Forest 500

The Banking Environment Initiative was created in 2010 with the mission of leading the banking industry in directing capital towards both environmentally and socially sustainable economic development. The initiative’s 12 members include some of the world’s largest banks from Asia, Europe and North and South America: Barclays, BNY Mellon, China Construction Bank, Deutsche Bank, Goldman Sachs, Lloyds Banking Group, Nomura, Northern Trust, Santander, Standard Chartered, Sumitomo Mitsui and Westpac. The initiative works with corporates across several key sustainability topics.

Of particular importance is BEI’s work with the Consumer Goods Forum (CGF). In April 2014, the BEI and CGF signed the Soft Commodities Compact, to mobilise the banking industry to transform commodity supply chains and achieve zero net deforestation by 2020; a goal of the CGF and its 400 corporate members. Specifically, the Soft Commodities Compact commits the BEI members to finance the transformation of supply chains, and to raise industry-wide banking standards.