The State of Corporate Sustainability Training in the Financial Sector

Only 5% of institutions managing over $13.1 trillion in assets offer enterprise-wide sustainability training.

MONTREAL, QC / ACCESSWIRE / September 12, 2023 / Advancing the role of sustainability in the financial sector presents a significant operational, cultural, and strategic challenge to numerous financial institutions.

To shed light on how the financial sector is leveraging sustainability training to address this challenge, between July 24th and August 7th, Montreal-based ED4S (Education for Sustainability) carried out a comprehensive sustainability training consultation aimed at the financial sector. The consultation involved thirty-nine sustainability leaders from institutions spread across the globe, representing over $13.1 trillion in assets.

The goal of the consultation was to understand current practices when it comes to sustainability training across various departments of the financial institution. ED4S took a thorough approach, using a 20-question questionnaire to gather structured insights from participants. ED4S also conducted one-on-one consultations, leading to in-depth discussions and a better understanding of the participant's sustainability training perspectives.

The findings revealed a diverse range of sustainability training practices, including different training methods, techniques, and resources.

Key findings

• Close to two-thirds (64%) of those surveyed say that their organizations provide some kind of sustainability training to employees.
• Nearly half of those surveyed (45%) stated that sustainability training should be provided to the whole firm. Interviews conducted with survey participants echoed this sentiment, noting that if a company sees sustainability as a top priority, training should include all staff.
• Foundational sustainability training (85%), climate risks (48%), and ESG integration (37%) were the most prominent sustainability training topics offered to employees.
• Climate change, ESG integration, sustainability risks, and opportunities were the most sought out topics for sustainability training by those surveyed.
• Training was most often provided to portfolio managers (70%), executives (63%), the sustainability team (63%) and analysts (59%).
• Budget and time constraints, lack of sustainability prioritization, and lack of sustainability/ESG expertise were the most cited challenges to sustainability training.

The report also provides examples of best-in-class sustainability training practices and cites the most common sustainability certifications/programs made available to staff within the surveyed financial institutions.

Maria Maisuradze, CEO and Founder of ED4S noted, "The sustainability teams alone do not have sufficient capacity nor a clear blueprint to drive sustainability training in a systematic way at financial firms. At ED4S, we believe effective, learner-focused sustainability training can unite employees from different departments, align them with sustainability goals, and accelerate organizational progress. Through this research, we hope to accelerate and improve sustainability training across the financial sector, both through our own offering and by helping financial institutions identify the best sustainability capacity-building topics and practices".

"I am deeply encouraged by the findings of the report, the fact that two-thirds of the financial institutions surveyed offer a degree of sustainability training speaks to the growing recognition within the financial industry as to the central role of sustainability in value creation, risk mitigation, and opportunity identification," added Nawar Alsaadi, Strategic Advisor to ED4S.

Matt Orsagh, Chief Content Officer at ED4S, reflected, "What stood out from this consultation is the strong desire exhibited by all participants for more comprehensive and impactful sustainability training. The overarching message from this report is abundantly clear - we are merely at the initial stages of an extensive sustainability transformation within the financial sector."

Download a full version of the report HERE.

About ED4S

Since its establishment in 2020, ED4S (Education for Sustainability) has been committed to cultivating sustainability driven culture through accessible, practical, and scalable corporate e-learning solutions. Leveraging credible research and expertise, ED4S offers immersive and customizable programs that encourage sustainability-driven collaboration and innovation across various organizational roles.

For more information, please contact Maria Maisuradze maria@ed4s.org or Matt Orsagh matt@ed4s.org.

SOURCE: ED4S