The Power of Collaboration: Partnering for a Sustainable Future

The principles of sustainability are taking centre stage in the decision-making processes of financial institutions across the region and around the globe. As a result, many of these institutions have become acutely focused on setting specific standards, guidelines, and incentives based around sound sustainable finance practices.

In 2020, when the Republic Group become an official signatory to the UNEPFI’s Principles for Responsible Banking (PRB), a widescale initiative was launched to embed sustainability across all business areas, revolutionise investment strategies, and become an even greater force for positive change. Then, as a co-signatory to the Net Zero Banking Alliance, we further stamped our commitment, pledging to lend, invest, and arrange US$200 million in climate financing and clean energy investments by 2025.

To date, the Group has achieved US$150 million of that target, with loans and investment in renewable energy projects, electric vehicles, and sustainable agriculture projects leading the way in our operations in the Caribbean, Suriname, and Ghana.

Along the path of sustainable finance in the 21st Century, the Group continues to broaden perspectives, attune investments to present realities, and add value to the relationships with the communities we serve.

Partnerships that work; Communities that last
As financial institutions mainstream sustainable finance practices as an investment priority, they refocus and realign their strategies toward societal and environmental impact, not solely profit.

This is based on the understanding that financial institutions and the communities we serve are inextricably intertwined – as one develops or languishes, so too does the other.

For decades, the Republic Group has championed corporate social investment using our Power to Make A Difference programme, as a means of supporting communities, empowering minds, and sowing the seeds for future gains. We brought further structure to our social outreach as a PRB signatory by continuously working towards alignment with the UN Sustainable Development Goals (SDGs), particularly Goal 17 – Partnership for the Goals, which remains our overarching objective as it means that all SDGs are equally important and interconnected, and require meaningful partnership and collaboration to be achieved.

With this understanding comes the firm belief that success in sustainable finance ultimately depends on the sustainability of the community and the environment that it is a part of.

Based on this conviction, comes our commitment to four fundamental sustainable finance principles.
1. We seek to mitigate negative environmental and social effects by assessing the risk involved in our partners’ portfolios
2. We help clients improve their Environmental and social performance through financing and advice that actively galvanises clients to improve their positive contributions
3. We promote sustainability among our stakeholders
4. We do not finance activities that do not meet established Environmental and Social standards

What those four principles have in common is that they are based on the fact that the very same demands and expectations that we have of ourselves as a socially responsible citizen, we hold for our partners. This ensures that we have shared values and agreed on what we set out to achieve. All that remains is to take the steps needed to get things done.

Transforming Talk into Action – Republic Bank Sustainability Expo 2024
In the Caribbean, there are many sustainability practitioners in all industry sectors in need of assistance in showcasing their projects and businesses so that they can access and secure partnerships; build capacity in accessing financing; and reap the benefit of strength in numbers stronger lobbying initiatives.

It is critical that a space exists to effectively engage these practitioners so that they are not only able to work with each other, but are also encouraged to share what they do in an open and public forum to help bring about real change.

The Republic Bank Sustainability Expo (September 13-14) will bring over 100 businesses together, in a diverse showcase of sustainability-related products and services created to highlight the many sustainability practices in Trinidad and Tobago and the region in a variety of sectors including: Energy, Agriculture, Manufacturing, Automotive, Tourism, Healthcare, Construction, and the Creative Services, the Republic Bank Sustainability Expo is focused on transforming talk into action.

As we directly engage innovators, businesses and services, industry leaders, and thought influencers, the Republic Group will be building the foundation for mutually beneficial partnerships between financial institutions and sustainability business practitioners.

At the Expo, we will be giving visitors the opportunity to engage with, and learn, from our range of exhibitors, including our platinum sponsor, VISA, larger organisations such as the University of the West Indies and Deloitte alongside an SME village of over 60 local entrepreneurs. The event will also have a Food Hub, and Conversation Café where experts will share their insight on topics such as:
• The intersection of technology and sustainability
• Circular economy
• Sustainable Agriculture
• Sustainable Finance
• Developing sustainable business models
• Renewable energy experts
• DIY opportunities

The primary objective, as we enrich the sustainability business environment, is to empower our societies with new products and services, encourage more awareness of environmental and societal concerns, and create robust partnerships that are the key to the future of sustainable finance in the region.

The Power of Collaboration
In many ways, the Expo is a direct call to action to the wider community to partner with the Group in turning dialogue into action, and action into results. As the landscape of sustainable finance continues to evolve, success will come in cultivating and nurturing partnerships that work and can stand the test of time.

In bringing diverse, but allied, communities together, the Republic Bank Sustainability Expo is poised to be one of the most ground-breaking ways that we can elevate and achieve our sustainable finance objectives in a spirit of innovation, ideation, and collaboration.

When it comes to the future of sustainable finance and investment, financial institutions have a huge task ahead.

Fortunately, since no one stakeholder is able to do it alone, the future of sustainable finance is, without question, a collaborative one.

The Republic Bank Sustainability Expo 2024. This is the Power of Collaboration.

We hope to see you there.