Set SMART targets that address the significant impacts your bank has identified, and work towards achieving them.
After conducting the impact analysis in step 1, signatory banks must set at least 2 targets to address the significant impact areas they have identified. The targets need to be Specific, Measurable (quantitative or qualitative), Achievable, Relevant and Time-bound (SMART). This helps signatory banks directly address the positive and negative impacts of their business activities, and ensures clear alignment between signatory banks’ sustainability strategies and the UN Sustainable Development Goals and the Paris Climate Agreement.
In addition to setting ambitious targets, signatory banks must also set milestones, as well as define and implement actions to meet their set targets. Read more about this in the 3 key steps. Signatory banks can find training, peer learning and tools to help with this step in the Members Area, join a working group or browse the guidance on best practice when setting targets. A FAQ document is also available to answer frequently asked questions on setting good targets for the Principles for Responsible Banking.
Working Groups
Joining our working groups is a great opportunity for signatory banks to lead at the cutting-edge of responsible banking through developing practical guidance and pioneering tools with other pioneering banks. Working groups cover four core themes:
- Climate change including mitigation and adaptation.
- Nature including biodiversity, deforestation, water and pollution.
- Healthy, inclusion economies including Financial Health & Inclusion and social impact areas.
- Human rights in line with the UN Guiding Principles on Business and Human Rights.
Learn how to get involved by contacting us or visiting the PRB Members’ Area below:
