Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home Uncategorized 67% of financial services firms invest more than half a million pounds into becoming sustainable each year

67% of financial services firms invest more than half a million pounds into becoming sustainable each year

by wrich
0 comments

57% of financial services professionals have called on governments to do more to drive sustainability within the industry 

London, United Kingdom, 22nd July 2021: More than two-thirds (67%) of financial services firms invest more than half a million pounds into sustainability initiatives each year, according to a global poll of 550 decision makers working within financial services enterprises, banks, hedge funds, insurance and pensions firms, conducted by the data-driven thought leadership agency, iResearch Services. 

More than half (57%) of financial service professionals believe that governments need to do a better job of supporting the implementation of sustainability initiatives, and 42% suggest that policymakers must get involved to accelerate the necessary changes and to bring in regulation that enforces sustainability. 

These organisations spend the highest portion of their total annual budget on digital transformation and IT (39%), while 25% goes on staff training and skills development. But most significantly, more than a quarter (28%) of this budget goes on initiatives and technology that will help to make their business operate sustainably. 

More than half (56%) consider their sustainable physical presence a major focus for the organisation, with 39% suggesting initiatives have lost pace due to the Covid-19 pandemic. 

Commenting on the findings, Yogesh Shah, CEO at thought leadership agency iResearch Services, said: “These responses clearly demonstrate that financial services firms are willing to put their money where their mouth is.” 

“It is clear that sustainability initiatives are demanded by customers, partners and prospects. Moving forwards, it won’t be enough to simply show good intentions, but to demonstrate tangible outcomes as well.” 

Almost one in five (15%) of the firms polled are investing in excess of £2 million per year into sustainability strategies, 22% are spending between £1 million and £2 million, while a third (30%) spend between £500,000 and £1 million. Only 15% of firms polled spend less than £250,000 annually on sustainable initiatives. 

Institutions in China lead the way with investment of more than £2million (40%), Germany (24%) leads the way in Europe spending over £2 million, with only 12% in the US spending this amount, and it drops further to only 8% in the UK. 

According to 48% of respondents, the biggest driver for firms to put in place sustainability strategies is to demonstrate alignment with their core vision and values. Despite this, one-in-ten (11%) are doing it to keep up with competitors, and only 5% suggest it would lead to commercial growth. 

Of those surveyed, 48% believe that their business is ‘very sustainable’ right now and feel they have a strategy in place to go even further. Only 5% believe their organisation is not sustainable enough. 

Shah added: “Employees and employers are in sync on the issue of sustainability, both sides perceive the need for sustainable initiatives as paramount to the future of their business. What is perhaps surprising is that only a small portion of financial services professionals feel the bottom line will be impacted.” 

Please see the full report here: https://www.iresearchservices.com/report/how-sustainable-is-financial-services

Recent Post