KW Bank is a large bank that made a commitment to sustainability, putting it at the heart
Question:
KW Bank is a large bank that made a commitment to sustainability, putting it at the heart of its strategy. It has announced that its lending decisions would be in line with the targets of the Paris Agreement on Climate Change.
However, in 2019, KW Bank approved a huge bank loan to the oil companies, financing a controversial project. The project attempted to build dangerous pipelines across North America which can threaten the indigenous people, harm the wildlife, pollute drinking water, and aggravate global warming.
When the decision was released, KW Bank was heavily criticized by some external governance actors such as analysts, journalists, environmentalists, and government regulators.
Required:
Identify 1 stakeholder who would benefit from KW Bank’s approval of the bank loan, and 1 stakeholder who would be harmed by this decision.
Choose 2 external governance actors among analysts, journalists, environmentalists, and regulators to briefly explain in what ways these 2 actors can monitor KW Bank to adhere to its commitment to sustainability.
