Himal Press 
KATHMANDU: Banks and financial institutions around the world are being urged to recognize the force for good that banking can have on a growing number of climate and social issues that the global community is facing.
Global Alliance for Banking on Values (GABV), a movement of leading sustainable and inclusive banks worldwide, celebrates November 8 as ‘Banking on Values Day’. “Banking on Values Day is an annual event that seeks to reaffirm the crucial role that banks can play as a force for good. With a member base of over 70 banks and financial institutions operating in 45 countries, GABV seeks to use Banking on Values Day to transform the financial sector’s ways of working towards those that promote a greener, fairer future,” a statement issued by Muktinath Bikas Bank Ltd said.
“As well as encouraging existing, authentic efforts to deliver lasting change, the GABV urges that collaborative action and bigger, bolder thinking is critical if we are to find innovative new approaches that can help drive a transition to a low carbon, inclusive economy.”
According to the development bank, a global virtual panel discussion will take place on Wednesday with leaders from the Banking on Values movement about the limits and opportunities of ESG (Environment, Social and Governance) and how values-based banks implement a bolder approach to sustainability.
Til Bahadur Gurung, Assistant Deputy CEO of Muktinath Bikas Bank, said that banking can play a great role in social inclusion and uplifting communities. “This year’s theme of Banking on Values Day 2023, which is ‘Think Bolder’, has energized us to explore for CPS (Creative Problem Solving) approach to business operations that benefit both the society and the planet,” he added in the statement.
The GABV is made up of more than 70 pioneering banks, credit unions and microfinance institutions from across the world, advocating for banks to take a pivotal role in shaping the economy, society, and the environment.
