Newcastle Building Society hosts UK-first UN event on financial inclusion and resilience

“The conversations in Newcastle demonstrated the commitment of the financial sector in the UK and Ireland towards building a resilient future,” said the head of the United Nations Environment Programme Finance Initiative

Senior representatives from a United Nations initiative visited Newcastle Building Society’s Tyneside headquarters as part of a UK-first event this week.

Those from the United Nations Environment Programme Finance Initiative (UNEP FI) joined leaders from banking, housing, energy, academia, local government and community organisations from across the UK and Ireland at the mutual’s Cobalt Business Park base. The summit saw them discuss the opportunities and challenges facing communities as they navigate economic, environmental and social change.

The event focused on how finance can support people, places and local economies through improved financial inclusion, education, local economic development, energy transition and community resilience. Speakers and delegates discussed how organisations can work together to support an inclusive transition in the real economy – touching on how financial institutions can respond to community needs through access to finance, innovation and adaptation.

There was also focus on financial health and inclusion, with examples of how investment in local economies can strengthen financial wellbeing and improve opportunities for individuals, businesses and communities. A session on warmer homes also drew on perspectives from policy, technology and research to cover practical approaches to improving energy efficiency, and reducing barriers faced by households as part of the energy transition.

Eric Usher, head of UNEP FI, said: “UNEP FI understands that sustainability challenges across the finance industry are shaped by local realities, and we are committed to supporting our member banks and the broader finance community to address these nuances. Our Communities of Practice across Europe bring together financial institutions facing similar challenges in their specific national or jurisdictional contexts to exchange expertise, discuss ideas and practical solutions that address a broad spectrum of sustainability topics.

“The conversations in Newcastle demonstrated the commitment of the financial sector in the UK and Ireland towards building a resilient future. The level of engagement throughout the day shows why face to face dialogue is essential, and what can be achieved through peer exchange to move the needle on addressing sustainability risks, accelerating the transition and ensuring local communities are included in that transformation. UNEP FI will continue working with the finance sector to help turn ambition into action.”

Andrew Haigh, chief executive of Newcastle Building Society, said: “Bringing together a diverse group of organisations created a valuable opportunity to share ideas, challenge thinking and learn from practical examples already making a difference in our communities. A consistent theme throughout the day was the need for collaboration.

“Whether discussing financial inclusion, local economic development, energy efficiency or community resilience, it was clear that many of today’s challenges require organisations to work together across sectors. As a purpose-led mutual organisation, Newcastle Building Society remains committed to connecting communities with a better financial future and we are therefore delighted to be signatories to the United Nations Principles for Responsible Banking and to support the UNEP FI.”