Morrow Sodali's study, "Governance of Sustainability in the Largest Global Banks", reveals that 8 out of 10 of the largest financial institutions in Europe and the United States already incorporate ESG (Environmental, Social and Governance) targets and metrics into their senior leadership incentive and compensation strategies.
In an exclusive interview with the news media O Estado de Sao Paulo, Agnes Blanco Querido, Managing Director of Morrow Sodali's operations in Brazil, discusses the research that was conducted by the firm based on interviews and publicly information from the 30 largest institutions in the US and Europe including Santander, Deutsche Bank, BNP Paribas, Lloyds and Barclays from Europe, as well as the American giants JP Morgan, Morgan Stanley, Citi and Goldman Sachs.
According to the study, the material factors incorporated into executive compensation targets are mainly related to environmental and social issues. There is a strong emphasis on climate change and incentives to increase diversity, especially gender, in the composition of boards of directors and senior executive leadership.
Read the full article here (in Portuguese).
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