SUSTAINABILITY“ 49 % of global consumers say they would consider switching from their current financial service provider to another bank or financial institution if they had a strong commitment to sustainability. That’ s a number financial institutions can’ t ignore.”
Some institutions are already making the shift. Peter McIntyre, Head of Business Banking at HSBC UK, explains why they implemented ecolytiq’ s solution:“ Creating awareness and understanding of greenhouse gas emissions enables small business owners to take a first step in understanding the potential climate impact of the business expenses paid through their HSBC Kinetic Debit Card, which is why we have launched the Carbon Insights tool.”
While Europe remains a leader in sustainable banking, David has observed increasing adoption in the US and Middle East markets.
He’ s particularly encouraged to see major banks beginning to follow the lead of neobanks and fintechs in embracing climate engagement solutions.
“ We’ re seeing a lot of newer neobanks and fintechs lead the charge here, but now even the biggest tier-one banks are realising the business value of providing sustainable solutions to their customers,” he says.
Ultimately, David believes the solution lies in transforming how the financial sector approaches climate impact:“ We’ re seeing the world talk the talk. Now it’ s time to walk the walk!”
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