ESG transformation in financial services
The financial sector is crucial in promoting a greener and more socially responsible world through effective capital utilization. It plays a vital role in this transition towards a sustainable future.
Environmental, Social, and Governance (ESG) factors are receiving increased attention. Because companies are altering their values and strategies. Additionally, regulations are becoming more stringent.
However, intertwined with the focus on sustainability is the ever-present spectre of risk. Climate change and social factors are big and unpredictable forces that can harm companies' assets and reputation. Customers and investors are placing greater importance on these issues. I.e., risk management, sustainability report, and ESG performance.
Hence, the journey of ESG reporting presents financial institutions with a complex and daunting task. The initial obstacle lies in determining the precise location and approach to commence, which is precisely the challenge that this whitepaper aims to tackle.
It unpacks the three elements essential to building solid ESG foundations in the financial sector:
- An ESG data platform
Multiple dimensions, including external data, can apply the measurement of ESG transformation. These dimensions encompass activities financed as well as products and services obtained through the supply chain.
- Green IT
IT systems and digitization are important for the finance sector, but they also use a lot of energy. This is a double-edged sword for the sector's ESG transformation.
- An integrated delivery plan
Balancing top-down and bottom-up action for institution-wide understanding, buy-in, momentum, and adaptation. Clarifying priorities and areas for maximum impact, from top-level strategy through to daily interactions across customers, products, and suppliers.
Request your whitepaper now. It contains the information, advice, and initial actions you need. This will help you establish three fundamental aspects in your financial services company.
An ESG strategy helps you for sustainability in finance.