After several revelations about involvement in suspected money laundering, analyst companies are reviewing their sustainability ranking for Swedish banks.
“Our rating of Swedbank and Nordea already reflects our low confidence in the companies’ ability to manage ethical risks,” writes Fouad Benseddik, head of the French analyst firm Vigeo Eiris.
The Dutch Sustainalytics, which carries out ESG analyses (Environmental, social and governance), is also currently reviewing Swedish banks after recent reports.
Fouad Benseddik also writes that the revelations show that the banks have been exposed to significant risks financially, legally and in terms of reputation. Vigeo Eiris must inform customers that the banks have not yet been shown to be guilty.
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