Leaders from across financial services, housing, energy, academia, local government and community organisations came together to explore how stronger collaboration can help communities navigate economic, environmental and social change.
The gathering, held at Newcastle Building Society’s headquarters, marked the first United Nations Environment Programme Finance Initiative (UNEP FI) UK and Ireland Community of Practice event, bringing together financial institutions and stakeholders from across the UK and Ireland.
Discussions focused on how the finance sector can support financial inclusion, education, energy transition, local economic growth and community resilience through collaborative action.
Eric Usher, head of UNEP FI, said: "UNEP FI understands that sustainability challenges across the finance industry are shaped by local realities, and we are committed to supporting our member banks and the broader finance community to address these nuances.
"Our Communities of Practice across Europe bring together financial institutions facing similar challenges in their specific national or jurisdictional contexts to exchange expertise, discuss ideas and practical solutions that address a broad spectrum of sustainability topics.
"The conversations in Newcastle demonstrated the commitment of the financial sector in the UK and Ireland towards building a resilient future.
"The level of engagement throughout the day shows why face-to-face dialogue is essential, and what can be achieved through peer exchange to move the needle on addressing sustainability risks, accelerating the transition and ensuring local communities are included in that transformation.
"UNEP FI will continue working with the finance sector to help turn ambition into action."
Delegates explored how financial organisations can better respond to the distinct needs of communities through financing, innovation and adaptation.
A dedicated session on warmer homes considered how policy, technology and research can support energy efficiency and address barriers faced by households in the transition to cleaner energy.
Andrew Haigh, chief executive of Newcastle Building Society, said: "Bringing together a diverse group of organisations created a valuable opportunity to share ideas, challenge thinking and learn from practical examples already making a difference in our communities.
"A consistent theme throughout the day was the need for collaboration.
"Whether discussing financial inclusion, local economic development, energy efficiency or community resilience, it was clear that many of today’s challenges require organisations to work together across sectors.
"As a purpose-led mutual organisation, Newcastle Building Society remains committed to connecting communities with a better financial future and we are therefore delighted to be signatories to the United Nations Principles for Responsible Banking and to support the UNEP FI."
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Throughout the event, attendees shared examples of how investment in local economies can improve financial wellbeing and create opportunities for individuals, businesses and wider communities.
They said: "The day closed with a clear commitment to turn shared ambition into practical action, with organisations exploring how partnerships, frameworks and transition finance can help communities build long-term financial, social and environmental resilience."
The Newcastle event marked the first UNEP FI UK & Ireland Community of Practice event.