Can Banking Be Ethical? I Yannick Jung, Philippe Oddo, Alexander von zur Mhlen

The discussion revolves around the ethical aspects of banking, with a focus on creating jobs, managing risks, and facilitating access to capital for clients. The participants emphasize the importance of establishing a moral compass within the organization, cascading from the top management. They also highlight the need for a robust code of conduct, ethical decision-making processes, and ESG assessments for corporate clients. Additionally, the conversation touches on the cultural differences within organizations and the imperative of trust in the banking system. The participants stress the significance of ethical banking in the context of the energy transition and the need for investment in low carbon energy sources. The discussion also addresses the role of regulations, incentives for supporting the low carbon economy, and the importance of creating a culture of ethical behavior within banking institutions.