For the competitive edge
(ger.: Studie Nachhaltigkeit im Finanzwesen: Wettbewerbsvorteil statt Feigenblatt)
The United Nations’ Agenda 2030, the Paris Climate Agreement or the European Union’s Green Deal clearly express that global politics is setting the course towards a society and an economic model that are more strongly oriented towards environmental, social and good corporate governance criteria.
An important pillar of this transformation is the financial industry. Financial intermediaries play a key role in the transition to a sustainable economy. The money of private and institutional investors must be channelled into green projects. Products and processes must be established to meet the foreseeable surge in demand for sustainable investments. Last but not least, the own organisation has to be aligned sustainably in order to remain attractive for owners, investors, employees and customers.
The European Banking Authority (EBA) and the German Federal Financial Supervisory Authority (BaFin) not only ensure that banks and financial service providers address the sustainability of their business models. They are also driving the industry to deal with the risks resulting from the transformation at an early stage and to adapt their risk management accordingly.
But transformation does not only bring risks, but also opportunities: gaining trust, increasing customer satisfaction and strengthening one’s own business model.