ESG is central to financial services business strategies. Meeting regulatory requirements and creating long-term value means navigating a changing landscape of economic and policy considerations.
The ESG data market is undergoing rapid changes due to heightened demand from financial institutions and investors, as well as new regulatory requirements.
Staying ahead of the curve depends on understanding the ESG landscape, mitigating risk, and proactively transforming your business model. Effectively navigating the complex ESG domain can drive growth and unlock value to build a sustainable future for your business and clients.
Why Grant Thornton
Our ESG experts have a robust understanding of regulatory and policy-drivers in the market and experience throughout financial services. You’ll work with a global team of experts who can deliver actionable solutions to build long-term value.
This is how we can help you stay ahead on ESG:
- Strategy, risk, and opportunity identification
- Business transition
- Metrics, targets, and disclosures
- Risk management
- Governance, leadership, and culture frameworks
- ESG and non-financial assurance
- ESG-programme and change management
- Value-creation through effective ESG communication
Reviewing EU Bank climate change and ESG plans
We were required by the European Commission as Monitoring Trustee to assess the risk framework around large global systemic banks in Greece, Portugal, Spain and Cyprus. We were tasked with liaising with bank management and producing a quarterly report for the European Commission on progress and delivery of strategy. Most recently we have been reviewing the Single Supervisory Mechanism’s requirements to address Climate Change initiatives.
What we did
During the engagement we:
- reviewed the overall strategy and its alignment to risk appetite and overall management of risk and control
- reviewed the governance approach and oversight
- evaluated the effectiveness of the overall risk management framework
- evaluated the internal audit function and their adequacy over the three lines of defence framework
- performed an assessment over management of prudential risk i.e. capital and liquidity management
- assessed areas of opportunity for cost rationalisation and enhanced cost control.