Amid the sustainability brouhaha, financial firms are fixated on fulfilling disclosure requirements and ticking all the regulatory boxes. This has shifted their focus away from translating their pledges into serious and well-defined action plans for ESG integration into core business strategies.
Financial services firms must go beyond the sustainability branding smokescreen and formulate a holistic ESG integration approach, one that will reshape the core enterprise mindset, behaviors, and activities. Such an approach must identify and evaluate impact across opportunities and risks. Besides, a sustainable business strategy must focus on recalibrating product and service portfolios, business models, markets, and customer alignment.
A domain-centric approach, performance metrics, and monitoring parameters significantly enhance the success of enterprise ESG integration. They also boost the credibility of firms’ pledges and sustainability roadmap.
To know how firms can create a well-defined path for ESG integration, click here.