ESG Intelligence – US Banking – Q4 2020
In Q4 2020, individual US bank ESG scores range from a high of +58 (Fifth Third Bank) to a low of -61 (Citi). Fifth Third ranks first, with positive material impact driven by its efforts regarding Financial Inclusion & Capacity Building, including the launch of the Greater Cincinnati COVID-19 Small Business Response and Recovery Initiative.
Other strong performers include TD Bank, Ally Financial, JPMorgan Chase and BofA, with all of these banks seeing positive materiality from their community grants, work in marginalized communities and small business recovery efforts.
Citi is bottom of the competitive set this quarter, dragged down by coverage of issues related to Business Ethics and Data Security, in particular regulatory fines over “longstanding deficiencies” with compliance risk management, data quality management and internal controls.
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