Drive financial health and inclusion through target setting and implementation.

TLDR:

• Financial institutions play a crucial role in promoting financial health and inclusion for sustainable development.
• A new guidance by the Principles for Responsible Banking provides tools for setting impactful targets and strategies.

Financial institutions, as stewards of their customers’ financial well-being, are essential in promoting and fostering financial health and inclusion for sustainable development. A new guidance titled “Driving Impact on Financial Health and Inclusion: From Setting Targets to Implementation” developed by a Working Group of Principles for Responsible Banking (PRB) signatories and experts aims to provide common definitions, a pathway to impact, and standard indicators and methodologies for strategy development and implementation. This guidance offers practical tools for financial institutions to create impactful targets, robust strategies, and tailored action plans to meet the unique needs of individuals and businesses, ultimately contributing to poverty alleviation and the creation of healthier, more inclusive economies.

By actively implementing this guidance, financial institutions can significantly enhance the financial well-being of their customers and drive sustainable development on a global scale.