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CR Index 2014: Financial services sector

Companies that participated in the CR Index 2014 in this sector include high street banks, insurance companies and other specialty finance firms.

Key issues

Financial Services companies’ key issues focus on responsible investment and talent management as the key areas for the sector. Supporting youth and future talent is also an emerging issue for this sector.

Strategy & approach

Perhaps not surprisingly given recent years’ dent in public trust, leading financial services are incorporating Corporate Responsibility at the most senior level, and have considered responses to key issues. For example, Corporate Responsibility is seen as key ingredient for leadership and often discussed at board level.

Senior management’s remuneration is increasingly linked to CR through corporate KPIs, although few are able to specify the direct influence.

Companies discuss significant long term investment in rewenables, and emission/ waste targets, although there is little link to sustainable products & services development.

Economic value assessment of non-financial issues tend to be based on the impact of specific programmes on staff retention and engagement, or calculations of input (usually LBG measures) or cost savings achieved through reduced energy use.

What to watch

A remaining challenge for this sector is the extent to which the renewed focus at a senior level is translated into the ethos of the company at middle management and its reputation among its customers and the general public.

Sector leader

 

 

 

 

Read the full report.