ESG industry insights: Banking & capital markets

With ESG top of mind for many companies, we’re continuing our podcast series looking at how the current and future reporting landscape may impact individual industries. This week, guest host Casey Herman, PwC’s US ESG leader, was joined by PwC partners Brittany Schmidt and David Challen to discuss the current state of climate and ESG reporting in the banking and capital markets industry, the related challenges, and how to best prepare to address them. In this episode, our guests discuss:1:37 - Why the banking and capital markets industry has been at the forefront of voluntary ESG reporting6:41 - Industry themes in responses to the SEC’s climate proposal14:37 - Key requirements of the SEC’s proposal and difficulties financial services companies may face addressing them20:39 - How financial services companies are thinking about the proposed scope 3 disclosure requirements29:39 - Forward-looking disclosure requirements and how to prepare for the proposal’s implementation35:51 - Final thoughts on the proposed disclosure requirementsListen to our previous podcast that provides insights into the ESG disclosures that matter to investors. Also refer to the text or audio version of our In the loop, The SEC wants me to disclose what? Brittany Schmidt is a partner in PwC’s financial services consulting practice with over 15 years of experience helping banks and other financial services clients navigate the rapid pace of change in the regulatory and business landscape. Brittany is a firm-designated ESG champion for the financial services sector. David Challen is a partner in PwC’s banking and capital markets Trust Solutions practice with over 15 years of industry experience. He has worked with clients ranging from large, multinational banking institutions to broker-dealers and asset management advisors and funds. David is a firm-designated ESG champion for the financial services sector. Casey Herman is PwC’s US ESG Leader. Casey has over 35 years of experience leading and working on the audits of many significant, complex clients and is a member of the Edison Electric Institute's Wall Street Advisory Group, the Electric Power Research Institutes Advisory Council, and the NYU Stern Business School Center for Sustainable Business Advisory Council. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].