ESG Risks Top the List of Near-Term Concerns for Bank Executives

Risks related to climate change and social issues will intensify the most in the next two years, finance executives predicted in a survey, and firms will have to find ways to cope.

Environmental, social and governance issues topped the list of risk managers’ concerns in a Deloitte poll to be released on Monday, followed by cybersecurity and credit matters. More than half of the 57 firms surveyed were banks while the rest were in insurers, asset managers and other financial-services providers.

“For financial firms, it’s harder to adapt to changes in the ESG environment because it’s not only about ...