The transition to a sustainable economy is an unavoidable priority, which concerns everyone, and the banking world is an important enabler. Within the evolving European regulatory perimeter, the role of banks is increasingly crucial, both as companies interested in sustainable transformation and as promoters of investments aimed at supporting the equitable and lasting growth of households and businesses. This theme kicks off the third edition of 'Esg in banking', the event promoted by ABI and organized by ABIServizi on issues related to environmental, social and business management criteria (Esg, an acronym from the English Environmental, Social and Governance) in the financial sector.
Today and tomorrow, in Milan, banks, institutions, experts and other businesses will reflect together and discuss ways to support and spread the commitment to sustainable development. The event is organized in connection with #ilCliente, the annual appointment that ABI dedicates to the relationship between banks and customers, which is increasingly developing with a view to sustainability.
"Banks are already heavily engaged today in the implementation of the numerous regulations and supervisory guidelines on the subject, partly still in the definition phase, which require integrating the ESG profile into their strategies and risk management - said the Director General of ABI, Giovanni Sabatini, at the opening of the event - To develop this process, however, the presence of a regulatory environment conducive to sustainable development and characterized by clear and complete standards, necessary to guide the economic activities of companies and financial flows". "A quick and clear definition of the complex regulatory framework governing the matter - continued Sabatini - will be essential to facilitate the management of the important challenges posed by the transition process in progress".
Comparable and accessible data
For banks, sustainability means promoting investments, asset management and the creation of banking and financial products and services taking into account their impact on the environment and society, in compliance with legislative provisions. This area includes the verification of the sustainability of the projects of businesses and households that ask for various forms of bank loans.
The many challenges banks are facing in this regard are partly related to the scarce availability of data on corporate sustainability profiles. Therefore, the ABI represented the need to make available to the banking world also the data of an administrative nature existing in the environmental field, but currently unavailable to banks, as well as to enrich some public databases with further ESG information which are not always suitable at the moment for sustainability reporting purposes of banks and other companies.
“Making sustainability data also of an administrative nature available – explained the General Manager of ABI Sabatini in his opening speech – would above all facilitate companies that could more efficiently focus the dialogue with the banks on how they manage or intend to manage the ESG factors and to meet the investment needs for the transition, and banks, facilitating their fulfillment of the reporting obligations on sustainable finance envisaged by the legislation, protecting themselves from risks, for example deriving from climate change, and seizing new opportunities relating to the needs of investments for the transition”.
This, moreover, would facilitate the possibility of seizing the opportunities offered by the National Recovery and Resilience Plan, with an acceleration of the development process of the territories and its economic fabrics in a sustainable key.
The conference
'Towards a new balance' is the title of this year's appointment which starts the reflections in the context of the ABI 'Esg in banking' event. During the two days, the following topics will be discussed: how to achieve sustainability, between current scenarios and future challenges; governance and organizational models; strategy and planning; risk management, reporting and ESG data; sustainable credit and innovative supply chain approaches; risk management and evolution of control systems; sustainable omnichannel sales; sustainability of new technologies and the use of data; marketing and communication strategies in the new context of sustainability development.
The event takes place face to face in Milan. Participation is free, through registration. The complete program and all the useful information on the conference are available on the website https://esg.abieventi.it/.