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Eco Voice
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Eco Voice Q & A: Rob Marchiori, Country Lead, Australia at Cognizant.
To provide insights into how the skills shortage is holding back banking sustainability efforts, Tim Langdon, publisher of Eco Voice, had the pleasure of facilitating a Q & A with Rob Marchiori, Country Lead, Australia at Cognizant.
Q1. What does sustainability look like in terms of the banking industry?
Sustainability has shifted to become a fundamental aspect of the banking industry’s identity. In today’s landscape, sustainability isn’t just an option for banks – it’s a necessity. There are two very compelling sides to this sustainability coin. The first is the need to invest in and practice sustainably, and the second being the financial returns this can yield.
Within the banking sector, sustainability presents itself in a number of ways. Institutions are actively funding sustainable projects, deploying ESG (Environmental, Social, and Governance) specialists to guide corporate initiatives, assuming leadership roles in sustainable practices, educating clients on sustainable financial strategies, and transitioning away from reliance on non-renewable energy sources.
Consequently, these very banking institutions are undergoing a behavioural shift, reorienting their priorities to position sustainability at the core of their operations. This shift isn’t merely about meeting regulatory requirements or adhering to societal expectations; it’s a strategic move towards future-proofing the industry and ensuring long-term viability. By embracing sustainability, banks not only fulfill their ethical responsibilities but also tap into new revenue streams, enhance their brand reputation, and fortify their resilience against emerging risks.
In essence, sustainability in the banking industry is no longer an add-on or a superficial gesture – it’s reshaping how banks operate and succeed in an ever-changing economy.
Q2. Why is sustainability important to the banking industry?
Sustainability has become a cornerstone for the banking industry, playing a growing role in its long-term viability, risk management, and societal impact. By integrating ESG factors into operations, banks are better placed to identify and mitigate risks across climate change, green energy, and social inequalities. Being well equipped to finance sustainable initiatives, such as renewable energy projects or green infrastructure development, banks can play a leading role in creating a more resilient and environmentally conscious economy.
Banks, boards and shareholders understand and are seeing the benefit of sustainable practices across their organisations. This is not only due to the societal obligations that are placed on these institutions to be good corporate citizens but also the positive financial impact it has on the bottom line.
As the world grapples with the urgent need to combat climate change and resource depletion, a new breed of business management is emerging, placing sustainability at the centre of business practice. For financial institutions, they now have a key role to play in building a low-carbon economy and a more sustainable future – not just in APAC but across the world.
READ MORE:
https://www.ecovoice.com.au/eco-voice-q-a-rob-marchiori-country-lead-australia-at-cognizant/
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It’s fantastic to see banks embracing sustainability as a core value rather than an afterthought