TECH BUYER May 2021 - IDC Perspective - Doc # AP46522521

Sustainability in Asia/Pacific Banking: Sustainability Matters, But This Is What Matters Here and Now

By: Michael AranetaAssociate Vice President, IDC Financial Insights, Frankie Phua

Abstract

This IDC Perspective is the first in a series of reports on sustainability in Asia/Pacific banking. This report focuses on how banks must align with the many regulatory compliance mandates and industry frameworks on sustainability. It is, however, in lending that banks show the most significant and immediate impact on addressing their sustainability agenda.

"Banks must determine what exactly they are doing in terms of sustainability, keeping to the regulatory compliance mandates in the market they operate in, but also keeping to the frameworks that might be set in the short term. Sustainability can become an easy buzzword to fall back on. Greenwashing is a commonly stated peril. Having a clear set of goals and measurements toward sustainability avoids exactly that," says Michael Araneta, AVP, IDC Financial Insights Asia/Pacific.


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