to strategically aligning its business and future strategy with the UN Sustainable Development Goals, Paris Climate Agreement and other international frameworks for sustainable development.
Over the last five years, key achievements have included formalising the Bank’s sustainability governance structure, establishing an initial roadmap to net zero, launching a green home finance product range* and Woodland Saver accounts** and supporting local charities through colleague fundraising and volunteering.
Gatehouse Bank has been independently certified as operationally carbon neutral for three consecutive years and has set further targets to reduce its financed emissions in line with the Paris Climate Agreement.
In 2021, the Bank re-affirmed its commitment to creating a fair society that supports financial prosperity by becoming a founding signatory to the UN PRB’s Commitment to Financial Health and Inclusion. One step towards honouring this commitment was launching the UK’s first Shariah-compliant Regular Saver account in 2023. The account aims to help young savers and other customers with smaller deposits build up a healthy savings habit while earning a competitive return on their deposits.
Gatehouse Bank will continue to positively engage with the UN and other signatory banks on progress against its targets and future strategy.
More information on Gatehouse Bank’s partnership with the UN PRB is available in its latest Sustainability Report.
*Gatehouse Bank’s green home finance products offer a reduced rental rate for customers purchasing or refinancing a home with an energy efficiency rating of A or B. Gatehouse also offsets the carbon emissions generated by the average UK property for as long as the customer remains with the Bank with a qualifying property.
**For every fixed-term deposit and cash ISA Woodland Saver account opened or renewed, Gatehouse Bank plants a tree on behalf of the customer in a certified UK woodland project.
[1] UNEP FI, https://www.unepfi.org/banking/bankingprinciples/