Dentons Delany has become a supporting institution member of the United Nations Environment Programme Finance Initiative (UNEP FI) which constitutes a unique partnership between UN Environment and a global network of over 450 banks, insurers and investors from over 50 countries. In doing so, Dentons Delany is the first law firm in the world to become a supporting institution member, a designation targeted at organisations that play an important role in integrating sustainability into the financial system.

The UNEP FI has developed Principles of Responsible Banking which are the leading framework for ensuring that banks’ strategy and practice align with the vision society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks who have signed the Principles commit to be ambitious in their sustainability strategies, working to mainstream and embed sustainability into the heart of their business, while allowing them to remain at the cutting-edge of sustainable finance.

Under the Principles, signatory banks identify and measure the environmental and social impact resulting from their business activities, set and implement targets where they have the most significant impact, and regularly report publicly on their progress.  The Principles provide a framework for banks to systematically understand the risks and seize the opportunities arising from the transition to more sustainable economies.

Dustin Delany, Chair and Regional Managing Partner congratulated the Dentons Delany ESG & Sustainable Finance practice for spearheading this collaboration stating: "We are extremely proud of our talented and dedicated team for achieving this significant milestone. This is another example of our ability respond to the business imperatives of our region and innovate in our field in order to meet the needs of our clients and their evolving commercial objectives.

The initiative was founded in 1992 and today works with more than 450 financial institutions and 100 supporting institutions around the globe to deliver more sustainable global economies. Signatories to the Principles take on a leadership role, demonstrating how services and relationships can support and accelerate the changes necessary to achieve shared prosperity for both current and future generations, building a positive future for both people and the planet. These institutions also join the world’s largest global banking community focused on sustainable finance, sharing best-practice and working together on practical guidance and pioneering tools of benefit to the entire industry.

Corporate Commercial Partner and Head of the ESG and Sustainable Finance practice Rachel Welch-Phillips said, “This is truly an exciting development for our firm as we commit to supporting financial institutions in the region in meeting their sustainability commitments. We look forward to collaborating with UNEP FI on innovative projects to accelerate sustainable finance in the Caribbean”. The ESG and Sustainable Finance practice has been working with businesses across the Caribbean to accelerate corporate understanding and awareness of ESG and sustainable financing. In July 2022, Rachel delivered a workshop entitled “Demystifying ESG in Trinidad and Tobago” organized for 40 business leaders and executives by the United Nations Resident Coordinator’s Office in the country.

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