Measurement of climate risk, sharing of extra-financial information, development of so-called “sustainable” products: French banks are taking environmental issues more into account, the consulting firm Deloitte said on Thursday.
Social and environmental factors “have become the cornerstone of banks’ strategic plans” which “now systematically include a climate/societal component”, note the authors of the study. Banking Trends (banking trends). The banks “feel that there is more and more information to give on these themes”, explains the sector manager of the firm, Frédéric Bujoc during a press conference. Banks must in particular specify what they are doing “in terms of products”, and “strategy in terms of decarbonization, energy transition”.
The social aspect is not far away, he continues, with the promotion of products intended for a vulnerable clientele as well as the financing granted to hospitals or social housing. In any case, banks have little choice “because of the attention paid by customers, investors or non-governmental organizations (NGOs)” to social and environmental issues, the study specifies.
Target of carbon neutrality “by 2050 or earlier”
In addition, the regulator “will increasingly impose the consideration of climate risks in traditional risk management systems”, for example by asking for stress tests to be carried out on the impact of climate risk.
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Internally, the finance, risk and marketing departments in particular are called upon to integrate these new extra-financial indicators. The major French banks have already made commitments: BNP Paribas, Société Générale, Crédit Agricole SA, BPCE, Crédit Mutuel and even Banque Postale want to review their portfolios to give them a carbon neutrality target “by 2050 or more. early “.
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