Yin Gefei invited to GABV strategy consultation

On 6 July, 2023, Global Alliance for Banking on Values (GABV) hosted the consultation with their strategic stakeholders to discuss "trends in the financial sector" and "the role of values-based banks in future trends" to inform their development strategies for the next five years.

Yin Gefei, Chief Expert of GoldenBee ThinkTank and Founder of GoldenBee Consulting, was invited to this meeting.

Founded in 2009, GABV is an international network of cutting-edge organizations and leaders in the banking sector with a shared vision of achieving "finance at the service of people and the planet".

Today, it is a growing membership organization with presence in 45+ countries across Africa, Latin America, Asia Pacific, North America and Europe that serves 60 million customers and holds over USD 200 billion of combined assets under management.

GABV's goal is to change the banking system so that it is more transparent, supports economic, social and environmental sustainability, and is composed of a diverse range of banking institutions serving the real economy.

Mr. Yin suggested during the meeting that globalization had entered a new phase of sustainable globalization and that sustainable finance would play an important role in that mega-trend.

In order to better help the banking sector respond to these trends, values-based banks should take on the roles of "sustainable finance leaders", "innovation models of sustainable finance" and "conveners of sustainable finance ecosystems".

Values-based banks should take the lead in sustainable transformation and promote the application of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards (ISDS) guidelines to improve transparency in the banking sector. At the same time, they should enhance their own ESG financial competitiveness to provide references for other banks and financial institutions, and call for more diversified partners with a common philosophy to promote communication and cooperation in the field of sustainable finance, forming a sustainable finance ecosystem with values-based banks at its core.