The National Bank of Hungary (NBH) said it joined an initiative of the United Nations establishing principles for banks to take climate action and support sustainability. The NBH signalled its support for the UN’s Principles for Responsible Banking “to encourage more Hungarian lenders to make firm, public commitments, for which they may be held accountable, in the area of financing sustainable, green businesses” and sign the Principles Signature Document. The principles include aligning business strategy with individual needs and social goals as expressed in the Paris Climate Agreement and relevant national and regional frameworks and reducing negative impacts on people and the environment. They also include encouraging sustainable practices among clients and engaging with stakeholders to achieve social goals. So far 130 lenders have signed the principles, including a number which have subsidiaries in Hungary, the NBH noted.