Some banks adopted sustainability as part of their corporate social responsibility (CSR) initiatives while others have gone farther to integrate ESG principles and adopt Environment and Social Risk Management (ESRM) into their business operations. There are banks that have adopted voluntary reporting of sustainability performance and established partnerships with international experts to assess and address climate change risks.
BIS central bankers’ speeches  3  Further legislative action is necessary to complete the single market for financial services Let me now turn to the next five years and the legislative agenda for the EU. I see a number of areas where further progress is required in order to complete the Single Market for financial services.