Financial services – ESG benchmark report 2024

The 2024 ESG benchmark for financial services offers a detailed evaluation of the sustainability initiatives and strategies of 27 European financial institutions. Our analysis relies on publicly available information, including annual reports, sustainability reports, ESG rating agency reports and company websites.

This year, the benchmark has been expanded to include more financial institutions, offering a more comprehensive view of the industry’s sustainability efforts. We updated our KPIs and topics to reflect market trends and best practices. Our benchmarking also reviewed ESG controversies through media and NGO sources for an external industry perspective.

The benchmark focuses on four main pillars:

Products and services: We have evaluated how financial products and services meet environmental and social responsibilities, including product portfolios, partnerships, customer education, and setting targets and plans.

Internal assets and operations: We have examined the efforts to enhance sustainability across companies’ operations, supply chains, and investments to ensure they are genuinely committed to responsible business practices.

Internal governance: We have examined how organizational structures and governance practices support sustainable outcomes, integrate sustainability into decisions, and foster a sustainability culture among employees and stakeholders.

Monitoring and reporting: We have evaluated the quality and transparency of ESG disclosures, practices ensuring reporting credibility, and measures to prevent greenwashing.