In 2017, Verity joined the Global Alliance for Banking on Values, a network of banks and cooperatives with a shared mission to use finance to deliver sustainable economic, social and environmental development.
Founded in 2009, the GABV is made up of 62 members and 16 supporting partners operating on six continents. As a member, we take a triple bottom line approach to our banking, which means that people, planet and prosperity are at the heart of everything we do. This approach is reflected in our sustainable lending products and our credit union-wide commitment to volunteering in our communities.
Principles of values-based banking
Triple bottom line approach
People, planet, prosperity are at the heart of the business model
Real economy
Grounded in communities, serving the local economy, enabling new business models to meet the needs of both
Long-term resiliency
Self-sustaining through long-term outlook and resilient to outside disruptions
Transparency
Clear and inclusive governance
Client centered
Long-term relationships with a direct understanding of economic activities and the risks involved
Culture
All of the principles are embedded in the fabric of the financial institution
Climate Change Commitment
In 2019, Verity, along with 27 other members of the GABV, pledged to track and monitor the carbon impact of our loans and investments over the next three years. This Climate Change Commitment aligns with the Paris Agreement goals to keep global temperature increases under control.
The Climate Change Commitment is a powerful example of how the banking industry can take steps to address the climate crisis impacting our planet. By assessing our carbon impact, we can make financial decisions to limit the emissions impact of our financed assets.
To learn more about Verity’s commitment and see what other financial institutions are participating, visit gabv.org.
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