APPROACH AND METHODOLOGY
The GABV will realize this commitment through a five-prong strategy. The GABV will: 1) grow its membership from 10 to between 50 and 100 banks, 2) raise at least $500 million in new equity capital for sustainable banking, 3) develop knowledge resources to strengthen member banks' capabilities and commitment to sustainable finance, 4) measure and report the impact of its member banks efforts, and 5) actively engage in public dialogues on banking issues.
In 2009, the GABV committed to raising $250 million in new equity capital for supporting sustainable banking. To date, $200 million has been raised. This new commitment will raise an additional $500 million.
IMPLEMENTATION, TIMELINE, AND DELIVERABLES
The implementation is expected to continue through 2020 but by 2015 it is expected that 1) membership will have grown to at least 50 financial institutions whose business model is focused on sustainable banking, 2) $500 million in new equity capital will have been raised for investment in sustainable banking, 3) a knowledge sharing network will be operational and courses for certifying sustainable banking practitioners will have been established, 4) metrics for measuring impact will have been agreed and results on these metrics for GABV members will be showing year-on-year improvements, and 5) the GABV will be a proactive participant providing a sustainable banking perspective in public dialogues on banking issues.
The financial service sector, characterized by a general focus on short-term reported financial profitability, has gone through a multi-dimensional crisis over the recent past. This has lead to a lack of confidence, inadequate profitability, and over complexity. Together these issues have damaged the overall economic climate and meant inadequate financial support to meet the needs of the real economy and the development of human and community potential. The Global Alliance for Banking on Values focuses on the creation of a different, more sustainable approach for the financial sector.