Development of solutions to support sustainable growth, also with respect to the consequences of climate change, and enhancement of relational aspects with the various stakeholders to generate value in a long period and anticipate the challenges of competition
Banks are increasingly attentive both to developing a financial offer to support sustainable growth, also with respect to the consequences of climate change, and to enhance the relational aspects with the various stakeholders. From the first data of the BusinESsG 2019 survey that Abi dedicates to sustainability issues, it emerges that the banks' attention is increasingly focused on the development of solutions that also consider environmental and social aspects, as well as economic ones, to support sustainable growth and to anticipate the challenges of the competition.
The Abi BusinESsG 2019 survey is aimed at investigating the methods of integration in the banking business of the environmental, social and corporate governance dimensions (ESG acronym from Environmental, Social and Governance) connected to the performance of the activities. Created on banks equal to 87,4% of the total assets of the Italian banking sector, the survey shows that the company policies related to ESG issues were formalized by banks corresponding to 80% of total assets, while 8% envisage the implementation by 2021.
The survey shows an increased interest on the part of the banks and a more pervasive awareness of the need to integrate environmental and social considerations, as well as economic considerations into the strategies, processes and products of their business. An attention that concerns practically all the banking companies considered by the survey, which derives from the need to manage in an efficient and strategic way the resources available that are natural, financial, human or relational, to understand and anticipate the challenges linked to the transformation and digital competition, to generate value in a long-term perspective, and supported by regulatory evolution.
The survey also shows the increasingly effective integration of sustainability within the corporate strategy, governance and business processes. In particular: the formalization of strategic guidelines that include ESG factors in the industrial plan and / or with specific sustainability plans for banks representing approximately 66% of total sector assets; periodic communication to the Management Bodies (Body with strategic supervision function and Management Body - OSS and OG) on issues related to climate change in 80% at least once a year.