Sustainable Finance, the Law and Stakeholders: Values-based Banks and Global Banking Regulation

全球银行业监管正处于从主流主导经济模式向以人为本的可持续模式的突破性转变的边缘。这项创新的全球研究以转型和监管理论为依据，旨在最大限度地利用机会，为银行业的这种范式转变提供信息和支持。它将通过探索“以价值为基础的银行”的作用和潜力来实现这一目标。“以价值为基础的银行”是指遵守《可持续银行原则》（2011年）的小型利基银行，它们以价值为导向，而不仅仅是利润为导向，从而为全球银行业监管的重塑提供信息。为了实现这一目标，建议与全球价值银行联盟（GABV）和世界银行（WB）合作，共同创建和开展这项及时的专题研究，该联盟目前代表40家小型商业银行，信用合作社，全球小额信贷银行（包括英国），并与世界银行（WB）合作，为这项研究提供必要的杠杆作用。这项研究是在正在进行的关于金融和银行业在实现可持续发展（SD）中的作用的辩论中进行的。可持续银行的概念是复杂的，因为它涉及到平衡银行业务的社会、环境和金融方面的目标，以及利用银行服务实现社会和环境的长期影响。目前全球银行业监管的重点是金融稳定委员会（FSB）认定的规模最大、经常被称为“大到不能倒”的银行。小型银行完全有能力将可持续发展作为其业务的核心，但它们为全球银行业监管提供信息的潜力尚未得到探索。在过渡和监管理论的指导下，本研究将从GABV利基银行的经验中汲取创新样本。这项研究将分两个阶段进行，采用混合方法：基于案头的审查和定量和定性数据的三角测量。两个项目将有助于获取和充分收集数据：在GABV进行为期6个月的实习，在世界银行进行为期3个月的实习。这项研究将积极吸引非政府组织参与，它们关注当前关于可持续银行监管的辩论(例如：地球之友，金融观察)。第一阶段将确定以价值为基础的银行的创新和利基可持续发展实践，并通过调查和访谈评估这些实践能够和应该在多大程度上为全球银行业监管提供信息。例如，基于价值观的银行的社会参与实践可能构成最佳可持续发展实践，但对全球银行业监管可能用处不大。或者，这些银行可能有特别强有力的环境披露做法，可以纳入全球监管。该研究将通过焦点小组确定将创新和利基可持续发展战略纳入全球监管的首选监管策略，该小组将举行多次会议。第二阶段将通过调查、访谈和焦点小组，与全球银行监管机构（如FSB）和最大的全球银行（如巴克莱银行）一起评估和测试第一阶段的提案。最终，它将确定那些以价值为基础的银行的做法，这些做法可以被全球监管机构切实采取。第二阶段还将建立一个利益相关者论坛，其任务是推广第二阶段的发现，并确保它们被列入全球监管机构的议程。这项研究将产生若干高质量的产出，包括计划出版的专著、四篇期刊文章、两份影响报告和发展跨学科联系。它将使几个利益相关者受益，如GABV、世界银行、全球监管机构、非政府组织和大型银行。

Global banking regulation is on the verge of a ground-breaking transformation from the mainstream dominant economic model to a people-oriented sustainable approach. This innovative global research, informed by transitional and regulatory theories, aims at maximising the opportunities to inform and underpin such a paradigm shift in the banking sector. It will do so by exploring the role and potential of 'values-based banks' - that is small and niche banks which adhere to Principles of Sustainable Banking (2011) and are values-driven rather than exclusively profit-driven - to inform the re-shaping of global banking regulation. In order to realise this ambition, it is proposed to co-create and conduct this timely and topical research over three years in partnership with both the Global Alliance for Banking on Values (GABV) which currently represents 40 small commercial banks, credit unions, microfinance banks globally (including the UK), and with the World Bank (WB), which made a formal offer to provide the necessary leverage for this research. The research is set within the ongoing debate over the role of the financial and banking sector in achieving sustainable development (SD). The concept of sustainable banking is complex as it relates to the goals of balancing the social, environmental and financial aspects of banking business and using banking services to achieve social and environmental long-term impacts. The current focus of the global banking regulation is on the largest and frequently described as the 'too big to fail' banks identified by the Financial Stability Board (FSB). Small banks are well positioned to have SD as the core of their practices but their potential to inform global banking regulation is unexplored. Following innovative sampling informed by transitional and regulatory theories, the research will draw from the experience of GABV niche banks.The study will be conducted over two Phases by taking a mixed methods approach: a desk based review and a triangulation of quantitative and qualitative data. Two placements will facilitate access and the adequate collection of data: a 6-month placement at GABV and a 3-month placement at the WB. The research will actively involve NGOs, which follow the current debates on SD banking regulation (eg. Friends of the Earth, Finance Watch).Phase 1 will identify values-based banks' innovative and niche sustainable development practices and assess how far these practices can and should inform global banking regulation via surveys and interviews. For example values-based banks' social engagement practices may constitute best SD practice but may be of little use for global banking regulation. Alternatively, these banks may have particularly strong environmental disclosure practices which could be included in global regulation. The research will identify the preferred regulatory strategies for embedding the innovative and niche SD strategies into global regulation via a focus group, which will meet several times.Phase 2 will assess and test Phase 1 proposals with the global banking regulators (such as FSB) and the largest global banks (such as Barclays Bank) via surveys, interviews and focus groups. Ultimately, it will identify those values-based banks' practices that can be taken up realistically by the global regulators. Phase 2 will also lead to establishing a Stakeholder Forum, whose mandate will be to promote Phase 2 findings and ensure they are on the global regulators' agenda. The research will lead to producing several high-quality outputs, including a planned monograph, four journal articles, two impact reports, and developing interdisciplinary links. It will benefit several stakeholders such as GABV, the World Bank, global regulators, NGOs, and large banks.