Our commitment to tackling racism and inequality

The banking and finance sector employs hundreds of thousands of people across the UK and provides services to millions of customers every day. As an industry it is vital that we represent all of the communities we serve, that we treat people equally and fairly in everything that we do and that we never let discrimination and injustice go unchallenged.

We have seen many people from across the country come together in recent weeks to protest against the racial injustice and inequality that still exists in our society and to call for urgent action and change.

As a body representing banking and finance and all those who work in our industry, UK Finance has a responsibility to condemn racial inequality and discrimination in all its forms and to help deliver meaningful action in creating equality for all.

In recent years our industry has worked together to improve the culture in banking and finance and to focus on the customers, colleagues and communities that we serve. But it is clear that there is still more to do to improve diversity and inclusion.

At UK Finance it is our role to work with others in promoting and raising standards across the industry. Over the coming weeks and months, we are committing to work with our members to identify the actions needed to address inequality in the industry and to promote and support effective initiatives that prevent discrimination.

This includes ensuring we are doing we can as an employer as well. We will review our own internal policies to ensure equality of opportunity. We will strengthen support for our black and ethnic minority colleagues and education for all our staff. And, continue to work to make sure black and ethnic minority voices are represented at every level of our organisation.

As our industry plays its part in the country's economic recovery from the Covid-19 pandemic, we have an opportunity to put improved values, culture, diversity and representation in business and across society at the heart of our efforts. It's essential that we challenge ourselves to do so and we must invest now to drive this change.