Our latest analysis of banks suggests that their broader sustainability commitments can distinguish them from peers, both in their superior financial characteristics and responsible practices. We based the analysis on a comparison of financial institutions in MSCI’s ESG Ratings coverage that were signatories of the U.N. Principles for Responsible Banking (PRB), a global framework that banks use to accelerate a sustainable economic transition, with their non-signatory counterparts within our coverage, as of June 10, 2025.

PRB signatories, for example, paid one percentage point less, on average, for equity and debt capital than non-signatories over nearly a decade ending March 31, 2025, according to our analysis, which adjusts for differences in country, market capitalization and primary business lines.