European Mutual Banks at a Crossroads: Facing Climate Challenges and Traditional Banks
European Mutual Banks at a Crossroads: Facing Climate Challenges and Traditional Banks

Author(s): Sarah Goldman, Maya Jandah
Subject(s): Economy, Business Economy / Management, Energy and Environmental Studies, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: mutual banks; sustainability; governance; climate
Summary/Abstract: Mutual banks hold a unique position in the European financial landscape, rooted in principles of solidarity and democratic governance. Despite their strong local ties and social mission, they face significant challenges in sustainability—particularly in transitioning toward a low-carbon economy. This paper traces the historical evolution of mutual banking, analyzes the reasons behind their lag in decarbonization compared to traditional banks, and offers concrete recommendations to strengthen their climate engagement. The study highlights the sector’s diverse climate performance through comparative analysis and data science tools, emphasizing the need for targeted institutional reforms to accelerate ecological transition.

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