Foresights
Banks in “place race” to establish ESG credentials in increasingly competitive market - report
- Published for the first time - the list of 25 major banks and how they are rated for ESG
- BNP Paribas leading the ESG way, with Credit Suisse propping up the table
London – Monday 18 January, 2022 – Banks are increasingly vying to establish their ESG credentials in a very competitive marketplace, in the wake of the COP26 climate talks and as they look to differentiate in the year ahead.
For the first time, the full list of banks identified in the global research undertaken by East & Partners is being published. The research included direct interviews with the top 100 revenue ranked corporates in each of eight countries – Australia, Canada, China, Germany, Hong Kong, Singapore, the United Kingdom and the USA.
The East & Partners report – Finding the Value in Green Banking - found that BNP Paribas came out top as the best perceived “Stand out” ESG/Sustainable Finance provider globally.
Best Perceived “Stand Out” ESG/Sustainable Finance Provider
% of Total
|
Rank |
N: 752 |
% of Total |
|
1 |
BNPParibas |
11.4 |
|
2 |
Standard Chartered |
9.3 |
|
3 |
Citi |
8.5 |
|
4 |
HSBC |
8.1 |
|
5 |
JPMorgan |
7.0 |
|
6 |
Barclays |
6.9 |
|
7 |
BAML/Bank of America |
5.7 |
|
8 |
DBS |
3.2 |
|
9 |
Deutsche |
2.9 |
|
9 |
Lloyds |
2.9 |
|
11 |
Bank of China |
2.1 |
|
11 |
Santander |
2.1 |
|
13 |
OCBC |
1.6 |
|
14 |
Goldman Sachs |
1.5 |
|
14 |
Morgan Stanley |
1.5 |
|
16 |
ANZ |
1.3 |
|
16 |
RBS |
1.3 |
|
16 |
UBS |
1.3 |
|
19 |
ICBC |
1.2 |
|
19 |
Société Generale |
1.2 |
|
21 |
Commonwealth Bank of Australia |
1.1 |
|
22 |
MUFG |
0.9 |
|
22 |
National Australia Bank |
0.9 |
|
22 |
Westpac |
0.9 |
|
25 |
Credit Suisse |
0.8 |
|
Others |
2.4 |
|
|
None |
11.7 |
|
|
TOTAL |
100.0 |
Martin Smith, East & PartnersGlobal Head of Markets Analysis, said: “Only one bank can be “best” in the eyes of business. When those eyes are the largest enterprises in the world, being “best” is even more important. Out of the 30 individual providers nominated, BNP Paribas was highlighted as the best standout provider of sustainable/ESG finance across all products and services according to global treasurers. Relative to their peers, on a global scale they stood well above the pack.
“Of greatest concern, or perhaps of greatest opportunity, is the very large one in ten portion of global treasurers who did not view any bank as being the best, stand out provider of ESG finance. This cohort of treasurers and bank relationship gatekeepers are open to being won over should a provider come forward.”
Global banks Standard Chartered, Citi, HSBC and JP Morgan rounded out the top five.
Rishi Bhattacharya, CEO of Impact & Influence, a communications consultancy which partnered with East & Partners on the research said: “Many banks are in a “place race” when it comes to showcasing their ESG credentials and expertise, through marketing and communications but also through their actions. While not all providers are as enthusiastic about sustainable finance as others, it is likely to follow the same trajectory as digital and technology adoption which is now an expected component of the overall experience. Providers lacking ESG capabilities risk losing out on wallet share and market share if they are too slow to act.”
***
Notes to Editors
Direct interviews were conducted with the top 100 revenue ranked corporates in each of eight countries – Australia, Canada, China, Germany, Hong Kong, Singapore, the United Kingdom and the USA. All interviews were conducted on a direct basis with the individual responsible for the treasury and banking function. CFOs and corporate treasurers from 752 out of a defined population of 800 institutional enterprises with annual turnover of US$725m plus participated in the research without incentive.
About East & Partners
East & Partners is a leading specialist business banking market research and analysis firm. The firm’s core expertise is in the provision of analysis and advisory services tailored for the commercial, business and institutional banking markets across Asia Pacific, Australasia, Europe and North America.
https://www.eastandpartners.com
About Impact & Influence
Impact & Influence is an independent communications consultancy designed for the next generation of leaders, companies and organisations. It provides both strategic counsel and execution, using communications to create, deliver and protect business value.