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ESG and Banks: Towards Sustainable Banking in the European Union

In: The Palgrave Handbook of ESG and Corporate Governance

Author

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  • Mafalda Sá

    (University of Coimbra)

Abstract

The relationship between banks and environmental, social and governance (ESG) factors is of increasing concern to the sustainable development debate. This chapter discusses the specific connection between ESG and the banking sector and reviews the corresponding regulatory response by the European Union, including the proposed Banking Package of October 2021. ESG factors represent real financial risks to banks, which impact how they should be managed, while banks themselves have an impact on ESG, by introducing green banking products, exerting pressure over financed entities and steering the economy. In light of this mutual interaction, and within the European Union’s sustainable finance plan, sustainable banking regulation is emerging. The chapter reviews the new European rules and proposals aimed at credit institutions on disclosure, governance and risk management mechanisms, and adjustments to capital requirements, analysing their potential implications for banks and for overall ESG objectives.

Suggested Citation

  • Mafalda Sá, 2022. "ESG and Banks: Towards Sustainable Banking in the European Union," Springer Books, in: Paulo Câmara & Filipe Morais (ed.), The Palgrave Handbook of ESG and Corporate Governance, chapter 0, pages 375-398, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-99468-6_19
    DOI: 10.1007/978-3-030-99468-6_19
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