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Implementation of ESG Governance within banks: a BNP Paribas Fortis case study.

Palante, Alexandre
(2023)

Files

Palante_37441600_2023.pdf
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Details

Supervisors
Olieslagers, Ruben
Faculty
Louvain School of Management
Degree label
Master [120] : ingénieur de gestion, à finalité spécialisée
Abstract
In an era defined by the urgent need to address climate change and foster sustainable practices, the banking industry stands at the forefront of the transformative journey required by the European Green Deal (EGD). This Project Master’s thesis aims to discuss the complex landscape of Environmental, Social, and Governance (ESG) principles within the banking sector. More specifically, the implementation of its governance. Through a thorough review of the current literature, the fundamental causes of climate change are explored and the diverse targets set to mitigate its impact are evaluated. Unveiling the initiatives undertaken to achieve these targets and the expectations of regulators and supervisors, the author delves deep into the integral role of sustainability in the strategies and reporting of financial institutions. Furthermore, the project study offers unique experiential observations drawn from a 5-months internship at BNP Paribas Fortis, a major actor within the Belgian banking industry. These firsthand insights provide an invaluable understanding of the real-world application of ESG governance within a banking institution. The heart of this project study lies in Chapter 5, where meticulous analysis and discussions take place. Drawing from the literature review, the internship experience, and conversations with ten industry experts, six distinct challenges emerge, each serving as a gateway to innovative solutions. Every challenge discovered– and tackled in Chapter 4 – will then be analyzed and discussed in the Chapter 5. See figure 1 below. Through a methodical approach and rigorous analysis, the researcher present proposed remedial strategies and recommendations, suggesting a clear path toward a more sustainable future. As the final chapter draws to a close, the study provides a profound reflection on the far-reaching implications of ESG governance and sustainability within the banking industry. Alongside the author's insights into the study's scope and potential limitations, the researcher present thought-provoking suggestions for future studies.