VIDEO: Climate change crisis needs ESG collaboration over competition
Part 2: Corporate ESG progress is seen as a competitive advantage, as consumers and shareholders begin to favour ethical businesses. However the Bank of Ireland’s head of institutional strategy, sustainability and growth, Sean MacHale suggests collaboration should be prioritised over competition, given the magnitude of the climate change crisis.
Businesses that prioritise ESG will reap a range of benefits, not least higher profitability, lower costs and greater efficiency, says MacHale. Rejecting the idea that responsibility for the carbon transition sits solely with big entities, MacHale notes that SMEs are an integral part of our economies and communities, and that the volume of demand for ESG-focused products and services will see SMEs play a leading role in delivering the green transition.
Like many financial institutions, Bank of Ireland has positioned ESG atop its corporate agenda. This has fundamentally changed the way it operates, in terms of how it lends, develops products and engages with its customers. MacHale joined CxO Disruptors host Sandeep Saujani to discuss how the organisation has evolved, with the renewed global focus on ESG.
Click above now to watch part 2 of the interview.