Retaining an executive search firm like Creative Talent Endeavors to find your next ESG leader brings significant benefits. Investing in ESG talent is crucial for the banking industry as it aligns with global sustainability goals and regulatory requirements. In fact, a survey by PwC found that 77% of CEOs in the banking sector believe that sustainability is vital to the future success of their organizations.
A few benefits of focusing on ESG talent are enhancing trust and reputation. According to a study by Edelman, 90% of consumers worldwide expect companies to do more than just generate profit; they want them to act responsibly and address social and environmental issues. By prioritizing ESG initiatives, banks can meet these expectations and attract socially conscious investors. In fact, a report by Morgan Stanley revealed that sustainable investing grew by 34% from 2016 to 2020, reaching $17.1 trillion in assets.
ESG talent drives innovation, which is beneficial for banks to address environmental and social challenges. A study by Accenture showed that 62% of consumers prefer to buy from companies that are committed to making a positive impact on society and the environment. ESG professionals bring the creativity and market insights needed to develop innovative financial products and services that cater to this growing demand.
Strong ESG talent also demonstrates a proactive approach to risk management. The World Economic Forum highlighted that climate change is one of the top risks facing the global economy. By having a skilled ESG workforce, banks can effectively mitigate these risks. A report by Harvard Business Review, companies with strong ESG performance have a lower cost of capital and experience fewer incidents of fraud and litigation.
Investing in ESG talent through external executive search firms is a wise choice for banking institutions. The statistics confirm the importance of ESG considerations, the growing demand for responsible practices, and the positive impact of ESG talent on trust, innovation, and risk management. Let’s discuss how we can help you find the right senior ESG leaders for your organization, reach out to me at omar.mryan@creativetalentendeavors.com to schedule time.
