This first study by Efma, Ecole des Ponts et Chaussée Business School, and Wavestone aims to establish an overview of the financial sector’s considerable scope for action on the corporate social responsibility front.
The major financial players, starting with the sector leaders who are Efma members, play a key role in economic, societal and environmental terms.
Taking the initial examples of this, which are covered in this study, we can observe: an increase in the number of initiatives from major players, each having a positive impact on available support for entrepreneurs and SMEs; increasing access to financial services underpinned by assistance and financial-education tools; the financing of infrastructure in emerging countries; and financial initiatives that help protect the environment (green funds, etc.).
While it might not yet be enough, we are seeing a shift in the sector’s activity that goes beyond awareness and communication. Some players in our study have put social and environmental responsibility at the heart of their strategies, giving it similar priority to international growth and digital. Today, the majority recognize the virtue and long-term potential of such a strategy.
CSR-related activities and "green finance" now form part of these companies’ strategic plans and models. Their impact will grow, and, in the future, we will endeavor to chart the changes and regularly update this overview by highlighting initiatives by financial players that significantly and positively impact society, the economy, and the environment.
Keywords : Corporate social responsibility (CSR)