30 Mar 2010 “Responsibly Transparent: evolution of the market. A comparison between banks, institutions and stakeholders”, AIAF Nr. 74, March 2010

The article “Responsibly Transparent: evolution of the market. A comparaison between banks, institutions and stakeholders” (original title: ” Responsabilmente trasparente: l’evoluzione del mercato. Banche, istituzioni e stakeholder a confronto “) by Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 74 as of March 2010.

KEY INSIGHTS

After the financial crisis that originated in the USA in 2007, the debate on the actual role of corporate social responsibility (CSR) in banks and financial institutions has gained momentum: how to make CSR grow in this sector? How to evaluate it? This is the topic that the Italian Banking Association (ABI) discussed on February 10 and 11, 2010 at the ABI CSR Forum in Rome. During the forum, the CSR effective integration in the company strategy and its subsequent declination into operational objectives has been debated. 

Further discussions were on the topic of CSR disclosure by banks and financial institutions and ESG reporting through KPIs. ESG Commission EFFAS, that Professor Daniela Carosio represented during the speech, elaborated a list of industry specific ESG KPIs, useful to report and evaluate companies’ CSR performance. During the panel, EFFAS’ KPIs were presented and discussed with participants.

2010 ABI CSR Forum welcomed Pedro Ortùn Silvan, Director of DG Enterprise and Industry of the European Commission, who in his speech underlined the relevance within the EU space of the public interest role of banks, emphasizing the need for more transparency to rebuild trust in the financial institutions by the public opinion post financial crisis.

Read the full article on the AIAF review.