Our journey towards sustainability

Our clients
Focusing on Financial Services
10
At the core of
modern economies
As an industry that has proved itself successful at delivering
growth in an age of abundance, the FS industry is now faced
with megatrends, such as a changing climate, finite natural
resources, dwindling biodiversity, a digital revolution and an
increasingly urbanized, connected and migrating population.
Financial Services are at the core of modern
economies, ensuring that businesses function
properly and people maintain their livelihoods.
EY assists our clients as they address these
megatrends and strive for sustainable business
models — taking account of economic,
environmental and social factors in their
decision-making.
As FS institutions re-evaluate their long-term
stewardship of both society and our planet,
EY periodically analyzes regional implications
of the macroeconomic environment. Our latest
Eurozone forecast shows that GDP growth is
expected to increase to 1.8% in 2016, from
1.6% in 2015. This is complemented by an
1.8% increase
in Eurozone GDP growth forecast in 2016
expected growth in investment spending (to
1.8%, from 1.3%), consumer spending (to
1.7%, highest since 2007) and employment
(unemployment across the region projected to
drop from 11.6% to 11%). Such growth places
added pressure on supply chains as spending
power shifts to urban areas and consumer
spending on nonessential products begins to
outpace spending on essential items.
Internationally, 2015 was a pivotal year for
sustainable development with two notable
events on the calendar – the 21st annual
Conference of Parties (COP21) and the
Sustainable Development Goals (SDGs) launch.
The financial system underpins growth and development …
[it] must be not only sound and stable, but also sustainable in
the way it enables the transition to a low-carbon, green economy.
Therefore to achieve the sustainable development we want, it will
require a realignment of the financial system with the goals of
sustainable development.
Appendices Our communities Our people Our clients Introduction
United Nations Environment Programme,
Finance Initiative Report (2015)