Unity Trust Bank sets the standard with its first impact verification
Unity Trust Bank has become one of a small number of banks around the globe to be independently assessed as meeting the ‘Operating Principles for Impact Management’ standard.
This latest milestone underscores Unity’s commitment to drive positive social change and creates a benchmark for responsible banking in the UK.
The ‘Principles’ are globally recognised guidelines for investors to ensure that their money is being used for good and reported in the correct way.
Unity’s impact management system was reviewed and verified by The Good Economy, one of the UK’s leading independent impact advisory and assurance firms. The verification confirms that the bank’s processes are robust, credible, and aligned with best practice in impact management.
Joshua Meek, Chief Impact Officer at Unity Trust Bank, said: “This is another first for Unity.
“Our mission is to be the UK’s leading social impact bank and this verification of our alignment to the ‘Principles’ represents a significant achievement.
“When people place their deposits with us, they know their money will only be used to deliver good. Verifying our approach to measuring the impact is critical to demonstrate that ethical banking is a good choice for our customers.
“This is our first year of verification and we will continue to strengthen our approach to impact management to best serve our customers and contribute to growing the impact economy.”
Unity has also shared its approaches to impact management with its customers through an Impact Management Toolkit on its website.
Jenni Zietsch, Technical Lead at The Good Economy, said: “Unity Trust Bank’s alignment with the ‘Principles’ reflects a truly thoughtful and well-embedded approach to impact.
“Their commitment to purposeful banking is evident not only in their strategy but in the way they put impact into practice.
“It has been a privilege to independently verify their system and recognise the strength of their leadership in the UK impact finance sector.”
Unity Trust Bank was the first UK bank to be accredited as a Living Wage Employer and the first to achieve the Fair Tax Mark. It was also the first UK bank to support HACT’s Retrofit Credits' scheme, and was the first UK bank to invest in Local Climate Bonds.
