Financial Overview

At the year end, the Global Alliance for Banking on Values (GABV) had delivered a surplus of EUR 34K, compared to a budgeted deficit of EUR 86K. Excluding investment projects using finance from the appropriated reserve (to develop the GABV’s data management capacity and develop the online ecosystem) the surplus is EUR 75K compared to a budgeted deficit of EUR 33K.

The reasons for a surplus, excluding the appropriated reserve for investment projects, were largely because of higher than budgeted membership fees. This, in turn, was due to the growth in assets size of existing members and new members who were larger than anticipated and therefore generated higher fee income. Operational costs were also lower than budgeted. This was due, in part, to lower co-worker costs, postponing part of the investment project budget from the data management/ scorecard project and lower than anticipated rental costs.

Grant Related Income ( VALoRE and PCAF) continued to make an important contribution to the 2022 financial position. Limited grant funding will continue into 2023. The GABV Secretariat is grateful for the significant contributions to the VALoRE project, from the Open Society Foundations and to the expansion of Greenhouse Gas assessment and disclosures in the financial industry, via funding to the Partnership for Carbon Accounting Financials (PCAF) programme.

While a number of uncertainties remain, given difficulties in accurately predicting membership growth and the impact of the ongoing pandemic, the GABV anticipates a small deficit in 2023.

Read the full report of the 2022 Annual Accounts

Statement Of Activities For The Year 2022

*Investment projects are to improve the GABV’s online ecosystem and data management, using money appropriated from the reserve.