ESG transformation study: Europe's banks put to the test


Between ecological awakening and economic reality


The need for Europe's banks to take action on ESG is obvious. They have recognized that the consideration of environmental, social and governance factors - so-called ESG factors - is now just as important for their reputation as a solid balance sheet. However, our survey of 36 institutions also shows that most approach the reduction of emissions to “net zero” with very different levels of ambition, assess ESG-related risks with insufficient acuity, let data management slide due to a lack of availability of ESG data and do not adequately price and market “green” products and services.

Overall, the banks rate their ESG competence in the areas of competitive positioning, net zero emissions, risk and data management and business opportunities cautiously. According to the zeb assessment, the majority of institutions are at the first of three levels in these key ESG action areas. In order to achieve full “ESG maturity”, banks must focus in particular on improving their ESG data competence, firmly embed ESG factors in management processes and governance structures and fully involve all stakeholders in the further ESG transformation - in line with the motto “don't preach, inform”.

Our detailed white paper on the ESG implementation study will be published in July (initially only in German).

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Further publications

zeb is a thought leader in the financial services sector. Below you will find a selection of our current publications.