The banking, financial services and insurance (BFSI) sector has the potential to drive substantial societal impact and change, but it lags behind others in reporting and reducing its supply chain emissions. The Global 800 Carbon Ranking Report shows that only 40% of companies in the industry report complete and verified data on their emissions. This is despite the fact that regulatory requirements for supply chain emissions will soon become mandatory with the introduction of the Corporate Sustainability Reporting Directive (CSRD) in 2023. Financial services companies should prioritize meeting these reporting requirements and reducing their emissions in order to excel in ESG goals. Additionally, there is room for improvement in supporting underrepresented suppliers in the industry.
