VANCOUVER, British Columbia—The World Council of Credit Unions (WOCCU) launched a Climate Influencers Network, discussed ESG, and helped clean up a beach during its meeting here.
The new Network was announced during the association’s 2023 World Credit Union Conference, during which more than 20 credit union leaders from six continents discussed the types of climate resilience issues they would like to see the global movement focus on moving forward, according to WOCCU.
‘Amazing Examples’
“We’re seeing amazing examples of unique approaches to green lending. We’re seeing credit unions that have created compelling strategies for decarbonization and the transition to net-zero. We’re seeing credit unions focused on climate justice, environmental awareness and environmental restoration in their communities,” said Thomas Belekevich, WOCCU director of Member Services. “And if we can show leadership in this space, I think we have a great opportunity to increase the relevance of credit unions around the world.”
The Topics
According to WOCCU, topics discussed in the summit ranged from sustainable finance regulations to access to financing for green products and services, and educating credit union board members and executives in developing nations about why it is important to embrace climate-resilient products and services.
“You might have funds, but people might still not have the awareness that climate change is an issue. So, you need to create that awareness,” said George Ombado, executive director of the African Confederation of Cooperative Savings and Credit Association.
WOCCU said it will take the suggestions from the summit to build out its Climate Influencers Network agenda.
Additional Events
Also taking place at the World CU Conference:
Future of Sustainable Finance
The future of sustainable finance regulations and environmental, social and governance (ESG) issues were discussed during a breakout session.
“I don’t think in Canada there has been even the smallest amount of effort to make this an industrywide message, that we have these principles, and we abide by them—that concern for the community equates to action,” said Brent Clode, chief investment officer at Central 1 Credit Union in Canada. “The banks, on the other hand, and everyone is going to say, ‘Well, the banks have big marketing budgets,’ they are all over this. They are telling the story of how green and sustainable they are. And the credit unions in Canada, as far as I’m concerned, are not,”
Megan Long, FCAC Director at First West Credit Union in Canada said that no matter where a credit union is based, they need to make sure they are getting out a message on sustainability their members want to hear, according to WOCCU.
‘Co-Creation of Strategy’
“So, we really want our members to be part of the co-creation of this strategy and our approach. So, finding out—what is top of mind for their members? What are their concerns? What do they think First West is doing well right now in alignment with the (United Nations) Sustainable Development Goals? And further to that, what we could be doing better,” said Long.
Clode and Long encouraged all attendees to go back to their credit unions and ask these questions.
During the World CU Conference, attendees helped clean up a local shoreline. More than 50 credit union representatives went to the Lost Lagoon in Vancouver’s Stanley Park to clean up plastic and other forms of pollution.
“I just think it’s important that we come out and practice what we preach,” said Alison Bedard, chair of the Supervisory Committee at Greylock Federal Credit Union in Massachusetts. “That’s really it. It was a great opportunity to give back while we’re here in Vancouver.”
WOCCU and Worldwide Foundation for Credit Unions hosted the event in partnership with Ocean Wise Shoreline Cleanup, a Vancouver citizen science program dedicated to the collection of shoreline litter and litter data—which helps scientists, policy makers and businesses take meaningful action to prevent harmful plastic pollution.