Banking on Values Day in Nepal, elsewhere: Focus on local weather change this time

Muktinath Bikas Bank organises a door-to-door campaign to mark the Banking on Values Day in November 2022. Photo: Muktinath Bikas Bank
Muktinath Bikas Bank organises a door-to-door marketing campaign to mark Banking on Values Day in November 2022. Photo: Muktinath Bikas Bank

Kathmandu, November 7

Muktinath Bikas Bank, as a member of the Global Alliance for Banking on Values (GABV), is celebrating Banking on Values Day in Nepal additionally.

The financial institution says it’s organising a nationwide door-to-door marketing campaign to lift banking consciousness among the many public.

Meanwhile, the GABV will mark Banking On Values Day on November 10 by reaffirming the essential function that banks must play in tackling the basis causes of local weather change because the day this 12 months coincides with the United Nations Climate Change Conference (COP27).

“On the event of the COP27 ‘Finance Day’, the GABV urges the monetary sector, together with values-based banks, to stay as much as its commitments. At final 12 months’s COP26 Conference in Glasgow, UK, mainstream monetary establishments issued welcome public commitments and declarations designed to deal with local weather change and assist facilitate the transfer in direction of web zero,” the GABV says in an announcement, “One 12 months later, a lot of them proceed financing the fossil gasoline business at an industrial scale. A current report by Finance Watch estimates that 60 of the most important world banks nonetheless have round USD 1.35 trillion of publicity to fossil gasoline property.”

“Values-based banks have the ambition to place individuals and the planet on the centre of decision-making. With robust variety when it comes to dimension, enterprise mannequin, cultural contexts or markets they function in, they’ve a aim in frequent; to make use of finance to fulfill their wants and create a optimistic affect.”