Helping Communities Work includes the participation of community banks, credit unions, CDFI's and their strategic partners to promote the Principles for Responsible Banking and the Principles of Responsible Investment. The process can help to increase deposits, support small business development, advance the self-directed IRA industry and stimulate place-based investing in projects that advance sustainable development. When cash is used as catalytic capital to advance place-based impact investing in sustainable development, the process need not compromise potential returns on investment. https://www.unepfi.org/banking/bankingprinciples/
The Principles for Responsible Banking provide a unique framework for ensuring that signatory bank strategies and practices align with the vision society has set out for its future in the Sustainable Development Goals and the Paris Climate Agreement. 220 banks have now joined this movement for change, and they represent more than a third of the global banking industry. This is a journey of unprecedented scale and scope at a time when such ambition is urgently needed.
Helping Communities Work can also assist in broadening the socioeconomic scope, impact and value proposition of CRA compliance programs. "Engaging Workforce Development: A Framework for Meeting CRA Obligations" is a publication of the Kansas City Federal Reserve, which can catalyze the effort. https://www.kansascityfed.org/community/workforce/engaging-workforce-cra-framework