The views and opinions expressed in this article are those of the thought leaders as individuals, and are not attributed to CeFPro or any particular organization.
By Markus Lammer, Chief Operating Officer, Ultra High Net Worth Business, Credit Suisse
What, in your view will be the key impact of ESG on business strategies?
ESG has been growing fast over the past few years, and the pandemic – against some expectations – has given ESG solutions another boost. Whether it is the volume of sustainable bond issuance or assets under management with sustainable funds, many of these indicators have reached all-time highs in 2021, in some cases approaching a share of up to 10% of their relevant markets such as in sustainable bonds.
However, the first quarter of 2022 has brought a bit of a cooling off in the market for ESG solutions in some areas, and we need to observe closely what that will mean for future market dynamics and whether these changed dynamics reflect current events tactically — oil prices, war in Ukraine – or whether they are signs of a more strategic shift.
In any case, ESG is and will remain important for banks as they try to serve their clients’ needs, and will require constant adaptation to products, services, and business processes.