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ESG and anti-financial crime: Two sides of the same coin?

Author

Listed:
  • Bugeja, Diane

    (Senior Associate, Camilleri Preziosi Advocates, Malta)

Abstract

Over the past years the fields of environmental, social and corporate governance (ESG) and anti-financial crime (AFC) have grown to encompass major concepts which various business entities have struggled to grapple with. Both ESG and AFC developed separately, against different backgrounds and for different reasons. ESG is still a growing area (when compared to AFC) and much of the focus so far has been on investments within the ‘environmental’ criteria. Hence, it has not come naturally to most industry players to consider these two important risks together and highlight similarities between these two concepts. This paper looks into each of the factors making up the ‘ESG’ domain and assesses further how these are linked to AFC considerations. The aim of this paper is ultimately to get financial services market players to think about how to manage ESG and AFC together rather than in silos, in the hope of reaping even more benefits and avoiding duplication of similar workstreams.

Suggested Citation

  • Bugeja, Diane, 2024. "ESG and anti-financial crime: Two sides of the same coin?," Journal of Financial Compliance, Henry Stewart Publications, vol. 7(3), pages 242-248, April.
    • Handle: RePEc:aza:jfc000:y:2024:v:7:i:3:p:242-248
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    More about this item

    Keywords

    ESG; AML; AFC; corruption; risk management;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

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