Financial institutions are an integral part of the global economic framework and a key enabler of commodity flows and development which impact WWF’s conservation priorities. In the Indian context sustainability in the financial sector has evolved little beyond corporate social responsibility – much work is needed to convince banks that sustainability can offer improved risk management, stronger revenues, reduced cost and brand enhancement.
WWF-India’s approach to the financial sector follows two main tracks: engagement with individual banks to promote more sustainable business practices; and influencing industry-wide change through improved regulatory frameworks.
WWF-India plays to its key strengths in water stewardship, climate change, smart infrastructure and commodities when engaging financial institutions. The focus is on building the business case for change and bringing international best practice to the local market. The Reserve Bank of India is a key player in setting industry wide regulation and will be critical to driving industry-wide change.