Banks and sustainability!!!

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It’s almost unbelievable but the world hasn’t gone mad…they are still their priority. But, PERHAPS, there is a growing (and grudging) recognition in the banking sector that there are considerations other than profit, ROI, etc. Heck, maybe even a realisation that term SYSTEMIC does not apply only to the economic domain! We will see…

Datamonitor: Banking reform: addressing the sustainability of banking business models

The Financial Times recently quoted Andrew Cave, head of corporate sustainability at RBS, as saying: “We are fully signed-up to the goal of sustainable, long-term banking. That means providing customers with useful products that deliver an acceptable return for RBS, but with a view to social and economic responsibility, too.” This kind of sentiment is currently being expressed across the banking sector, and represents a sea change in banks’ attitudes since the heady days leading up to 2007-08.

However, if sustainability is to become a core element of bank practices, there must be major upheavals to the current system.

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