Monday, 10 July 2023 04:21

Banking, energy and insurance are the sectors in which ESG weighs most heavily

Written by Evelyn Alas

The percentage of managers who include the adoption and development of sustainability and ESG issues among their strategic priorities has increased seven points in the last three years (from 25% in 2021 to 32% in 2023), according to the 'ESG Perspectives in Spain 2023' report conducted by KPMG in collaboration with CEOE.

In the case of Banking, Energy and Insurance, whose activity is subject to strict regulation, the percentage of executives who prioritize these issues in their strategies is higher than the national average (61%, 41% and 34%, respectively).

Cómo las aseguradoras ofrecen su servicio al cliente a través de las  mensajerías

At a global level, it is striking that less than 60% of respondents say that their company's Board of Directors provides the guidance, supervision and critical control necessary to improve the company's performance in these areas, and only one in three say that their company's compensation model includes compliance with ESG-related indicators and metrics.

Seguros Corporativos

In general, the increased attention to ESG issues by organizations is reflected in investment plans, with one in three respondents (37%) stating that their company will allocate funds to promote these areas. - Aseguradoras pasan de brindar cobertura de riesgos a  prevenirlos

INESE, together with KPMG, is launching the 'Advanced ESG Course for Insurance Companies', now in its second edition, with the aim of making the insurance sector increasingly sustainable. With an eminently practical approach, the course reviews the regulations, explains how the industry can be truly sustainable and how its products can also be sustainable... as well as appearing to be so.


Translated by: A.M