BEA Joins UN Principles for Responsible Banking

Reuters
Jan 29
BEA Joins UN Principles for Responsible Banking

The Bank of East Asia Limited (BEA) has become the first bank headquartered in Hong Kong to join the United Nations Principles for Responsible Banking $(PRB)$, a global framework supported by over 360 banks for aligning banking strategies with the UN Sustainable Development Goals and the Paris Agreement. As a PRB signatory, BEA has committed to identifying and measuring the environmental and social impacts of its business activities, setting related targets, and reporting publicly on its progress. Additionally, BEA is the first Hong Kong-based bank to join the Partnership for Carbon Accounting Financials (PCAF), focusing on the measurement of financed emissions. The bank has participated in initiatives such as co-organising a workshop with PCAF and the Hong Kong Green Finance Association to promote understanding of financed emissions measurement among local banks. BEA aims to achieve net zero financed emissions by 2050.

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