THE WORLD'S MOST SOCIALLY RESPONSIBLE BANKS 2023

Institutions that take their obligations to people and the environment seriously

- Nancy Cooper

Banking customers around the world are demanding much more from their financial institutions than simply being safe places to keep money. With the growth of the Environmental and Social Corporate Governance (ESG) movement, customers are asking a lot of questions about their banks' corporate policies. Is the bank transparent with its public disclosures? Does the bank use its resources responsibly? Does it treat its customers and employees fairly? Does the bank fight corruption? To help our readers select banks that best align with their own values, Newsweek and global data firm Statista have joined forces to name and rank for the first time "The World's Most Socially Responsible Banks." The 175 rankings are based on a careful analysis of publicly available corporate responsibility data for 750 banks in 35 countries around the world and on a survey of 45,000 bank customers. The U.S. had the most ranked banks with 15, followed by Italy with 13 and Taiwan with 12. Two of the countries in the study (Egypt and Saudi Arabia) had no banks that qualified for the list. We hope that you will find this ranking helpful in making your own decisions about where you bank. Nancy Cooper, Global Editor in Chief

Methodology

The "World's Most Socially Responsible Banks" focuses on the three dimensions of Environmental, Social and Corporate Governance (ESG). The ranking takes a holistic view of corporate responsibility that considers all three pillars of ESG. In total, 175 banks have been identified as the "World's Most Socially Responsible Banks."

The analysis is based on two metrics:

Objective data from key performance indicator (KPI) research (about 30 KPIs from the three pillars of ESG) including KPIs specific to the banking sector.

ESG reputation of a bank from an extensive consumer survey.

The approach does not focus on sustainable investments and social banking.