Allied Irish Bank : AIB becomes Founding Signatory of the UNEP FI Principles for Responsible Banking

AIB becomes a Founding Signatory of the UNEP FI Principles for Responsible Banking

9th September 2019

• AIB is the only Irish bank to become a Founding Signatory of the UNEP FI Principles for Responsible Banking.
• Signatory status follows commitment of five billion euro of funding (one billion per annum) to support Ireland's transition to a lower carbon economy.
• AIB is sponsor of Climate Finance Week Ireland 2019.

AIB is the only Irish Bank to become a Founding Signatory of the UNEP FI (United Nations Environment Programme - Finance Initiative) Principles for Responsible Banking - a single framework for a sustainable banking industry developed through an innovative partnership between banks worldwide and the United Nations Environment Programme Finance Initiative.

The Principles for Responsible Banking acknowledge the banking industry's role and responsibility in shaping a sustainable future and set the scene for aligning the banking sector with the objectives of the UN Sustainable Development Goals and the 2015 Paris Climate Agreement.

The Principles for Responsible Banking will be officially launched on 22nd September during the United Nations General Assembly in the presence of United Nations Secretary-General and more than 30 bank CEOs. This will be followed by a public launch event on 23rd September in New York City hosted by the 30 Founding Banks that developed the Principles.

Colin Hunt, AIB Chief Executive Officer says "AIB is delighted to be a Founding Signatory of the UNEP FI Principles for Responsible Banking. We welcome the opportunity to work collectively with other banks to make a significant impact on sustainable development for everyone. We are backing our customers in addressing the transition to a low-carbon economy and look forward to further aligning our activities to the UN Sustainable Development Goals and the Paris Agreement. This announcement demonstrates our commitment to leading the sustainability agenda in Ireland."

Today's announcement from AIB in the area of sustainability complements the ongoing work done by the bank:

• In June 2019 AIB announced €5 billion will be made available for climate related and green products over the next five years.
• In 2017, AIB established the Energy, Climate Action and Infrastructure team in recognition that a centre of excellence was required in an essential growth sector. This team is now one of the largest in the market and is supporting AIB's goal of playing a leadership role in assisting Ireland deliver its sustainability and de-carbonisation goals.
• In 2018 AIB was the leading Irish lender in the renewables field. The bank is one of only two Irish organisations to achieve a CDP Climate Change A rating in 2018, and reduced its carbon

footprint in buildings. In 2018 AIB signed up to the Low Carbon Pledge which will reduce our Scope 1 and 2 greenhouse gas emissions intensity by 50% by 2030.

• AIB has also announced its sponsorship of Climate Finance Week Ireland 2019 in a further effort to support Ireland's programme to address climate change. This is in addition to the work AIB is already doing through investment in clean energy and in ensuring all AIB office buildings have a more sustainable footprint.
• In May 2019 AIB published its third Sustainability Report which outlines the progress the bank is making in response to the key social, environmental and economic issues which have been identified by stakeholders as areas which the bank should help address. Through the report, AIB aimed to provide greater transparency and rebuild trust among its stakeholders in order to create long-term value as a sustainable business in the economy and the community.
• AIB is funding climate-related research to be carried out by the ESRI.

Media Contacts:

[e-mail]01 641 2869 / 087 739 0746 [e-mail]01 6414230 / 087 715 7547

More information about the Principles for Responsible Banking available here: www.unepfi.org/responsiblebanking.