SuMi TRUST Bank adopts Global PSSL principles 14 October 2021US Reporter: Carmella Haswell
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The Global Principles for Sustainable Securities Lending (Global PSSL) welcomes Sumitomo Mitsui Trust Bank’s (SuMi TRUST Bank) decision to adopt its principles as part of the bank’s Multi-stakeholder Dialogue.
SuMi TRUST Bank has been recognised by Global PSSL as one of its partnerships to tackle solutions to difficult challenges for a sustainable society alongside long-standing initiatives, such as The United Nations (UN) principles for Responsible Banking, UN Global Compact, The Principles for Responsible Investment and The Equator Principles.
SuMi TRUST Bank represents both the trustee and agency lending side for Global PSSL purposes. “Consequently [SuMi TRUST Bank] adds enormous value in supporting our holistic approach to sustainability,” says Global PSSL.
Dr Radek Stech, founder and CEO of Global PSSL, says: “I have worked with all key stakeholders to develop an authentic global approach to sustainable securities lending since 2018. I relied on my fifteen years of experience that included enhancing environmental justice in Europe, co-drafting the first UK sustainability legislation, engaging with The Green Bond Principles, and taking part in the stakeholder consultation process for the World Bank Environmental and Social Framework.
“That experience taught me the difference between those who simply say the right thing and those who actually do the right thing. I am grateful to SuMi TRUST Bank for doing the right thing alongside our other Global PSSL opening signatories.”
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