European bankers soon will need to show that they are contributing to a cleaner environment, a better society, and good governance. In another sign that ESG is reshaping finance, most of the 20 major European banks recently surveyed by Bloomberg said that they were either working on, or already had, a model that links staff remuneration to a firm’s performance on sustainability metrics.
This comes as European regulators explicitly add ESG risks to pay guidelines, which will be in effect by the end of the year.
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