ESG in the banking sector - CSSF survey on sustainable finance
The survey was commissioned by the CSSF, the Fondation ABBL pour l’éducation financière and the Luxembourg Sustainable Finance Initiative, and was conducted by ILRES, using a sample of 1,011 Luxembourg residents.
The main objective of the survey was to assess the general public’s knowledge and understanding of sustainable finance and gauge the degree of interest in the subject.
The survey concludes that, whilst the general public believes that the financial sector can have a positive impact on sustainability, there are still knowledge gaps in the public’s understanding of the relevant terminology and the details of the functioning of sustainable finance products.
The survey emphasized the importance of educational action and the primary role that banks and financial advisors may play therein. Survey participants generally consider financial professionals as a source of both reference information and trust, which, according to the ABBL, is both encouraging and challenging, since “expectations vis-à-vis bank advisors are significant and they bear major responsibility with regard to the development of sustainable finance”.
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