Assessment of the ESG rating of banks

Ruziyeva Elvira and Eshmuradov Ulugbek

GREEN ECONOMY AND DEVELOPMENT, 2024, vol. 2

Abstract: Environmental, Social, and Governance (ESG) ratings are gaining significant traction. These ratings act as awindow into a bank›s commitment to sustainability practices. They assess how a bank integrates environmental, social,and governance factors into its operations and the associated risks.ESG encompasses three key areas: environment, social responsibility, and corporate governance. These factors influencethe activities of every business entity. Considering these factors is crucial when evaluating the effectiveness of acompany›s operations and the outcomes of its policies.A common misconception exists that ESG factors and their implementation are only relevant to companies directlyinvolved in resource extraction and production. However, the reality is that all economic entities, including financial institutions,especially banks, need to adopt these criteria for sustainable development.The article emphasizes the need for standartized and universal ESG rating indicators. This would require employing variousassessment methods to ensure a comprehensive evaluation.

Keywords: ESG rating; rating agencies; environmental risks; social risks; management risks; ESG of banks. (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:teu:ged000:v:2:y:2024:id:2128

DOI: 10.5281/zenodo.12742770

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