ОТНОСНО УСТОЙЧИВОСТТА (ESG) И РОЛЯТА НА БАНКОВИЯ СЕКТОР ВЪВ ВРЪЗКА С НЕЙНОТО ПОСТИГАНЕ
ON SUSTAINABILITY (ESG) AND THE ROLE OF THE BANKING SECTOR IN ACHIEVING IT

Summary/Abstract: The transition to societies that are environmentally, socially, and governance responsible requires several significant reforms at different levels – micro-, macro-, and global. Unfortunately, the speed at which this is happening at the moment is quite disappointing. Large public interest entities that, at the balance sheet dates, exceed an average of 500 employees during the financial year are the first group of companies that, under the Corporate Sustainability Reporting Directive, are required to prepare sustainability reports for financial years from 1 January 2024 onwards. The banking sector is part of this group of companies. It plays a crucial role in the functioning of the modern economy, as it acts as an intermediary between individuals and legal entities that have excess capital and those that need additional funds. Through the financial intermediation they perform, banks are a trusted intermediary for all parties, ensuring and maintaining economic and financial stability. In addition, they also assist governments in achieving the goals of recent economic policies by directing financial resources to priority sectors. The purpose of this study is to familiarize readers with sustainability, including its individual dimensions, the benefits that reporting on it brings, the crucial role of the banking sector in the climate transition, and the challenges it faces in achieving sustainability. Attention is also paid to the key factors concerning the successful implementation of this transition by banks, together with the actions that they should take to address the challenges related to sustainability. By writing the study, its author sets himself the task of presenting the interdisciplinary nature of the topic under consideration, and the reasons for its growing importance, while at the same time drawing attention to the fact that although banks have a fundamental role in relation to sustainable transition, the importance of the state and enterprises in this direction should not be underestimated.

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