The Challenges for Banks in the Long Term

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The main areas of focus an the suscanability strategy for a specific bank depend very much on the business model. Banks are focusing on where they can make the biggest impact and assist their clients in their transition to sustainable banking. But it is still very difficult to gather information on this because it's not as tangible, and it's difficult to have quantitative data to use as a threshold with climate.

In this episode of the ESG Insider podcast, we explore the evolving role of the Chief Sustainability Offer, which is taking on greater importance in many organizations as awareness of environmental, social and governance issues grows.

In many companies, the CSO is now working in tandem with Chief Executives and Chief Financial Officers. Often CSOs act as the "glue" embedding sustainability throughout company strategy and across different departments, Francesca Messini tells us in the episode. Francesca is a sustainability leader at audit, consulting and advisory firm Deloitte and an author behind a new report about the rise of CSOs in the European banking industry. The report was jointly published in June 2022 by Deloitte and the European Banking Federation, a trade group.

"The Chief Sustainability Officer is not anymore a 'nice-to-have' role, but is a 'must have,' and has been proved to be essential to steer the sustainability strategy and the commitments that the banks are taking," Francesca says.

We'd love to hear from you. To give us feedback on this episode or share ideas for future episodes, please contact hosts Lindsey Hall (lindsey.hall@spglobal.com) and Esther Whieldon (esther.whieldon@spglobal.com).

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