The AI imperative: Navigating data and AI for ESG success

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Digital Reinvention
29/01/2025Study
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22Jan2025
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Navigating Data and AI for ESG Success

Last year, AWS and Qorus highlighted this potential in their co-authored report, "The AI Imperative: The Future of Frictionless Banking," which revealed that global banks are at a tipping point in adopting AI/ML and generative AI technologies. These advancements are being implemented to enhance customer service, manage risk, optimize processes, and improve overall efficiency. Although much of the innovation has centered around retail banking, ESG is now stepping into the spotlight as a major area of focus.

"The AI Imperative: Navigating Data and AI for ESG Success" delves into this exciting intersection where AI, ML, and generative AI are reshaping how banks tackle ESG challenges. To explore how these advanced technologies can revolutionize ESG efforts, we spoke with top banking leaders who are deeply committed to driving ESG initiatives.

In the following pages, we’ll uncover the latest trends, best practices, and real-world applications of AI technologies, offering a roadmap for the future of ESG, with AWS helping banks embrace this future through cutting-edge, secure AI/ML tools that make ESG efforts faster, smarter, and more impactful, leading to greener banks, happier customers, and a better world.

KEY INSIGHTS

AI Driving ESG Change

Banks are leveraging AI/ML to automate sustainability reporting, manage climate risks, offer green loans, and make sustainable investment decisions, with generative AI bridging data gaps and offering personalized advice to clients on eco-friendly actions.

Challenges to Overcome

Despite AI’s potential, banks face obstacles like fragmented data, outdated IT systems, and a lack of skilled talent, as well as the challenge of turning ESG initiatives into profitable opportunities.

Looking Ahead

To maximize AI’s impact on ESG, banks must prioritize data, foster collaboration, and develop strategies that integrate sustainability into their business models, making it a competitive advantage.

Download the full report

Study contributors

profile picture of Tomas Zimmermann

Tomas Zimmermann

Swedbank

Senior Advisor

profile picture of Fabio Pelati

Fabio Pelati

ILLIMITY GROUP

Head of Investor Relations & Sustainability

profile picture of Georges Hajj

Georges Hajj

Emirates NBD

Senior Director – Sustainable Finance

profile picture of Marc Irubetagoyena

Marc Irubetagoyena

BNP Paribas

Head of Group Stress Testing and Financial Simulations

profile picture of Neil Richardson

Neil Richardson

OneSavings Bank

Chief Sustainability Officer

profile picture of Maxime Druais

Maxime Druais

BPCE Assurances

Head of ESG

profile picture of Mario Cali'

Mario Cali'

Intesa Sanpaolo

Senior Manager - Data Science and Responsible AI

profile picture of Andrea Claudio Cosentini

Andrea Claudio Cosentini

Intesa Sanpaolo

Head of Data Science & AI

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