THE GROUP OF BANKERS who joined a recent London seminar on environmental, social and governance (ESG) principles asked about skills: what abilities are required to ensure financial institutions are sustainable and hold themselves accountable to those ESG standards. The event was organised by Headspring, a partnership between the Financial Times and IE Business School, and the question was an interesting one. The answer, some suggested, was a 'millennial' attitude. But how do you achieve that? Younger applicants do query a potential employer's commitment to the wider society, not just to the bottom line, and presenting your bank as a good corporate citizen is a selling point for a sector that has lost much of its appeal since the financial crisis. Showing that a financial institution has ESG policies, targets and initiatives that appeal to younger generations helps redefine corporate culture. These help to placate shareholders and regulators too, as these groups have begun to demand that their subjects prove they take sustainability concerns, particularly those related to climate change, seriously. But change is never easy. There is a natural tension between the old, long-internalised ways and new, unfamiliar ones. Established behaviour is hard to reshape and most of us - whether bank investors, customers or employees - have yet to be truly tested on the potential short-term sacrifices needed to transition to a greener economy.
展开▼
