BNP Paribas tightens restrictions on coal-related lending, plans 2030 exit

first_imgBNP Paribas tightens restrictions on coal-related lending, plans 2030 exit FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):BNP Paribas SA expanded its target to end relationships with customers that use coal to generate electricity by the end of 2030 to all Organization for Economic Cooperation and Development countries, the French bank said in a May 11 statement.BNP Paribas said it will no longer accept any new customers with a coal-related revenue share of more than 25%. The policy is expected to halve the number of BNP Paribas corporate customers using coal for a share of their electricity generation.“BNP Paribas is the first bank in the world that has set a coal-exit date, decided to end the financing of shale-gas and tar-sands specialists, and acquired a leading position in financing renewable-electricity projects,” BNP Paribas director and CEO Jean-Laurent Bonnafé said. “Beyond coal and unconventional hydrocarbons, we are putting in place innovative tools that will enable us to systematically introduce environmental criteria into our lending decisions and align our portfolio with the objectives of the Paris Agreement.”The provisions include loans and financing through financial markets.The company has been gradually tightening its criteria around funding for companies with ties to coal since 2011. BNP Paribas said it has not financed a single new coal-fired power plant anywhere in the world since 2017. In 2019, the bank adopted cutoff dates for customers to stop using coal by 2030 in the European Union and by 2040 for the rest of the world. BNP Paribas said it will continue its commitment to end relations with any customer developing new coal-based production capacity in the near future.Banks, insurers and other financial institutions have increasingly distanced themselves from the coal sector with pledges to stop investing in or providing services to coal companies. Major financial institutions including BlackRock Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc. have recently rolled out policies that restrict or exclude business with the coal sector.[Taylor Kuykendall]More ($): BNP Paribas speeds move toward complete coal exit with new, tighter restrictionslast_img read more

Trust: Antidote for crisis

first_imgWhere do we go for stability when so much around us is in turmoil? As we all face these ever-fluid economic and cultural dynamics, it is natural to look for security & safety. Think about your own tendencies as a consumer these past three months – most of us have flocked to trusted, tried, and true brands. Ones we’ve known for years, who likely know us and our buying habits. We’re also seeing a continued rise in preference for organizations which value people and purpose over profit. This Zeno study shows consumers are four times more likely to purchase from, champion, and trust a company with strong purpose. Credit unions are perfectly situated to be one of those trusted sources, to exude the people-and-purpose-over-profit promise inherent in their very structure, and to guide members through this rocky time and towards financial strength(for them AND for your organization!). Is your credit union ready to step into this moment?But, how does a credit union build trust when personal member interactions are decreasing? Members are adopting digital products faster than ever. Branch traffic is down and unlikely to return to pre-pandemic patterns. And, call centers are seeing increases in call volume, but the pressure to take care of one member quickly and move on to the next is not an ideal environment for developing relationships.While member-facing activities are undergoing dynamic, often daily, operational changes, indirect interactions, such as marketing and brand-building, are what we’ll need to ramp up. Take the time now to develop a strategic marketing framework for building loyalty, trust, and the brand in general, then you’ll see the payoffs for years to come.Know ThyselfSo what’s the first step? Being authentic. It’s much more than just a buzzword for social media. Being authentic allows members and potential members to really see the culture and personality of your organization. Hold up a mirror to your organization and really get to know thyself, as the Greek philosophers believed. Being authentic means aligning your core culture to your communications in such a way that when people encounter ANY type of communication they get to know the organization a little bit. And those communications are more effective when they have a bit of the organization’s spark, or personality, showing. If you took your credit union’s logo off that notification letter, your website or brochures, would people be able to distinguish it from the financial institution down the street? If not, it’s time for a chat.Be SteadyThere’s a second component to being a trusted brand: consistency. This consistency is so important for financial institutions especially as members entrust us with very personal information. If they received communications which did not fit the branding styles, trust would start to degrade. Is this REALLY from my credit union? Maybe it’s a scam instead? We want them to look for certain cues on the credit union’s communications which signal it truly is from their trusted financial partner. Being consistent also allows consumers to recognize your brand faster among all of the consumer noise out there. Consistency comes through using the same fonts, colors, imagery style, tone of voice, as well as other communication elements. Even being consistent in the member experience can make a big impact on building trust. Think about how we expect the Starbucks experience we have in our local store to be the same in the Starbucks we visit anywhere else. Now that’s building trust!Be HelpfulThe third major component is transparency. This one is fairly new to the financial industry (relatively speaking) and tends to be a harder one to put into practice. But because of that, the more transparent your organization is, the more yours will stand out from those who aren’t! Banks and credit unions have traditionally been very secretive about their processes, but that no longer squares up to being a successful brand.But what does being transparent even mean? With information more widely available at the stroke of a keyboard, any disingenuous efforts are quickly rooted out by consumers. Conflicting experiences are called into question and they want to know why it happened. Consumers, especially younger ones, are demanding to have more information about how an organization makes its decisions, where the profits go (and don’t just show them the annual report), and how that organization meaningfully serves the community. So it’s best for everyone to just be upfront and honest in their communications at the onset to save everyone heartache later.A specific tip for being transparent? Think of Kris Kringle in the movie “Miracle on 34th Street”. He worked for Macy’s but would recommend other stores if the requested toy wasn’t available at Macy’s. Macy’s leadership was appalled! They even started to fire Kris, until they heard from customers how much it helped them. It actually created loyalty and goodwill. My clients use the same philosophy when it comes to helping their members and clients – if a member would be better off with a product available from another institution, then they’ll recommend the other institution. That’s one way of being transparent, of being there to serve the member first, not the organization.For another example, let’s take a look at the restaurant industry. Several pizza places offer a tracker which consumers can view to follow their pizza order. What if you had a loan tracker allowing members to view the process timeline? Where their loan was within that timeline? Could certainly save phone calls and emails asking about the status, but more importantly it provides a look into the process itself, providing more information, being more open and collaborative, being helpful. Definitely more appealing, more trust-worthy, than being closed off and secretive.So trust has become more important than ever. And trust is what will get your credit union through this immediate crisis and position it for long-term success. In fact, a recent Accenture study shows us trust-based initiatives in financial institutions can lead to an increase in revenue. Even more importantly though, growing your credit union through trust-based initiatives allows your organization to have even more positive impact on your members and your community. Start with being Authentic, Consistent, and Transparent and you’ll be creating a trusted source in your community. If you want more information about the ACT framework, including additional actions for each component, get the ACT guide here! ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Jackie Brown Jackie Brown fell in love with credit unions in 1995 when called upon to start up an in-house advertising agency at one of the nation’s top 30 credit unions. … Web: Detailslast_img read more

El Gobernador Wolf nombra a Lucas M. Miller como Inspector General del Estado

first_img July 21, 2020 Español,  Press Release En el día de la fecha, el Gobernador Tom Wolf anunció el nombramiento de Lucas M. Miller, el actual Inspector General Interino del Estado, para desempeñarse como Inspector General del Estado de Pennsylvania.“Lucas Miller aporta más de 20 años de experiencia en el servicio público a la función de Inspector General del Estado”, dijo el Gobernador Wolf. “Ya ha demostrado ser un líder capaz en el desempeño de sus funciones, y sé que seguirá asegurando que el gobierno estatal sea responsable ante los residentes de Pennsylvania mediante la ética, la integridad y la responsabilidad”.Recientemente, el Gobernador Wolf creó la Comisión Asesora Ciudadana de la Policía Estatal de Pennsylvania dentro de la Oficina del Inspector General del Estado, y Miller ayudará a liderar esta iniciativa con el fin de garantizar la rendición de cuentas dentro de las fuerzas del orden público estatales.Miller ha ocupado casi todos los cargos dentro de la Oficina del Inspector General del Estado, donde comenzó como Agente de Investigación de Reclamos en 1999. Debido a su especial atención a la ética y la integridad, Miller logró reiterados ascensos dentro de la agencia, primero como Supervisor de Investigadores de Fraude de Bienestar Social, luego como Gerente de Operaciones, con tres cargos de director diferentes en la oficina y como el Inspector General Adjunto del Estado. A través de su carrera, Miller se ha centrado en mejorar la eficiencia del gobierno, eliminar el consumo innecesario y garantizar la rendición de cuentas. Graduado del Instituto Militar de Virginia, Miller vive con su familia en el municipio de Hampden.“El Gobernador Wolf encargó a la Oficina del Inspector General del Estado que garantice la rendición de cuentas del gobierno del estado de Pennsylvania”, dijo Miller. “Me enorgullece y honra que el Gobernador haya confiado en mí para ayudar a liderar esta iniciativa, y espero con ansias este último capítulo del control de la integridad de Pennsylvania”.Miller está reemplazando al ex Inspector General del Estado Bruce R. Beemer, quien fue designado juez del Tribunal de primera instancia del Condado de Allegheny. Miller asumió el cargo de Inspector General Interino del Estado el 2 de enero de 2020.View this information in English. El Gobernador Wolf nombra a Lucas M. Miller como Inspector General del Estadocenter_img SHARE Email Facebook Twitterlast_img read more