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Sustainability Industry Insights – Focus: Financial Services

The banking, investment management and insurance sectors play a pivotal role in transitioning the economy to a decarbonized, circular and sustainable system. The Deloitte studies featured here explore the key issues driving sustainability transformation and offer actionable guidance to support positive change in the market.

We provide continuous monitoring and insights for banks, investment managers, and insurance providers on key regulatory frameworks such as the EU Taxonomy, Sustainable Finance Disclosure Regulation (SFDR), and the Corporate Sustainability Reporting Directive (CSRD). Our expertise extends to the ESG market, strategic developments, and broader trends in climate and sustainability.

We offer valuable insight on turning reporting obligations and climate transition planning into opportunities for value creation. These frameworks help future-proof business models and unlock potential in the growing green economy – benefiting financial institutions while facilitating essential transition finance. In fact, mobilizing capital is crucial for the success of the sustainability transition which is why we engage in collaborative effort with stakeholders from the energy and financial sectors.

The following research is backed by our extensive experience in the banking, investment management and insurance sector, combined with our in-depth knowledge of the evolving regulatory environment and the vast global Deloitte expert network.

Featured Publications

Series: Pathways to decarbonization

The banking sector is instrumental in enabling investment in decarbonization technology and in innovative business models across industries. Viable, sector-specific pathways are shaped by technological, regulatory, and market factors. Deloitte’s global industry experts have analyzed the drivers in this compilation of insights and outlined potential pathways to decarbonization for hard-to-abate and high-impact sectors.

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Compendium: Sustainable finance navigator

This publication provides a repository of all relevant regulations in the area of sustainable finance. It covers the full range of important documents and makes them easily accessible. As well as regulatory publications on initiatives of the EU Action Plan, such as the EU Taxonomy, it includes publications on principles such as the Task Force on Climate-Related Financial Disclosures (TCFD), and the Sustainable Bond Standards and UN Guidelines and Principles.

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Study: Insuring the climate transition

The insurance and wider risk management sector stands at a pivotal point, with numerous opportunities to help business shift towards renewable energy sources and low carbon business models. This report focuses on the role of insurance and sector challenges in helping business manage both new and existing transition risks with a focus on hard-to-abate sectors.

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Study: A spotlight on emerging approaches to bank transition planning

To gain greater insight into transition plan development across the global banking sector, Deloitte and the Institute of International Finance have teamed up to map out the current state of play in this new and evolving area.

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Concept paper: Capital for the energy transition

Following the publication of the joint position paper published by Deloitte, the German Association of Energy and Water Industries (BDEW), and the Association of Local Utilities (VKU), this concept paper specifies how to conceptualize an energy transition fund for Germany.

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Point of View: Private Equity for the Municipal Energy Transition

Decarbonizing the energy supply requires substantial investment in sustainable heating infrastructure. Deloitte’s PoV, Private Equity for the Municipal Energy Transition, explores how federal states and municipalities can leverage private equity and outlines the key framework conditions needed for successful collaboration.

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Study: Insurance CSRD Survey - Status of implementation into the European insurance industry

Deloitte regularly conducts a CSRD maturity benchmark to gauge market trends. The latest edition reveals the state of progress in autumn 2024 and offers valuable insight into how re/insurers are coping with the new CSRD regulation.

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WEB3 Briefing: Financing the Energy Transition – A Boost Through Tokenization

This Deloitte survey of 1,000 consumers revealed strong interest among private savers in investment options tied to energy transition. Tokenization offers a promising way to harness this potential. Individual investors can directly participate in the tokenization of solar and wind energy production facilities, thereby overcoming traditional barriers like high entry costs and complex infrastructure.

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Survey: ESG Risk Management Survey Re/insurance Market Benchmark

ESG risk is changing how re/insurers think about their business strategy and risk appetite. This is accelerated by increasing regulatory expectations for both qualitative and quantitative assessment. This survey provides a market overview and insight into how re/insurers are currently coping with ESG risk assessment and associated challenges.

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Study: Market Study on Principal Adverse Impact Statements.

The study examines the first-time publication of Principal Adverse Impact (PAI) statements in accordance with the Sustainable Finance Disclosure Regulation (SFDR). It uses a combination of quantitative analysis of the statements and interviews with affected companies.

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Blog: Integrating ESG in M&A

ESG is of strategic importance in M&A decisions. Its profile is rising throughout the M&A lifecycle and as a transaction driver. This blog informs on current trends and topics at the intersection of M&A and ESG.

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Webcast series: Sustainable Finance Update

This Deloitte webcast series provides information on new initiatives and regulations in the field of sustainability.

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Sustainability transformation: Drivers and trends

Overview

Financial services play a key role in financing and insuring the real economy’s transition to sustainability. The current focus on climate supports both, a net-zero transition and climate change adaptation, thereby leveraging data insights and financing, as well as insurance and risk management solutions. Nature-related topics, especially biodiversity protection, may also gain relevance for financial services providers in the future.

ESG strategy and net-zero transition planning

ESG Strategy: Financial services enable and support the sustainable transition of the real economy. Investment and client portfolio strategy make up a key part of financial services’ ESG strategy, and financial service companies define targets and strategies for their own operations.

Climate transition planning: Defines realistic decarbonization targets and strategies at portfolio and client level, prioritizes scope and initiatives, and develops tailormade climate transition plans in line with the upcoming Corporate Sustainability Due Diligence Directive (CSDDD). These financial services transition plans must consider the transition plans of clients in their portfolio.

Financing the Green Transition - EU Action Plan

EU Action Plan objectives: Key to the Action Plan for sustainable finance is the reorientation of capital flows towards sustainable investment in order to achieve sustainable and inclusive growth.

Type of financial instruments: A broad range of financial instruments is available: equity, debt, loans, capital market instruments, blended finance, de-risking, etc.

Available incentives: Relevant incentives include tax relief, special depreciation, etc.

Risk and business case: Key topics include price and market risks and expected cash flow.

Measures for de-risking that foster action plan targets: Risk assumption through government guarantees (1st loss tranche/default risk); Carbon Credits for Difference (CCFD)/price guarantees CO2 price; long purchasing agreements; amortization account to distribute startup costs over the term (for green hydrogen).

Risk integration and ESG reporting

Risk integration: Classification of physical and transitory ESG risks into the existing risk classes for better understanding and steering of ESG risk, and for better investment decisions.

ESG reporting: Broad EU sustainable finance regulation (SFDR, EU Taxonomy, CSRD, upcoming CSDDD) defines reporting requirements for material ESG aspects. Key to climate and climate-transition planning is GHG accounting: Gathering data on current emissions of investments and loans (financed emissions), emissions of the insurance portfolio (insurance-associated emissions) and emissions of own operations.

Carbon markets

Trading of carbon credits: Carbon markets play a crucial role in the decarbonization of the economy by providing mechanisms for companies to offset their greenhouse gas emissions. These markets trade in carbon credits, which represent a reduction or removal of one ton of carbon dioxide from the atmosphere. Companies can purchase these credits to compensate for emissions that are difficult to eliminate through operational change.

Benefits of carbon markets: Carbon markets incentivize emission reduction by creating a financial value for carbon savings, thus encouraging companies to invest in cleaner technology and practices. Carbon markets are essential for accelerating the transition to a low-carbon economy because they promote sustainable practices, foster innovation, and provide economic incentives for emission reductions.