Banking Environment Initiative welcomes HSBC
8 June 2017 – The Banking Environment Initiative (BEI) welcomes its newest member, HSBC, to its membership of 12 global banks working to lead the banking industry in directing capital towards socially and environmentally sustainable economic development.
Banking Environment Initiative launches discussion paper incentivising the trade of sustainably produced commodities
28 April 2016 – The paper was launched at a roundtable co-hosted by Cambridge Institute for Sustainability Leadership and the Global Trade Review.
Ten international banks commit to finance sustainable agricultural commodities by 2020
3 July 2015 – Standard Chartered Bank today become the tenth bank to formally adopt the Soft Commodities Compact, which aligns the banking industry with The Consumer Goods Forum’s resolution to help achieve zero net deforestation in their supply chains by 2020.
Professor Alexander presents key findings on the report 'Stability and Sustainability in Banking Reform'
June 2015 – Professor Kern Alexander, lead author of ‘Stability and Sustainability in Banking Reform: Are Environmental Risks Missing from Basel III?’ gave a 10-minute overview of the main conclusions of his report at the Cambridge Expert Dialogue in April 2015.
Banking Environment Initiative Sustainable Shipment Letter of Credit shortlisted for Financial Times Award
28 April 2015 – Trade finance product shortlisted in the finance category of the FT’s Transformational Business Awards.
Business case for sustainable timber: WWF highlights bank-corporate 'Soft Commodities' Compact
24 April 2015 – WWF’s Chief Economics Adviser in the UK highlights 'Soft Commodities' Compact between Banking Environment Initiative (BEI) and Consumer Goods Forum (CGF) as an example of global business leadership.
Financial Times references the BEI’s work on the sustainable commodity trade
20 April 2015 – FT article 'Sustainability in commodities accrues momentum' talks about the work of the Banking Environment Initiative.
Rabobank join Compact group
5 January 2015 – Rabobank has become the ninth bank to formally adopt the ‘Soft Commodities’ Compact between the Banking Environment Initiative (BEI) and the Consumer Goods Forum (CGF).
‘Soft Commodities’ Compact Implementation Group: Update for Stakeholders
30 October 2014 - The BEI has created a Compact Implementation Group, the purpose of which is to support an industry-level approach to implementation of the section of the ‘Soft Commodities’ Compact with the Consumer Goods Forum that relates to ‘Raising Industry-wide Banking Standards’. The group is convened and co-ordinated by CISL.
Goldman Sachs become the Banking Environment Initiative’s 12th Member
27 October 2014 – The BEI has recently welcomed its newest member, Goldman Sachs, to its group of 12 global banks leading on directing capital towards sustainable economic development.
Standard Chartered become the Banking Environment Initiative’s 11th Member
08 October 2014 – The BEI has recently welcomed its newest member, Standard Chartered, to its group of 11 global banks leading on directing capital towards sustainable economic development.
The BEI participates in the UN Climate Summit
23 September 2014 – September saw world leaders, business and civil society convene for the UN Climate Summit in New York.
BEI-CUFE Seminar in China: Greening Banking Services, Beijing
17 September 2014 – This half-day seminar, co-hosted with Beijing’s Central University of Finance and Economics (CUFE), brought together representatives from regional and international banks and the People’s Bank of China (PBOC), as well as Chinese banking regulator, the CRBC, and leading food manufacturer and trader, COFCO.
BEI-BNI Seminar in Indonesia: Greening Banking Services, Jakarta
15 September 2014 – The purpose of this half-day seminar, hosted in partnership with Bank Negara Indonesia, was to explore whether there is value inherent in the BEI and Indonesian banking industry collaborating to ‘green’ banking services.
BEI plenary session at the GTR Asia Trade Finance Week, Singapore
09 September 2014 – During the most highly rated session of the week, the BEI presented its work on sustainable trade finance work at the largest trade finance conference in the world.
The 'Soft Commodities' Compact between the CGF and BEI continues to build momentum
8 July 2014 – The current group of eight adopting banks comprises BEI members Barclays, Deutsche Bank, Lloyds Banking Group, Santander and Westpac as well as BNP Paribas, RBS and UBS, who are not BEI members.
The BEI Forum 2014, Hong Kong
24 June 2014 – Over 100 representatives of banks, consumer goods companies, agricultural producers and NGOs attended the BEI Forum 2014 in Hong Kong. The event was opened by Antony Jenkins, CEO of Barclays. He was followed by more than 20 speakers in keynotes and panels.
A financing solution to incentivise sustainable commodity trade
29 April 2014 – Following the launch of the BEI’s Sustainable Shipment Letter of Credit (LC) at the World Economic Forum in Davos in January 2014, the BEI has partnered with the International Finance Corporation (IFC) to enable preferential treatment for trade in agricultural goods that meet internationally-recognised sustainability standards.
The BEI-CGF Soft Commodities Compact is released
2 April 2014 – The ‘Soft Commodities’ Compact, a unique, client-led initiative that aims to mobilise the banking industry as a whole to contribute to transforming soft commodity supply chains – and therefore help clients achieve zero net deforestation by 2020 – is now available.
University of Cambridge research investigates bank regulation
24 January 2014 – A new research project as been established to investigate whether financial sector regulation in its current form could actually be increasing financial sector risk by failing to take adequate account of both positive and negative environmental externalities that affect financial stability.
The White House: BEI joins consumer goods giants to brief Obama Administration on incentivising sustainable agricultural commodity production
4 December 2013 – Represented by Jeremy Wilson, Vice Chairman of Corporate Banking at Barclays and Chair of the BEI’s Working Group, the BEI joined Chief Executives of Consumer Goods Forum companies Unilever, Nestlé, Coca-Cola, Royal Ahold & Co, SC Johnson, Walmart and Cargill to brief the Obama Administration on how BEI banks and CGF companies are working together to drive deforestation out of supply chains.
Presenting a model for incentivising the trade of sustainably produced commodities
September 2013 – The organisers of GTR’s Asia Trade Finance Week – the largest trade finance conference for companies, trading houses, banks and insurers in Asia – asked the Cambridge Institute for Sustainability Leadership (CISL) and the banks of the Banking Environment Initiative to present the concept we have been developing for a ‘Sustainable Shipment’ model that would offer financial incentives for the trade of sustainably produced commodities, including agricultural commodities like palm oil, soy, timber products and beef.
BEI explores ‘Fossil Fuel Diversification Premium’ to advance clean energy investment in New York
22 April 2013 – At a private dinner at The Harvard Club in New York City, the BEI and Bloomberg New Energy Finance convened executives from major US, European and Chinese electric utilities with senior energy bankers to advance its collaboration on clean energy investment.
BEI ‘Sustainable Shipment Letter of Credit’ concept warmly received by BAFT-IFSA and ICC Banking Commission
April 2013 – The BEI’s inaugural Forum in London in November 2012 inspired an idea for integrating commodity-specific sustainability standards into the documentary trade finance process. This could prove to be a key enabler in the emergence of verifiably sustainable commodities on traded markets.
BEI Forum 2012
November 2012 – The first results of the BEI's innovative bank–corporate partnerships for sustainability were shared at the inaugural BEI Forum in London. More than 120 people attended, including the senior leadership of BEI banks and representatives of other banks from as far afield as China and the US.
Royal Bank of Scotland becomes the Banking Environment Initiative’s 11th Member
1 June 2015 – In April, the Banking Environment Initiative (BEI) welcomed its newest member, Royal Bank of Scotland, to its membership of 11 global banks working to lead the banking industry in directing capital towards socially and environmentally sustainable economic development.
Financial Stability and Environmental Sustainability: Briefing for policymakers
15 September 2015 – Ahead of a series of meetings of central banks and financial regulators in September, CISL and partners have issued a briefing for policymakers to summarise the current thinking on the links between financial stability and environmental (and social) risks.
The Banking Environment Initiative (BEI) welcomes its newest member
9 October 2015 – The Banking Environment Initiative (BEI) welcomes its newest member, BNP Paribas, to the group of global banks working to collectively direct capital towards socially and environmentally sustainable economic development.
Greening the finance of China’s commodity imports
5 November 2015 – This week, the Cambridge Institute for Sustainability Leadership (CISL), the Banking Environment Initiative (BEI) and the Central University of Finance and Economics (CUFE) in Beijing will be holding the first in a series of workshops focusing on ‘Greening the finance of China’s commodity imports’.
J.P. Morgan and Societe Generale join 10 other banks in adopting the 'Soft Commodities' Compact
26 November 2015 – J.P. Morgan, one of the ten largest banks in the world, has adopted the ‘Soft Commodities’ Compact, becoming the first US bank to join an initiative that mobilises the banking industry to combat deforestation. Last week, French bank Societe Generale also adopted the Compact.
Cambridge Institute for Sustainability Leadership (CISL) takes Banking Environment Initiative work on sustainable commodity trade to Indonesia and China
21 March 2016 – At the invitation of banking regulators in Jakarta and Beijing, the CISL team and Banking Environment Initiative (BEI) banks recently convened in Indonesia and China to work with local partners to increase the sustainability of the palm oil trade.
Banking Environment Initiative co-convenes roundtable on Green Bonds with investors and issuers
22 October 2015 – The banks of the Banking Environment Initiative (BEI), together with the Climate Bonds Initiative (CBI) and Clarmondial, convened a roundtable to discuss the Climate Bonds Standard for Investments in Agriculture, Forestry and Other Land Use (AFOLU). The event was hosted in London by Northern Trust Asset Management.
BEI initiates work on green bonds
16 June 2015 – As part of expanding its programme of work, the BEI is exploring the value it can add in enabling the stable growth of the green bonds market, itself a powerful contribution to the BEI’s mission to direct capital towards socially and environmentally sustainable economic development.
The Banking Environment Initiative forms ‘Sustainable Trade Finance’ Council
9 June 2015 – Building on the pilot Sustainable Shipment Letter of Credit for palm oil, the BEI has now formed a ‘Sustainable Trade Finance’ Council.
Banking Environment Initiative leads discussion on sustainable trade finance with banking industry in Jakarta, Indonesia
22 July 2016 – The Banking Environment Initiative (BEI), the banking leadership group that CISL convenes, was invited by the global banking industry’s transaction banking association, BAFT, to lead discussions on sustainable trade finance at its Indonesia Trade Finance Workshop in Jakarta today.
Dr Paul Fisher appointed as Vice Chair of the Banking Environment Initiative
13 February 2017 – Dr Fisher is the Bank of England’s former Executive Director for Supervisory Risk and Regulatory Operations as well as the former Deputy Head of the Prudential Regulation Authority (PRA).
Statement of support for the work of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures
15 February 2017 – Statement issued by the members of the Banking Environment Initiative.
UK Treasury Minister welcomes BEI’s Fintech Taskforce
17 February 2017 – The Minister’s response came after the announcement of the Taskforce by the Banking Environment Initiative (BEI) following an event hosted by CISL’s Patron, His Royal Highness The Prince of Wales.
10 recommendations for using fintech to help solve sustainability challenges in new report from CISL
November 2017 –The Fintech Taskforce, convened by CISL’s Banking Environment Initiative, today presents its recommendations on how to design collaboration between multinationals, financial institutions and starts-ups to help solve critical global challenges.
Blue chips and startups launch new fintech pilot for more sustainable supply chains at the One Planet Summit
12 December 2017 – Six international companies and banks and four fintech startups today announced a pioneering new initiative that will test whether blockchain and other technologies can help unlock financial incentives that reward sustainability in supply chains.
New green trade finance platform will support China’s Belt & Road trade initiative
December 2017 – A landmark agreement amongst Chinese stakeholders to form a pre-competitive, industry level platform for green trade finance in China was made at a high level summit convened by the University of Cambridge Institute for Sustainability Leadership and the Banking Environment Initiative (BEI). China has the largest trading volumes in the world, as well as being a major importer of commodities produced around the world. Commitments to green trade finance made at this summit have the potential to trigger change of global significance.
Bank 2030 Project: Research participation opportunity
25 April 2019 – Would you like to participate in a research project on the role of banks in financing the low carbon economy? Researchers at the University of Cambridge Institute for Sustainability Leadership (CISL) are looking for participants for this new study.
Banking sector ‘active mindset’ key to accelerating response to climate crisis
30 January 2020 – A new report from the Banking Environment Initiative (BEI) highlights the need for the banking sector to develop an ‘active mindset’ in order to accelerate the transition to a net zero carbon economy. Pioneering banks have started to adopt this mindset, approaching the decarbonisation of the economy as a strategic opportunity.