Putting ESG at the heart of the business

ESG is a huge focus in the financial services industry. But what does it really mean? What can banks do to make a difference?

Of the more than 8 billion people in the world, around 1 billion are unbanked. Whilst we work towards financial inclusivity for that 1 billion, there are still over 7 billion people for whom suitable financial products and services can help them make better choices for the environment.

However, a few token ESG products are not enough. By putting ESG at the heart of the business, Financial Institutions can ensure all their products can help everyone (not just the rich) to plan, save and better manage their finances, and make better choices with their money. By harnessing modern core banking technology, the data is there to help banks better understand their customers, as well as helping their customer understand their own impact. But for Financial Institutions to make a real difference they need to bring ESG to the core of their culture.  ESG should not be a department – it’s a way of doing work.