SA Financial Services ESG – H1 2021
In alva’s analysis of the Financial Services ESG landscape, prior to the July civil unrest, firms excel in social and environmental domestic commitments, but struggle in governance.
Scores range from Momentum Metropolitan in first place at +50 to FirstRand with a score of -64, with the latter heavily weighed by Business Ethics criticism related to claims that the bank unfairly discriminates with interest rates on mortgage loans. Momentum leads buoyed by issues related to Human Rights & Community Relations and Customer Welfare, as it argues that financial literacy should be a human right and adopts Binah.AI technology to help clients monitor their health data in real time.
With 11 out of 12 firms achieving positive ESG scores in H1, the focus is now very much on how perceptions have changed based on the different responses to the unrest and which have emerged with stronger ESG credentials as a result?
Download the full report here.