Isidro Fainé emphasizes the “feeling and acting in a socially responsible way is linked” to the identity of these entities, during the meeting of the WSBI, the main savings and retail banks
The World Institute of Savings Banks and Retail Banks (WSBI), an organization that has CECA among its key members, concluded its World Congress (26th edition) in Paris with a focus on progress in sustainable finance within the framework of the current complex situation.
Over the two days of the meeting, members approved the Paris Declaration 2022, a backbone document that advocates promoting sustainable finance to ensure the economic resilience of the communities in which they operate. That statement invites regulators to coordinate and harmonize different taxonomies by offering design principles that promote interoperability and mutual recognition. Such a measure can help promote sustainable cross-border financing and reduce compliance costs. Given the need for a common language, which facilitates comparability and avoids duplication, the Common Ground Taxonomy (CBT) between the EU and China is a promising first step in the right direction.
Isidro Fainé, President of WSBI, of the ‘la Caixa’ Banking Foundation and of CECA, opened the meeting saying that “feeling and acting socially responsible is inextricably linked to our identity. The fact is that we were born this way, it is part of our DNA and it is our calling. All this translates into our way of banking, which is fundamentally different from that of other players in the sector, as well as profitable, efficient and fair”, while addressing the more than 200 participants from all continents who met in person in Paris for the first since 2018.
Founded in 1924, the WSBI represents more than 6,000 savings and retail banks around the world with total assets of $15.6 trillion and serves nearly 2,000 million customers, primarily providing financial services to SMEs and families.
The Paris World Congress was held in the French capital on July 7-8 under the title Rooted in Community. Globally Responsible,” underscoring the WSBI 3Rs model – retail, responsible and rooted – as a necessary strategy to build a more inclusive and sustainable society.
Leading experts from the financial world and from different jurisdictions discussed the key issues on the current economic and financial agenda: harmonization of sustainable finance regulations; digitization and its impact on financial inclusion; and the broad scope of social responsibility in the recovery environments and geopolitical change that currently coexist at the global level.
Ecologist and mountaineer Reinhold Messner, who advocates for a more sustainable development model and whose foundation helps mountain villages around the world deal with the effects of global warming and the negative impact of excessive tourism, delivered a keynote speech on sustainable banking times of climate change.
Among the prominent representatives of international regulation were Mairead McGuinness, Commissioner for Financial Stability, Financial Services and Capital Markets Union of the European Commission, and José Manuel Campa, President of the European Banking Authority. For its part, the Secretary of State for Digitization and AI of the Government of Spain, Carme Artigas, has appeared via video. The Director of Financial Studies of FUNCAS, Santiago Carbó, the Director of Public Affairs of CaixaBank, Christian Castro, the General Manager of CECA, José María Méndez, and Shlomo Ben-Ami, Vice President of the Toledo International Center for Peace and former Israeli Ambassador to Spain also attended this triennial meeting.
Parallel to the World Congress was the presentation of the Scale2Save (S2S) program, which will end on 31 August after six years of activity. Developed by WSBI in partnership with the Mastercard Foundation, this program aims to promote financial inclusion through the establishment of basic savings accounts in developing countries and financial education projects. financial services.
With over one million registered customers as of March 31 and a monthly activity rate of 20% over the past twelve months, S2S surpassed its numerical commitment to reach one million customers. Thanks to a total budget of more than 16 million dollars, S2S was able to carry out successful projects in, among others, Ivory Coast, Morocco, Nigeria, Kenya, Senegal, Tanzania and Uganda.
CECA is an active member of the international associations -World Savings and Retail Banking Institute (WSBI) and European Savings Banks Group (ESBG)- which represent the retail banking model that prioritizes financing for families and SMEs, a model that CECA members feel fully identified.
The link between CECA and the WSBI fulfills the task of representing and defending the interests of its affiliated entities, for which it is present in national and international forums. The WSBI helps savings and retail banks around the world thrive. It focuses on international regulatory issues affecting the financial sector and provides a platform for the exchange of knowledge between member entities.
The President of CECA and of the “la Caixa” Banking Foundation, Isidro Fainé, renewed his three-year mandate as President of the World Institute at the General Assembly held in Paris last November. The priority lines of action identified for the coming years will include financial inclusion, the promotion of sustainable finance and the exchange of best practices in the implementation of the new solvency framework and innovation, looking in digitization for a tool to improve proximity to improve the customer. Now the Paris Declaration 2022 reinforces this path taken by the international organization a year earlier.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
