First West Credit Union signs the United Nations Principles for Responsible Banking

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LANGLEY, BC, Sept. 01, 2022 (GLOBE NEWSWIRE) — Continuing its strong commitment to responsible environmental, social and governance practices, First West Credit Union and its divisions Envision Financial, Valley First, Island Savings and Enderby & District Financial became official signatories of the United Nations Principles for Responsible Banking (UN PRB) – a unique framework for a sustainable banking sector developed through a partnership between banks around the world and the United Nations Environment Program Finance Initiative (UNEP FI).

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The UN PRB consists of six principles that align with the vision society has set for its future through the UN Sustainable Development Goals and the Paris Climate Agreement. Financial institutions that have signed up to the Principles commit to being ambitious in their sustainability strategies, striving to embed sustainability at the heart of their business, while enabling them to remain at the forefront of sustainable finance.

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“When you consider our co-operative values ​​– the same values ​​that have always guided our decisions – joining the UN PBR was perfectly aligned with our mission to help our members and communities thrive,” said Launi Skinner, CEO of First West Credit Union. . “Now is the time to act and we are proud to join a global banking community that is focused on sustainable finance to ensure we use our business as a force for good, now and in the future.”

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Under the Principles, signatory banks measure the environmental and social impact resulting from their business activities, set and implement targets where they have the most significant impact, and regularly report publicly on their progress. The Principles provide a framework for financial institutions to understand the risks and seize the opportunities arising from the transition to more sustainable economies.

Signatories to the Principles take a leadership role, demonstrating how banking products, services and relationships can support and accelerate the changes needed to achieve shared prosperity for current and future generations, building a positive future for people and the planet. .

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First West is the third credit union in Canada to sign the United Nations ACB. This announcement follows the publication by First West of its second annual report ESG Rating by Morningstar Sustainalytics
earlier this month. For more information on the Principles for Responsible Banking: www.unepfi.org/responsiblebanking

About First West Credit Union

First West Credit Union offers its members the financial strength, comprehensive product selection and extensive branch network of a major financial institution while maintaining local brand identities and a unique service approach. Led by Launi Skinner, First West is BC’s third largest credit union with nearly $16.9 billion in total assets and assets under administration, more than 250,000 members and approximately 1,250 employees . It operates 46 branches across the province under the Envision Financial, Valley First, Island Savings and Enderby & District Financial brands. Visit www.firstwestcu.ca for more information on First West Credit Union.

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