“An appropriate goal of Financial Institutions (FIs) should be the advancement of environmental protection and social justice rather than solely the maximization of economic growth and/for financial return.” Explain the main principles to be embraced by FIs which are required to achieve this goal.

The idea that financial institutions (FIs) should prioritize environmental protection and social justice over solely pursuing economic growth and financial returns is rooted in the concept of sustainable finance. Sustainable finance recognizes the interconnectedness of economic, social, and environmental factors and advocates for the integration of sustainability considerations into financial decision-making. To achieve the goal of advancing environmental protection and social justice, FIs should embrace the following main principles:

1. Environmental and Social Risk Management: FIs should adopt robust environmental and social risk management practices. This involves identifying, assessing, and managing the potential environmental and social impacts ___ __________ _________ ___ ________.
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