Sustainability is no longer an ‘add-on’

Sustainability & Regulation
26/09/2022 article
Clotilde Bouchet Qorus Community leader

Clotilde Bouchet leads the Sustainability & Regulations community at Qorus. She shares with us some insights after the session that took place in Milan on June 17, 2022.

During the Milan conference, we spent half a day working and sharing experiences on sustainability subjects which are a challenge for banks:

On one hand, a raft of regulations have to be implemented in a very short time.

On the other hand, climate change impacts the way banks and corporates do business: combining financial performance and sustainability is a ‘must have’ today.

Sustainability is no longer an ‘add-on’; it must be embedded in business models and organizations’ strategies. But a lot of uncertainties remain regarding the pace of transformation:

• Innovation: will it be economically viable? How long will it take to implement it in industrial processes?

• Regulation: how long will it take to align all regions and countries on the same rules?

• Financing: as business model transformation requires huge investments, is our economic model strong enough to support them?

• Finally, our day-to-day behavior: how can we adapt education, which is a key element of the pathway to a sustainable economy?

What are the insights of our speakers and key takeaways of this session? All is about transformation and how to implement it!

Benoît Ranini, founder and President of TNP Consultants, shed light on how sustainability and regulation are a terrific lever to define new strategies and boost transformation.

Silvia Benzi, Head of Strategy, Sustainability and IR at illimity, a brand-new bank in Italy focused on distressed credit, explained how ESG has been embedded in the very first stage of the implementation of this innovative model:

• The strategic roadmap set explicit goals on social and environmental dimensions.

• Governance aligns the whole company on shared principles through policies and financial incentives; an ESG board committee has been created in order to guarantee this alignment.

• Data is collected thanks to a fully digital IT model and feed ESG reporting.

Yvonne Holmes, Chief Sustainability Officer of Allied Irish Bank, the leader in Ireland, shared with us how the bank engaged all the company and employees in an ambitious transformation plan: indeed, ESG is not merely the domain of the ESG department but a global project which mobilizes all resources to implement new ESG strategic plans.

The task seems enormous! But thanks to workshops led by Vera Economou – ESG Group Competence Center lead of Raiffeisen Bank International – we were able to experience for ourselves how easy it is to put the subjects on the table, debate, and make proposals to influence implementation of ESG strategies.

Let’s continue to share experiences on ESG transformation plans and ESG trajectories implementation. How can fintech support your plans? What are your key achievements? How did you reach your ESG goals? And so on… 

Qorus chat welcomes your thoughts, needs and story!

Join the next community's physical meeting at our Barcelona event on 1st and 2nd December 2022.

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