Principality Building Society Joins UN-Led Net-Zero and Responsible Banking Initiatives

Principality Building Society has officially joined the UN Principles for Responsible Banking (PRB) and the UN-convened Net-Zero Banking Alliance (NZBA).

These initiatives bring together financial institutions worldwide to support a transition towards sustainable banking, aligning strategies with the United Nations’ Sustainable Development Goals (SDGs) and the Paris Climate Agreement.

Commitments Under the PRB and NZBA

As part of these commitments, Principality Building Society has pledged to:

• Integrate sustainability into strategic decision-making and operations
• Align lending and investment activities with net-zero emissions by 2050
• Set interim sustainability targets for 2030 or sooner
• Measure and report on the environmental and social impact of its activities

Principality’s Statement on the Commitment

Julie-Ann Haines, Chief Executive Officer of Principality Building Society, commented:

“Being part of the UN Principles for Responsible Banking and the Net-Zero Banking Alliance is a natural evolution of our commitment to doing business ethically and responsibly. At Principality, we believe in the power of small but meaningful actions that ripple out to create significant change.

As Wales’ largest building society and the UK’s sixth largest, we’re proud to be playing our part in addressing climate change, inequality, and social challenges. By collaborating with a global community of responsible banks, we’re working to ensure a fairer, more inclusive society and a more sustainable and secure future for our customers, colleagues, and communities.”

About the Initiatives

The Principles for Responsible Banking (PRB) provide a framework for sustainable finance, requiring signatories to:

• Align strategies with the SDGs and the Paris Climate Agreement
• Measure and report environmental and social impact
• Set and implement targets where they can create the most meaningful change

The Net-Zero Banking Alliance (NZBA) brings together 135 banks across 44 countries, offering science-based guidance and practical tools to support a net-zero economy.

For more information, visit UN Principles for Responsible Banking and Net-Zero Banking Alliance.