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More than 75% of UK finance firms say Covid-19 will ‘supercharge’ ESG

The poll canvassed 18 banks, 14 asset managers and 5 insurers, representing a total of almost £30tn in assets

The recovery from the coronavirus crisis will “supercharge” the sustainable finance agenda at UK financial services firms, a survey from EY has revealed.

The 23 July poll found that 76% of UK financial companies believe goals around climate change, societal values and governance should be integrated into the stimulus package designed to help the economy recover from the pandemic. The 37 senior managers canvassed by EY said the current economic programmes offered by governments should include “build back better" goals,  which focus on integrating new policies that try to improve society, as different countries start to rebuild their economies following the devastating impacts of the coronavirus.  The managers also said that ESG requirements should be embedded into the stimulus packages and should act as part of the criteria to receive the funds.

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