Investors and other stakeholders want better environmental, social and governance (ESG) information to understand how a company operates, makes decisions and creates value. Consumers want to understand the impact of their choices on the world. Employees want to be sure that their company is working for greater equality, empowerment, better working conditions and a for the benefit of the community.
The EY Future Consumer Index indicates that 68% of consumers believe that companies must achieve positive social and environmental outcomes. In turn, 43% of global consumers want to buy more from organisations that benefit communities, even if their products or services cost more.
Customers today are more goal-driven and look beyond ROI when making investment decisions. This makes it more important than ever to understand their unique needs. EY research shows that those who are driven by sustainability goals are twice as likely to switch financial services providers.
With these considerations in mind, panel participants will seek answers to a number of important questions:
o What are the changes in the expectations of customers, regulators and other stakeholders about the role of banks in transforming the economy towards sustainable growth?
o How to effectively integrate the ESG agenda into to a bank’s management system?
o How to create a culture promoting socially desired practices and behaviours?
o What value could ESG information disclosure bring?
o How to bridge the gap between declarations and decisions promoting the shift of bank customers towards “green”?