Banking, Financial Services, and Insurance (BFSI) firms have been making bold commitments to sustainable investing for more than a decade now, but the announcements have increased dramatically in the last 24 months. Regulatory push, changing demographics, risk mitigation, and an emphasis on brand equity have driven BFSI firms’ focus on sustainability. Next-generation workforce is attracted to companies with strong sustainability policies, and clients too prefer banks with a strong Environmental, Social, and Governance (ESG) standing.
In response, BFSI firms are taking a multi-scale approach to manage their sustainability aspects. They are focusing on their desired market positioning, product differentiation, a sustainable operating model, evolving partnership network, and optimal leverage of human capital to support sustainable initiatives. To support BFSI enterprises in their sustainability journeys, the ESG partner ecosystem is expanding at an exponential rate and bringing unique propositions to the market.
In this research, we examine the sustainability trends, demand themes, and challenges in the BFSI industry. We also study sustainability-related opportunities for providers in the BFSI domain and supplier developments for IT service providers, consulting firms, data & analytics providers, and technology vendors. We study these providers’ growth potential, offerings, partnerships, case studies, and business strategies and lay down a framework that can help ESG providers optimally tap into this market.
Scope
Industry: BFSI
Geography: global
The research is based on Everest Group’s interactions with leading D&A providers in ESG, IT service & consulting providers, technology vendors, and an ongoing analysis of sustainability in the BFSI market
Contents
This report examines:
- The rise in BFSI firms’ sustainable finance commitments
- Factors driving increased focus toward sustainability in the BFSI industry
- Challenges that BFSI firms face in sustainability integration
- Emerging sustainability vendor landscape in the BFSI industry
- A deep dive into supply-side trends, opportunities, and offerings
- Everest Group’s outlook on the implications for ESG providers in the BFSI industry
Membership(s)
Banking Information Technology
Insurance Information Technology
Sourcing and Vendor Management
