Financial services lags behind in FTSE 100 on ESG committees

54% FTSE 100 boards have ESG committee

Over half (54%) of FTSE 100 companies have an ESG committee at board level, but that number falls to just 13% when looking at non-bank financial services companies, such as insurers, asset managers and retail investment platforms.

New research from Mattison Public Relations from July found that while more than half of FTSE 100 companies have a board-level ESG committee, financial services is the worst performing sector in the index. Meanwhile, the best performing sector were mining and oil and gas companies, which had a 100% adoption of board-level ESG committees. This includes major oil and gas producers like BP and Shell, as well as mining companies such as Glencore and Rio Tinto. This may suggest that board level ESG committees may not be substantially effective, as they are overrepresented among the largest...