What does a bank have to do with sustainability? Recent research shows that the finance world plays an important role in companies' transition to a more sustainable organization.
The research was conducted by law firm Addleshaw Goddard, among 1,000 general and financial directors, investors and insurers in Britain, Germany, France and the Netherlands. The results show that 92% of the companies have been influenced by their bank to become more sustainable. Interestingly, banks ranked first as influencers followed by government, investors and insurers.
ABN AMRO and sustainability
One of ABN AMRO's strategic pillars is supporting our clients’ transition to sustainability. As a bank, we have formulated a sustainable strategy with long-term ambitions. Ambitions in the field of climate change and the circular economy. That's why sustainability is an integral part of our services. As a financial wingman, we offer our customers specific expertise on sustainability and incorporate it into our products and services.
Priority in strategy
ABN AMRO is not alone in striving for a more sustainable and circular society. The survey shows that almost half of all banks have made sustainability a priority in their strategy. This has implications for businesses seeking finance. Without a sustainability strategy, it will be more difficult to obtain financing.
In this transition period, companies must prepare themselves for a sustainable future. The change to sustainable business practices must be set in motion in the next few years. If not, there is a chance that the money tap will be turned off by financiers who make this an important condition.
Unlikely as it may be, this makes banks unexpected activists and frontrunners in the field of sustainability.