BRIEF

on Cometis AG

Banks and Insurers Show Progress in Climate Reporting, Lag in Resilience and Transparency

The Global ESG Monitor (GEM) 2024 indicates that banks and insurance companies are advancing in climate reporting but still have significant scope for improvement in resilience reporting and transparency. With an average reporting quality just under 50 percent, they perform slightly better compared to the overall sample of 194 companies, but gaps remain, particularly in detailing financial risks from climate change.

As central players in economic and ecological sustainability, banks and insurers have not fully integrated these aspects in their reports. Strategic climate awareness is evident, but the depth in reporting on resilience and financial impacts is lacking. Just under 60 percent of the nine key institutions assessed focus adequately on resilience.

ESRS compliance remains low, highlighting the need for enhanced transparency to support their role as crucial partners in the Green Deal. Despite some pioneering examples, more work is needed to align their reporting with ESRS standards and enhance investor confidence.

R. P.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Cometis AG news