Banks exert an enormous indirect influence on the environment through their lending, investing, and advisory activities - so large that the UN insists without a “step change” in their activities it will be impossible to meet Paris Agreement goals. This puts responsibility for climate change squarely on banks’ shoulders at a time when millennials - as both customers and employees - strongly indicate they want their commercial providers to be accountable, and to articulate a purpose beyond profitability.
This covers not just environmental impact but a wide range of social and governance considerations. Increasingly, both everything we buy and everything our money touches can and will be measured for its impact on sustainability. Just as “green” consumers want traceability in supply chains in order to know when they are facilitating harm or injustice, this is shifting now to tractability in their money. This means it is becoming socially unacceptable to not know where one’s money is and what it is doing. Digital, of course, can bring new levels of insight and visibility to this.
This report explores the impact sustainability is having on the retail banking market, covering environmental, social, and governance (ESG) factors. It details the leaders and laggards within this theme, and examines how consumers’ desire for sustainability will shape the market going forward.
- Sustainability is a way to atone for that by doing demonstrable good for local communities, employees, customers, and the environment, rather than the skin deep PR of “on your side” marketing campaigns.
Reasons To Buy
- Understand the key factors shaping the sustainability trend with the help of GlobalData’s ESG Framework.
- Discover which banks lead the way in terms of adopting and embracing sustainable solutions.
- Learn which initiatives have proven successful, and how sustainability in banking will develop going forward.