While some trends may come and go in life, others only gather strength as time goes on, shapeshifting to adapt to and survive in the changing environment. Fads like fidget spinners fade into nostalgia, although some crazes, such as social media, seem to take root in daily life — even if the channel du jour has evolved from MySpace to Facebook to Instagram.

ESG belongs firmly in the latter camp. It is here to stay, and rightly so, and is only set to become more important in the years ahead. ESG considerations are now a key pillar for businesses across banking and finance, having experienced phenomenal growth in recent years. Goldman Sachs has announced that it would spend $750 billion (€640 billion) on sustainable finance over the next decade, while Bank of America has pledged $300 billion (€256 billion) to sustainable investments. Indeed, the global issuances of sustainable debt, including green bonds and sustainability-linked loans, spiked 78 percent in 2019 t