The Banking Environment Initiative (BEI) was initiated in 2010 with the support of The Prince of Wales to identify new ways in which banks can collectively stimulate the direction of capital towards environmental sustainable economic growth.
At the heart of the group’s vision lies a simple thesis: banks work for their clients and an initiative like this will only work if it is aligned with their interests and vice versa.
The BEI is tackling key sustainability issues through innovative bank-corporate partnerships on the following two themes:
- Collaboratory on Soft Commodities, a partnership with the Consumer Goods Forum (CGF) to help its 400 global companies achieve zero net deforestation in their supply chains by 2020.
- Collaboratory on Clean Energy: a bankclient partnership to unlock investments in clean energy.
The initial results of these partnerships were shared at the inaugural BEI Forum in London in November 2012, which included an opening address from The Prince of Wales.
The BEI will be hosting its second Forum for senior bank, corporate and other stakeholders in Shanghai in October 2013 to showcase its progress to date and gather insight for its future programmes.
The BEI currently comprises 10 global banking institutions stretching across Asia to Europe, the United States and Latin America: BNY Mellon, Barclays, China Construction Bank, Deutsche Bank, Lloyds Banking Group, Nomura, Northern Trust, Santander, Sumitomo Mitsui and Westpac.