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ESG Risk Blind Spots Threaten Financial Sector Resilience
As ESG risks grow more complex, financial institutions face mounting pressure to integrate environmental, social, and governance standards into third-party oversight. In this episode, experts from Aegon UK, EBRD, and the IFC explore practical strategies for assessing supplier ESG compliance, managing geopolitical risk, and aligning due diligence with evolving global standards, offering actionable insights for risk leaders navigating a shifting landscape.
Jul 07, 2025
Merlin Linehan
Merlin Linehan, Risk Manager, EBRD
Mikko Venermo
Mikko Venermo, Lead Financial Officer, Sustainable Finance and Sustainability Reporting, International Finance Corporation (IFC)
Kurt Neilson
Kurt Neilson, Resilience and Supplier Oversight Director, Aegon UK plc
Tags: ESG and Climate Risk Vendor and Third Party Risk
ESG Risk Blind Spots Threaten Financial Sector Resilience
The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization
As ESG becomes a non-negotiable in financial services, institutions must pivot from checkbox compliance to strategic integration. One major takeaway from this episode of Risk Leaders Connect is that ESG risk is no longer confined to niche categories like emissions or child labor. Instead, it's a sprawling and evolving web of material risks, ranging from geopolitical instability and cybersecurity gaps to sub-regional vulnerabilities in global supply chains. Companies must now go deeper and further into the third-party ecosystem, using data-informed frameworks to prioritize risks and responses.Another key insight is the rising tension between resource constraints and growing ESG expectations. With over 600 suppliers, Aegon UK had to get strategic, focusing its efforts on just 50 vendors that represent 88% of
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