Banks are More ESG Aware but Struggle with Data

S&P Global
Thursday, May 20, 2021

Banks are becoming more aware of environmental, social and governance, or ESG, issues, but some still struggle with how to accurately report data or tell their story on these issues. During a panel discussion at an S&P Global Market Intelligence community banking virtual conference, bankers said they were paying more attention to ESG issues because of demand from communities, investors and boards of directors. But even though banks are feeling more pressure to report ESG progress, a lack of streamlined data points can create challenges. A poll during the panel showed respondents pointed to lack of resources and education, along with difficulty measuring environmental and social progress, as the biggest challenges to putting together ESG programs.