Is Human Nature a Threat to Sustainable Banking?

Is human nature a threat to sustainable banking?http://www.worldfinance.com/banking/is-human-nature-a-threat-to-sustainable-banking

Un modelo de banca para salvar nuestro planeta: ese “pálido punto azul”.

El próximo jueves , día 22 de octubre de 2015, celebramos, la segunda edición anual del día mundial de la banca con valores (#BankingOnValues), auspiciado por los 27 bancos miembros de la Alianza Global para una Banca con Valores (www.gabv.org) y por otros socios estratégicos en los cinco continentes.

Algunos se estarán planteando qué hacen unos banqueros celebrando algo como “el día de la banca con valores”. ¿Qué demonios es eso? ¿El negocio de la banca no tiene que ver con ganar dinero?

La respuesta es no. Ese no es y no debería ser el negocio de la banca.

Todos los seres humanos de este planeta, con independencia de nuestras creencias, de nuestra nacionalidad de nuestra raza, de nuestra profesión o de nuestro sexo, tenemos una obligación para con el resto de la humanidad y para con la tierra que nos alberga. Ese planeta que la famosa fotografía, titulada “Un pálido punto azul”, tomada por la sonda Voyager I en febrero de 1990 desde seis mil millones de kilómetros de distancia, muestra perdido y solitario en la inmensidad de un universo grandioso que debería convidarnos a la humildad y a la reflexión.

Todas los seres humanos: agricultores, ingenieros, comerciantes, enfermeras o banqueros, compartimos esa responsabilidad. Responsabilidad que, en el caso de los banqueros, como en el de cualquier otra persona, no es la de conseguir cada vez mayores beneficios o mayores ingresos, sino la de dejar un mundo mejor para las próximas generaciones, un mundo más justo, una tierra más limpia, y hacerlo, en nuestro caso, desde la actividad propia de la banca.

Los beneficios y el valor para el accionista no pueden ser más que consecuencias de ejercer esa responsabilidad primaria. No podemos “hacer el bien” los fines de semana y “hacer negocios” durante los días laborables. Todos deberíamos tener siempre a mano la  fotografía tomada por la sonda Voyager I para recordarnos quiénes somos, para visualizar nuesra fragilidad e insignificancia.

Por eso este año, el jueves 22 de octubre, los más de 30.000 banqueros de la GABV, 27 miembros, distintos asociados, reguladores, políticos y público en general nos sumaremos a diversos webcast y conversaciones en las redes sociales cara a  apoyar el movimiento para una banca con valores que se pregunte “¿Por qué no toda la banca lo hace igual?” Los banqueros de la GABV lo hacemos porque queremos reafirmar nuestro compromiso con la humanidad, con la lucha contra las desigualdades y con la preservación de nuestro maravilloso pálido punto azul. Ese insignificante punto en un universo infinito, pero el único punto en el que asentar nuestra existencia.

Te invito a celebrar con nosotros el dia de la banca con valores. Sigue el hashtag #BankingOnValues y participa de nuestros debates. Explica a tus amigos y familiares que existe un grupo de bancos diferentes que ponen al ser humano muy por encima de los beneficios y que, desde la banca, trabajan por un mejor futuro para ese pálido punto azul y para aquéllos que lo habitamos.

De una forma u otra, todos somos banqueros. Dónde y con quién decidas llevar a cabo tu actividad bancaria, marca la diferencia.

En palabras del famoso astrónomo Carl Sagan:

“Desde este lejano punto de vista, la Tierra puede no parecer muy interesante. Pero para nosotros es diferente. Considera de nuevo ese punto. Eso es aquí. Eso es nuestra casa. Eso somos nosotros. Todas las personas que has amado, conocido, de las que alguna vez oíste hablar, todos los seres humanos que han existido, han vivido en él. La suma de todas nuestras alegrías y sufrimientos, miles de ideologías, doctrinas económicas y religiones seguras de sí mismas, cada cazador y recolector, cada héroe y cobarde, cada creador y destructor de civilizaciones, cada rey y campesino, cada joven pareja enamorada, cada madre y padre, cada niño esperanzado, cada inventor y explorador, cada profesor de moral, cada político corrupto, cada “superestrella”, cada “líder supremo”, cada santo y pecador en la historia de nuestra especie ha vivido ahí —en una mota de polvo suspendida en un rayo de sol.

La Tierra es un escenario muy pequeño en la vasta arena cósmica. Piensa en los ríos de sangre vertida por todos esos generales y emperadores, para que, en gloria y triunfo, pudieran convertirse en amos momentáneos de una fracción de un punto. Piensa en las interminables crueldades cometidas por los habitantes de una esquina de este píxel sobre los apenas distinguibles habitantes de alguna otra esquina. Cuán frecuentes sus malentendidos, cuán ávidos están de matarse los unos a los otros, cómo de fervientes son sus odios. Nuestras posturas, nuestra importancia imaginaria, la ilusión de que ocupamos una posición privilegiada en el Universo... Todo eso es desafiado por este punto de luz pálida. Nuestro planeta es un solitario grano en la gran y envolvente penumbra cósmica. En nuestra oscuridad —en toda esta vastedad—, no hay ni un indicio de que vaya a llegar ayuda desde algún otro lugar para salvarnos de nosotros mismos.

La Tierra es el único mundo conocido hasta ahora que alberga vida. No hay ningún otro lugar, al menos en el futuro próximo, al cual nuestra especie pudiera migrar. Visitar, sí. Colonizar, aún no. Nos guste o no, por el momento la Tierra es donde tenemos que quedarnos. Se ha dicho que la astronomía es una experiencia de humildad, y formadora del carácter. Tal vez no hay mejor demostración de la locura de la soberbia humana que esta distante imagen de nuestro minúsculo mundo. Para mí, subraya nuestra responsabilidad de tratarnos los unos a los otros más amable y compasivamente, y de preservar y querer ese punto azul pálido, el único hogar que siempre hemos conocido.

Banking to Save Our Planet: The Pale Blue Dot

This Thursday, October 22 2015, we will celebrate the second annual international #BankingOnValues day. The awareness campaign is supported by strategic partners, members of the public, and amplified by up to 27 member banks of the Global Alliance for Banking on Values (www.gabv.org) across five continents. One voice, with one message, on one day.

Some might wonder why a crowd of bankers are collaborating on an initiative that links banking with values. What on earth is it? Is it possible? Isn’t all banking just about taking advantage, and making money in the easiest, fastest way possible?

The answer is no. This is not and should not be the business of banking.

All human beings on this planet, regardless of creed, colour, nationality, or profession have a connection and obligation to people and planet. Portrayed as A Pale Blue Dot in the famous photograph taken by the Voyager I space probe back in February 1990, our planet, our home, looks small when compared with the vast universe. The photo inspires us to reflect upon the importance of our interdependence and connectedness. And the obligation we should have towards each other.

Whether you’re a farmer, engineer, shopkeeper, nurse or banker, we share a responsibility. This responsibility, in the case of bankers, is not about making profit at any cost, but about leveraging finance to leave a better future for the next generation: a fairer world, a cleaner planet, and a more just economy.

Profit and shareholder value shouldn’t be the only consequences of doing business or doing banking. It is detrimental and short-sighted for bankers to make a killing during the working week, and “do good’’ at the weekends.  We need to flip this on its head, and change our banking models to leverage all of our people, capital and resources to use banking to support and increase economic, social and environmental impact. Having the Pale Blue Dot photo in each of our offices might just remind us of the critical role we play in society and the obligation we need to keep in our minds.

That’s why this year, on October 22, more than 30,000 bankers of the GABV, 27 members, multiple partners, and interested policy makers, regulators and passionate public will join webcasts, and social media conversations to grow a #BankingOnValues movement that asks: “Why isn’t all banking done this way?”  Values-based bankers do it because we want to highlight our commitment to people, planet and prosperity. We do it because of our commitment to something greater. We do it for the protection of our Pale Blue Dot.

I invite you to join us on #BankingOnValues Day (www.gabv.org/bankingonvalues). Follow the hashtag #BankingOnValues and participate in our debates. Tell your family and friends that there is a group of bankers that bank in a different way, putting people before profit; working for a better future for our Pale Blue Dot.

We are all bankers, after all. Where you choose to do your banking really matters.

In the words of famous astronomer, Carl Sagan:

“From this distant vantage point, the Earth might not seem of any particular interest. But for us, it's different ….. Our imagined self-importance, the delusion that we have some privileged position in the universe, are challenged by this point of pale light. Our planet is a lonely speck in the great enveloping cosmic dark. In our obscurity – in all this vastness – there is no hint that help will come from elsewhere to save us from ourselves ...... To me, it underscores our responsibility to deal more kindly with one another and to preserve and cherish the pale blue dot, the only home we've ever known.”

An Appeal to Bankers

The United Nations, supported by 193 UN members recently adopted the Sustainable Development Agenda, which features seventeen ambitious goals aimed at radically improving our planet by 2030; making it more sustainable and more equitable for all.

Relevant and significant goals for a world in need of deep change.

However, the adoption of those goals by the United Nations, while an important milestone, is not enough. We need a majority of countries collaborating to adopt the seventeen sustainable development goals, and that adoption needs to be supported by citizens, and the political and economic sectors, to facilitate lasting change.

If there is one sector whose commitment to sustainable development goals is of a paramount importance, it is banking.

Although, it would indeed help, I do not mean that all banks should be devoting a small part of their profits to charitable initiatives in line with the sustainable development goals. I’m talking about something else, something deeper, and something that could radically change the face of our planet.

Banks are economic players, intermediaries of savers/investors and borrowers/investees. Banks have an opportunity to rethink their role in society, to place themselves back in service of the people, organisations and communities that entrust them with their hard earned cash. Banks can be incredibly powerful catalysts for positive economic, social and environmental change.  And banks can have it both ways: maximizing good profits for shareholders and stakeholders in the long term, and supporting a more equitable, healthier and balanced world. 

A great first (and simple step) for banks is to incorporate positive screening criteria in their lending policies to ensure they invest in more responsible and transparent ways. A second step is to use criteria based upon the sustainable development goals to ensure they are finding ways to invest their people, capital and resources to create positive impact.

Banks belonging to the GABV (www.gabv.org) have been successfully and profitably practicing this kind of banking for decades.

Why isn’t all banking done this way?

If the banking industry shifted even some of their activities to support the UN’s sustainable development goals in the way described above, trillions of USD would be invested in organisations and initiatives all over the world in a way that would also gently push borrowers/investors to act in a way more aligned to the UN’s Sustainable Development Agenda.

This would really make a change, this is worthwhile. So, what are you waiting for?

GABV partners with GEFF2015 event to grow values-based banking

The Global Alliance for Banking on Values (GABV) is proud to have participated as an associated partner at the Global Ethical Finance Forum (GEFF2015) in Edinburgh, Scotland at the beginning of September. I also had the personal pleasure of participating as a speaker in the inaugural plenary session on Making the Case for Values in a Post-Financial Crisis World.

It’s always great to see appetite and activity building around the concept of values-based banking (also known as ethical, regenerative, or sustainable banking), and the GEFF2015  event really highlighted this trend.  

Hosted by the Scottish government and organized by Middle East Global Advisors with the cooperation of Thomson Reuters; the event focused on Convergence and Collaboration by calling for the harmonization of approaches to ethical and responsible finance across the world. More than 65 global leaders and 250 participants including bankers, asset managers, central bankers, pioneers in standards, issuers of green bonds and global networks; participated in ground-breaking dialogue on the future of the ethical finance industry, with a more in-depth look at ethical Islamic finance.

The main conclusions of the event are very much in line with the work and aspirations of the GABV.  Two of which are important to highlight:

-       The need to build on the opportunity of convergence between the variety of approaches in ethical finance e.g. Socially Responsible Investing (SRI); values-based or ethical banking; environmental, social and governance sectors; and the faith-based finance sectors. By building a harmonized approach we will increase collaboration, awareness and appetite for this type of financing.

-       The need to develop common standards and principles for the industry that will support this harmonization.

The GABV is already playing a role in the convergence of approaches to responsible finance and in setting the standards for the industry. For example we have built and promote a common set of guidelines for values-based banking members through the Six Principles of Sustainable banking, and in developing a banking Scorecard that we anticipate will become the common standard for all banks reporting on banking operations based on the above principles.

No less important is the work of the GABV in other fields: initiating the SFRE Fund to  deploy much needed growth capital to values-based banking institutions across the world, which helps GABV members and non-member financial institutions create more economic, social and environmental impact; and initiatives like the Leadership Academy that’s training the next generation of values based banking leaders.