EBAday 2022 is right around the corner, and as the event approaches, we’re taking a closer look at some highlights from the schedule. Notably, the lunchtime session on the second day titled "Meeting the Net-Zero Challenge: How Can Banks Fulfill CSR Expectations?" promises to be a significant discussion.
Madhvi Mavadiya, Finextra’s head of content, will facilitate this important panel, guiding discussions on the critical questions surrounding the pursuit of net-zero objectives. The session will delve into how banks can navigate the transition from a shareholder-focused to a stakeholder-driven capitalism model. Featured panelists will include:
- Kalliopi Chioti, Chief Environmental, Social & Governance (ESG) Officer at Temenos
- Silvia Mensdorff-Pouilly, Senior Vice President of Banking and Payments, Europe, at FIS
- John Willis, Director of Research at Planet Tracker
In a recent blog post on Finextra, Chioti emphasized the growing challenge of reconciling banks’ environmental responsibilities with their commercial goals. She noted, “Consumers are increasingly aligning their financial choices with their values, especially millennials, who are set to inherit $68 trillion by 2030. They tend to assess banks based on their ESG performance.”
Chioti further remarked, “It’s vital for banks to recognize that their sustainability efforts are now as crucial as their financial products. A lack of commitment to green practices could undermine their viability in the eyes of customers who prioritize social and environmental responsibility.”
Achieving net-zero emissions remains a top priority for financial institutions, which are increasingly under pressure to acknowledge their impact on a broad range of stakeholders, including customers, suppliers, employees, and local communities. Neglecting these responsibilities could lead to reputational harm and jeopardize their transition to net-zero in Europe.
Recently, the Bank of England cautioned banks to address climate risks immediately, warning of a potential 15% decline in annual profits if they fail to act. This announcement coincided with the release of its Climate Biennial Exploratory Scenario, in which Deputy Governor Sam Woods highlighted that climate risks could significantly diminish the profitability of banks and insurers over time.
“To achieve net-zero, many sectors must fundamentally transform their business models. It is in the interest of financial institutions to back counterparts with credible plans to adapt and minimize their exposure to sectors misaligned with net-zero initiatives,” Woods stated.
For the complete agenda, visit the EBAday website here and organize your schedule around the session lineup here.
After hosting virtual events for two years, EBAday 2022 will take place in person for its seventeenth edition, gathering board members, CEOs, and heads of payments and technology from Europe’s leading banks and selected fintechs.
You can still register to attend EBAday 2022 in Vienna, Austria, on May 31 and June 1 here.