Aim

The aim of WBA’s financial system transformation is to ensure that the financial system contributes to a more sustainable allocation of resources, and a more accurate representation of risks and opportunities, in line with planetary boundaries and societal conventions. The Financial System Benchmark will assess and rank the 400 most influential financial institutions on their contribution to global goals, such as the SDGS and the Paris Agreement. As such, it will identify behaviours and actions that the financial institutions can take to contribute to sustainability and act as a global accountability mechanism.

Methodology

The methodology outlines the key topics that we will measure in order to assess the 400 globally most influential financial institutions on their readiness for the sustainability transformation ahead.

Following extensive global consultation, including the publication of the scoping report in January 2021 and the review and incorporation of existing standards and frameworks, this report presents the indicators and our approach to scoring and weighting of the measurement areas.

Read Methodology

Milestones

The benchmark will assess 400 leading financial institutions on their contribution to the 2030 Agenda. During 2020, global consultations were conducted to map existing behaviours and assess the practical action possible. In December 2021 we published the methodology, incorporating the feedback received. Data collection, verification, and analysis of the 400 financial institutions in scope will take place in 2022, with the launch of the first benchmark due in Q4 of 2022.

  1. Scoping

    2020

  2. Scoping report

    January 2021

  3. Methodology Development

    2021

  4. Draft Methodology

    June 2021

  5. Methodology report

    December 2021

  6. Data collection and verification

    2022

  7. Baseline benchmark publication

    November 2022

Updates

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Get involved

As we build our work, we continue to engage with stakeholders across the globe through targeted communications with key organisations and representatives. We also encourage meaningful and constructive feedback.

Elli Siapkidou

Research Lead Financial System Transformation

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