The Covid-19 pandemic underlined the importance of financial system resilience. Banks around the world recognise they have a key role to play in the transition to a sustainable future aligned with the objectives of the United Nations’ Sustainable Development Goals and the Paris Agreement.
Financial institutions increasingly recognise that climate change and other environmental, social and corporate governance risks jeopardise the world’s economy and financial system.
Our third benchmark study of responsible banking practices takes a closer look at evolving best practices and developing trends in managing climate change risk and broader social and governance issues. Building on Mazars’ previous report: “Responsible banking practices, Benchmark study 2020”, our latest study identifies how banks are taking collective responsibility to create the new foundations of a sustainable financial industry and contribute to building healthier economies.
We segmented 37 banks – the largest, by total assets, in their respective geographies – into four categories: outstanding, leaders, supporters, and followers. It is encouraging to see more banks rank as leaders compared to the last benchmark’s findings, achieving a positive score between 80% and 95%, despite the tightening of our assessment criteria to reflect the improvement of the practice and requirements.
However, many challenges remain. There is still room for improvement, especially in regions where industry guidelines and ESG-related regulations are lacking. In effect, strong sustainability practices often come hand-in-hand with consistent industry and legal incentives.
On 24 March 2025, the Central Bank of Ireland (CBI) concluded its review of the Consumer Protection Code 2012 (CPC 2012). Following this update, the CNI has published a number of updates.
This article delves into the main components of the application form, highlighting the key areas that applicants must address to gain authorisation.
This article explores the key aspects of the Internal Capital Adequacy Assessment Process (ICAAP) for MiFID investment firms, as outlined in the Investment Firm Regulation (IFR) (EU) 2019/2033.
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Forvis Mazars actuarial consultants have in-depth knowledge and experience of the challenges and opportunities in the Irish insurance market.
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In 2013, the Central Bank of Ireland (CBI) obtained statutory powers to instruct regulated financial services providers to appoint a third party or ‘skilled person’ to prepare a report in respect of any regulatory matter directed by CBI.
How different countries mitigate climate risks in their financial
Sustainability and ESG must be at the heart of every organisation's business model
