The 10 most sustainable banks in the world in 2023
Sustainable banking refers to financial institutions that prioritize environmental, social and governance (ESG) factors in their operations and investments. Here is a list of some of the best sustainable banks in the world, based on various sustainability rankings and ratings.
Triodos Bank is a sustainable banking institution based in the Netherlands. It was founded in 1980 and operates in several countries across Europe, offering personal and business banking services. Triodos Bank is known for its focus on ethical and sustainable finance, investment in projects and organizations that have a positive social, environmental and cultural impact. This includes, among other things, funds for renewable energy, organic food production and fair trade.
Nordea is a leading financial group with headquarters in Helsinki, Finland. It was founded in 2003 and is one of the largest banks in the Nordics and Baltics. Nordea offers a range of banking and financial services, including private customers, corporate banking, asset management and insurance, among others. The bank operates in several countries across the Nordics and Europe and serves over 11 million customers. Nordea is known for its strong focus on digital innovation and sustainability and has a reputation for offering high-quality financial services and products to its customers.
Rabobank is a Dutch multinational banking and finance company. It was founded in 1898 and is headquartered in Utrecht, the Netherlands. Rabobank operates as a cooperative and offers a wide range of banking services to individuals, small businesses and large corporations. These services include retail banking, commercial banking, asset management and insurance. The bank is known for its focus on sustainability and ethical banking practices and has a strong reputation for serving the needs of rural and agricultural communities. Rabobank operates in several countries across Europe and has a significant presence in the Netherlands and Belgium.
BNP Paribas is a French multinational bank and finance company. It was founded in 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas. BNP Paribas is headquartered in Paris and is one of the largest banks in the world in terms of assets. The bank offers a wide range of financial services, including private banking, corporate and investment banking, asset management and insurance. BNP Paribas operates in over 70 countries worldwide and serves clients in several markets, including Europe, Asia and North America. The bank has a reputation for its expertise in investment banking and its focus on sustainability and social responsibility.
Crédit Agricole is a French multinational bank and finance company. It was founded in 1894 and is headquartered in Montrouge, France. Crédit Agricole is one of the largest banking groups in France and one of the largest retail banking networks in Europe. The bank offers a wide range of financial services, including private banking, corporate and investment banking, asset management and insurance, among others. Crédit Agricole is known for its strong presence on the French market and its focus on sustainability and social responsibility. The bank has a significant international presence, operating in over 50 countries across Europe, Asia and America.
DBS Bank (Singapore) is a leading banking and financial services group based in Singapore. It was established in 1968 and is headquartered in Marina Bay, Singapore. DBS Bank is the largest bank in Southeast Asia by assets and offers a comprehensive range of banking and financial services, including retail banking, wealth management, corporate banking and investment banking, among others. The bank has a strong digital presence and is known for its focus on innovation and sustainability. DBS Bank operates in several markets in Asia, including Singapore, Hong Kong, China, Taiwan and India, serving a diverse range of customers, from individuals and small businesses to large corporations. The bank has a reputation for delivering high-quality financial services and for being a leader in sustainability and social responsibility initiatives in the region.
Swedbank is a leading Nordic-Baltic banking and financial group based in Sweden. It was founded in 1820 and is headquartered in Stockholm. Swedbank offers a comprehensive range of financial services, including private clients, wealth management, corporate banking and investment banking, among others. The bank serves more than 7 million customers in Sweden, Estonia, Latvia and Lithuania. Swedbank is known for its strong digital presence and its focus on sustainability and social responsibility. The bank has a reputation for delivering high-quality financial services and for being a reliable partner for its customers in the Nordic-Baltic region.
Standard Chartered Bank UK is committed to sustainable banking practices, which aim to balance financial performance with positive social and environmental impact. The bank has set sustainability targets, such as reducing carbon emissions, financing projects for renewable energy and promoting diversity and inclusion. Standard Chartered also offers sustainable financing solutions, such as green bonds and impact investment products, to help clients transition to a low-carbon economy. In addition, the bank conducts sustainability risk assessments for its lending activities and works with customers to integrate sustainability considerations into their business strategies.
ING Bank is a leading financial institution that places sustainability at the center of its strategy. The bank’s approach to sustainable banking is centered on three pillars: reducing its own environmental footprint, financing sustainable economic activities and promoting a sustainable culture.
When it comes to reducing its own environmental impact, ING Bank has set ambitious goals to reduce its greenhouse gas emissions, promote energy efficiency and transition to a more sustainable workplace. In order to finance sustainable economic activities, ING Bank offers a range of sustainable financing solutions, including green bonds and loans, as well as advice and support to customers who want to transition to a low-carbon economy.
In addition to its practical actions, ING Bank also promotes a culture of sustainability by engaging with employees, customers and stakeholders on sustainability issues and encouraging sustainability-focused innovation. The bank also regularly publishes sustainability reports to provide transparency about performance and progress towards sustainability goals.
KfW is a German development bank known for its focus on sustainable finance. KfW provides funding and support for a wide range of projects that promote sustainable development in Germany and around the world.
When it comes to sustainable economics, KfW offers a range of products and services designed to promote environmental and social sustainability. This includes financing of renewable energy projects, energy efficiency measures and sustainable transport, as well as programs to support sustainable urban development, biodiversity conservation and climate adaptation.
KfW also has a strong commitment to transparency and accountability in its sustainability practices. The bank regularly publishes sustainability reports that provide detailed information on the bank’s results in areas such as carbon emissions, resource use and stakeholder engagement.
Overall, KfW’s focus on sustainable finance has made it a leader in promoting environmental and social sustainability in the German and global financial sector.
Editor’s note: The entries on this list are not ranked in order of products, services or size of customer bases, but are (at the time of publication) the current leaders globally in sustainable banking practices. They can also be changed. Different organizations may have different criteria and methods for determining sustainability. In addition, sustainability is an area of constant development, and financial institutions are continuously improving their practices.
