Sustainability on Planet Bank

Heffa Schücking ()
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Heffa Schücking: Urgewald

A chapter in Responsible Investment Banking, 2015, pp 427-438 from Springer

Abstract: 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.

Keywords: Corporate Social Responsibility; Commercial Bank; International Energy Agency; European Investment Bank; Energy Efficiency Investment (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-319-10311-2_28

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DOI: 10.1007/978-3-319-10311-2_28

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