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Sustainability on Planet Bank

In: Responsible Investment Banking

Author

Listed:
  • Heffa Schücking

    (Urgewald)

Abstract

The past decade has seen an enormous growth of sustainability initiatives in the banking sector. Acronyms such as CSR (corporate social responsibility) and ESG (environmental and social governance) have become standard bank vocabulary. Most large commercial banks have signed on to a multitude of voluntary commitments such as the Equator Principles, the Global Compact or the UNEP FI Statement on Sustainable Development, to name a few. Many banks produce regular CSR reports to document their achievements, and a new class of consultants has sprung up to analyse banks’ environmental management systems. Commercial banks now compete among each other to receive favourable environmental ratings or to be included in so-called ethical indices. Sustainability has become a financial industry standard.

Suggested Citation

  • Heffa Schücking, 2015. "Sustainability on Planet Bank," CSR, Sustainability, Ethics & Governance, in: Karen Wendt (ed.), Responsible Investment Banking, edition 127, pages 427-438, Springer.
    • Handle: RePEc:spr:csrchp:978-3-319-10311-2_28
    DOI: 10.1007/978-3-319-10311-2_28
    as

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