ESG in the Banking Industry – CSSF Survey on Sustainable Finance

ESG in the Banking Industry – CSSF Survey on Sustainable Finance

On September 21, the CSSF published the results of a general public survey on sustainable finance. The survey was commissioned by the CSSF, the Fondation ABBL pour l’éducation Financière and the Luxembourg Sustainable Finance Initiative, and was conducted by ILRES with a sample of 1,011 Luxembourg residents.

The main aim of the survey was to assess the general public’s knowledge and understanding of sustainable finance and to gauge the level of interest in the topic.

The study concludes that while the general public believes that the financial sector can have a positive impact on sustainability, there are still knowledge gaps in the public’s understanding of the relevant terminology and the details of how sustainable financial products function.

The study highlighted the importance of educational action and the primary role that banks and financial advisors can play in it. Survey participants generally view financial professionals as a source of both reference information and confidence, which the ABBL says is both encouraging and challenging, as “the expectations of bank advisors are high and they bear a great responsibility with regard to the development of sustainable finance”.

Stay one step ahead of the competition and don’t hesitate to reach out to our experts to help you tackle the many and different challenges posed by the constantly evolving ESG framework.

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