Cision PR Newswire

UNITED NATIONS FEDERAL CREDIT UNION HOSTS 7TH UNITED IN SUSTAINABILITY SUMMIT FOR THE CREDIT UNION INDUSTRY

News provided by

Nov 12, 2024, 9:42 AM ET

REAFFIRMS FINANCIAL COOPERATIVES' ACTION ON CLIMATE AND SOCIO-ECONOMIC IMPACT

NEW YORK, Nov. 12, 2024 /PRNewswire/ -- The United Nations Federal Credit Union (UNFCU) recently convened credit unions and their associations at the United Nations headquarters in New York on actionable strategies and best practices for advancing sustainability. From financing the Clean Energy Transition to ensuring financial inclusion in marginalized neighborhoods, the 7^th United in Sustainability (UIS) Summit underscored financial cooperatives' progress on positive community impact and commitment to the UN Sustainable Development Goals (SDGs).

"Given the agency, spatial and temporal nature of sustainability challenges, credit unions can play a key role in influencing sustainable consumption and production patterns and supporting the achievement of the SDGs," said Dr. Ligia Noronha, UN Assistant Secretary-General and Head of the UN Environment Programme (UNEP) New York Office, which hosted the expanded two-day, hybrid event.

Having founded the UIS Network in 2018, UNFCU has kept the sustainability topic at the forefront of industry conversations to start or advance credit unions' journeys. Conversations at the UIS Summit spanned case studies and peer learning on how to measure portfolio emissions and set targets, social innovation solutions tackling climate change, workforce inclusivity, supplier diversity, and green financing.

"Our goal at the UIS Summit and throughout the year is to connect credit unions large and small and their leagues with timely resources and fresh insight on sustainability," said Pamela Agnone, Executive Vice President of UNFCU and Co-Executive Sponsor of its Global Sustainability Program. "More credit unions want to be prepared to mitigate climate risk, reduce emissions, and guide their members on financing initiatives. We are proud to provide a platform for ideas and action on the SDGs."

This year, more than 100 credit unions and associations have joined the UIS Network, doubling the number of participants since the last UIS Summit.

"By working together to help address the big challenges members and communities face – climate change, social inequality, affordability, financial inclusion, among others, credit unions live up to their values and commitment to members," said Andrea Harris, Vice President of Impact Strategy at Vancity. "This year's United in Sustainability Summit showed that, for credit unions, meeting these challenges and making a positive difference for members is not only the right thing to do, but an important opportunity for differentiation and growth."

At the UIS Summit, more than 40 experts offered perspectives, data, and research. Dr. Jeffrey Robinson, Provost and Executive Vice Chancellor at Rutgers University—Newark, and Lead Fellow at the Center of Excellence for Innovation & Incubation at Filene Research Institute, detailed the recently launched Racial Economic Equity Incubator. Dr. Lisa Dale, Director of the M.A. in Climate and Society Program at the Columbia Climate School, Columbia University in New York, addressed the "State of the Planet: climate adaptation with new research on digital payments." The Global Reporting Initiative, Partnership for Carbon Accounting Financials, and UNEP FI focused on best practices in transparent reporting.

Inclusiv President/CEO Cathie Mahon provided an update on the Inflation Reduction Act and Greenhouse Gas Reduction Fund, financing a resilient future. The Canadian Credit Union Association outlined its 2024 Materiality Benchmarketing Report on Environmental, Social, and Governance.

"For our global challenges, we require global solidarity and the UIS Summit curated intentional content and connection," said Hazelmae Overturf, Chief Impact Officer, Kaua'i Federal Credit Union, Hawaii.

"Given the increased intensity of the climate crisis and its socio-economic ripple effect, this is a defining moment for our industry to lead in sustainability," said Yma Gordon, First Vice President of Global Impact and Inclusion at UNFCU and Executive Director of the UNFCU Foundation. "The UIS Summit emphasized opportunities for credit unions to align with their values. We want to continue to grow the sustainability movement and learn from each other, as catalysts for positive change."

Credit unions attending the UIS Summit also linked their resolve to the 2025 UN International Year of Cooperatives.

"As people-centered businesses, cooperatives are one of the best solutions to advance the Sustainable Development Goals," said Douglas O'Brien, CEO of the National Cooperative Business Association, who spoke at the UIS Summit. "The International Year of Cooperatives is the right time for the cooperative community and national governments to accelerate work to increase public awareness and move sustainability forward."

For more information, visit uisnetwork.org.

About United Nations Federal Credit Union (UNFCU)

United Nations Federal Credit Union (UNFCU) provides global banking for global citizens. Since 1947, we have been the leading financial cooperative for the UN community, serving more than 240,000 members across 200 nations. Our secure financial solutions make saving, spending, borrowing, and transferring money easier for the people who serve the world. As a climate neutral institution, we deliver a sustainable, inclusive banking approach that contributes to the prosperity of people and the planet. From making reliable everyday purchases to accessing finances overseas — this is how global citizens bank.