THE IMPORTANCE OF ESG IN BANKING THROUGH AND AFTER COVID 19 IN N. MACEDONIA
THE IMPORTANCE OF ESG IN BANKING THROUGH AND AFTER COVID 19 IN N. MACEDONIA

Summary/Abstract: Environmental, Social and Governance practices have gained an increasingly high profile in the recent years. The social aspect and it’s increasing role has been amplified in the period of pandemic of COVID-19,with banks playing a critically important role in providing essential support to customers and businesses as well as protecting their staff. The pandemic has highlighted the relevance of existing social challenges: access to health care, financial security, financial inclusion, and issues of social justice and equality. Therefore, the main purpose of this paper is to better understand the role of the banks in performing the ESG activities regarding social aspects, as well as to explore other future challenges and expectations for the banks. The case of Macedonian banks activities during the Covid 19 pandemic and the challenges that they will face in the future is presented as a support of the research. The banks in North Macedonia contributed in a large scale to the social efforts to overcome the problems and challenges imposed by the pandemic.

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