Banking on Impact: A Sustainable Future Pays Dividends

Interview series ‘CEO Perspectives in Banking’ – part 2: Sustainability

By Bjorn Cumps

Professor of Financial Services Innovation

30 June 2025

Something is shifting in the DNA of banking. No longer confined to profitability and compliance, financial institutions are being called upon to answer a new, far more existential question: What kind of future are you financing? Sustainability is no longer a separate department or a thematic product line. It’s rapidly becoming the core principle of responsible banking strategy. But how that principle is interpreted varies widely.

In interviews with ten bank CEOs, a portrait emerges of a sector in flux. Their paths differ, but one thing is clear: banks are repositioning themselves not just as gatekeepers of your finance, but as enablers of tomorrow’s sustainable economy. This article defines sustainability in banking not as a moral add-on but as a strategic reframing, touching risk management, innovation, financial inclusion, client engagement, and even banks' very license to operate.

From risk to opportunity: Rethinking credit and capital allocation

Perhaps the most fundamental shift is how banks think about risk. Environmental and social risks are no longer treated as externalities – they are increasingly central to credit decisions, pricing models, and investment strategies. Stefaan Decraene of Rabobank puts it clearly: "You cannot talk about financing agriculture or energy today without talking about sustainability."

Several banks now tie interest rates and lending terms directly to sustainability indicators. ING Belgium and BNP Paribas Fortis offer longer loan maturities or favourable conditions for green renovations, electric vehicle purchases, or energy upgrades. Peter Adams at ING sees this not just as a sustainable practice but as sound economics: lower footprints reduce long-term risk exposure. Michael Anseeuw of BNP Paribas Fortis views sustainability as a transformation on par with digitalisation and argues that, at the macro level, reducing fossil fuel dependency is both a geopolitical and economic imperative. At Belfius, Marc Raisière describes how the bank works closely with businesses to help them adapt to a more sustainable business: “We can do this by extending credit to reduce their CO2 footprint.”

But here too, strategies diverge. Argenta actively targets financing for lower EPC-rated homes, where the real environmental gain can be made. For Peter Devlies, this is not about climate metrics alone, but about equity and access. The highest returns on sustainability don’t come from financing what is already green, but from helping clients move from brown to light green. Similarly, Dirk Wouters of Bank Van Breda advocates for sustainable investments that also make long-term financial sense for clients, such as energy-efficient renovations that preserve or increase property value.

Inclusion as a sustainability mandate

Financial inclusion has emerged as a key pillar of the sustainability strategies of many banks, especially those serving vulnerable or underserved populations. For Leen Van den Neste of vdk bank, inclusion is not a separate goal but an integral part of how sustainability must be delivered. Vdk’s continued investment in local branches and its emphasis on financial literacy aims to ensure that clients of all backgrounds can participate in the green transition.

Inge Ampe of BankB sounds a similar alarm. She warns of a growing societal gap: green products, energy renovations, and eco-investments risk becoming the domain of the privileged. Her bank focuses on offering mortgages and transition support to those typically excluded from the mainstream sustainability narrative. Philippe Voisin of Crelan extends this perspective through his cooperative model, which provides financial services to rural communities and farmers who are often overlooked by large commercial players. The message is clear: access to sustainable finance must be universal, or it risks reinforcing the very social divides it aims to repair.

Banks as sustainability nudgers

As banks grow more active in shaping client behaviour, digital comes into play. Several banks are experimenting with AI nudges, gamification, and digital dashboards that inform or steer customers toward more sustainable behaviour. From suggesting solar panels to rewarding low-carbon purchases, the role of the bank is subtly shifting from service provider to behaviour shaper. Johan Thijs’s “intent thinking” model sees KBC not only offering what customers ask for but also anticipating what they will need, such as sustainable upgrades to homes and mobility. At KBC, every employee is responsible for sustainability. It’s built into the products and digital tools. At Rabobank, the approach is pragmatic: helping farmers and SMEs measure and reduce their environmental footprint with tailored digital tools.

Dirk Wouters of Bank van Breda highlights how sustainability impacts entrepreneurs’ business decisions. “If you have a sustainability policy in place when selling your company, it can impact its price positively,” he says. By preparing clients for future market demands, Bank Van Breda helps them future-proof their assets. There lies the value of sustainability.

Inge Ampe of BankB and Leen Van den Neste of vdk bank take a different approach. Their banks focus on clarity, education, and empowering choice, not algorithmic suggestions like some of the larger banks. Van den Neste’s philosophy is clear: "If you want people to act sustainably, first help them understand how their money flows."

These different approaches raise a profound question: should banks shape choices or merely enable them? The line between empowerment and steering is becoming thinner, especially in an AI-driven digital-first world where algorithms can be as persuasive as advisors.

Digital and AI: The sustainable brain of banking?

Beyond digitalisation, artificial intelligence is emerging as a pivotal force in driving sustainability strategy. For many banks, AI isn’t just about chatbots and automation – it’s the engine behind personalised, data-driven decision-making that can scale sustainable practices across client portfolios and internal operations.

Johan Thijs of KBC illustrates how AI can power proactive, sustainable banking. Through their assistant Kate, KBC doesn’t just respond to questions – it anticipates needs, flags sustainability gaps (such as energy inefficiencies in homes), and nudges clients toward green upgrades. But Thijs is also open about the deeper contradictions beneath the surface. “At a global level, AI consumes enormous amounts of energy,” he warns. While digital tools are vital for green solutions, they leave a footprint of their own. Yet he holds firm to one principle: “Without technology, there’s no solution for today’s climate problems.”

Michael Anseeuw of BNP Paribas Fortis brings a grounded and future-oriented view to AI’s role in sustainability. He sees AI not as a threat or a hype, but as a genuine enabler of both customer empowerment and internal efficiency. For Anseeuw, the value of AI lies in helping employees accomplish tasks they couldn’t easily do on their own – from analysing climate risks to providing timely, tailored advice for clients navigating their energy transition.

Rabobank deploys AI in agricultural tools that help farmers monitor their environmental impact in real time. The bank supports farmers with tools like carbon calculators to measure their CO2 footprints and offers low-margin loans for transitioning to sustainable practices. “We see a shift where digitalisation can be used as a tool to make end users more aware of their behaviour,” Decraene explains.

Belfius is exploring innovative ways to engage customers. One example is their partnership with Alan, a health insurance platform that incorporates gamification into its offerings. Raisière explains: “We are transforming Alan to include gamification elements, encouraging behaviours like biking instead of driving or making healthier food choices.”

But the promise of AI comes with critical caveats. As Peter Devlies of Argenta puts it, the true dilemma isn’t technical, it’s ethical. “Will AI ever be able to create the trust inherent in human relationships?” he asks. His view is a call for restraint and wisdom in deploying AI. Devlies insists that simplicity, transparency, and human warmth must remain the pillars of banking, especially in a world where algorithms could otherwise blur responsibility.

The cooperative edge for the long run

A distinctive voice in the sustainability discussion comes from cooperative banks. Both Crelan and Rabobank highlight the freedom their models give them: no quarterly shareholder pressure, and a mission-driven mandate to invest in long-term societal value. Philippe Voisin of Crelan notes, "We don’t have to report to stock markets. We report to members. That changes the time horizon and the possibilities to act sustainably."

This long-term perspective allows cooperative banks to invest in sustainability projects that may not yield immediate profit but deliver structural impact, from rural inclusion and agricultural resilience to energy transition planning. Rabobank's funding of farmers in Brazil or its Acorn project supporting carbon credit schemes in Africa shows the global reach of this vision. Crelan, meanwhile, supports sustainable farming and continues to invest in ATMs in rural areas, seeing access to finance as a part of its ESG mission.

The limits of regulation and the case for self-governance

Every CEO in this series has strong views on regulation, often agreeing in principle but being frustrated in practice. Many liken EU sustainable finance policy to a good ship with no rudder. The criticism is less about goals and more about tools: box-ticking frameworks, endless reporting obligations, and top-down metrics that ignore local realities.

Peter Devlies of Argenta describes the regulatory burden as "an endless Excel sheet" that adds cost but little value. Voisin compares it to Magellan setting sail without a map. And Raisière is sharply critical of rules that penalise banks for financing clients in transition rather than supporting them.

Yet most leaders acknowledge that voluntary action alone is insufficient. The risk of greenwashing is real. Some form of harmonised, strategic oversight is needed – but it must be informed by practice, not designed in isolation. Several CEOs suggest a model of co-regulation: governments set broad goals, and banks, through industry collaboration, develop the methods.

Banks are also pushing back against being the enforcement arm of climate policy. “Don’t make us the climate police,” they say. Instead, banks want to be partners: funders, educators, inspirers – not judges.

Conclusion: From license to lead

The sustainability agenda is not just about green bonds and ESG disclosures. It’s about reimagining what banks stand for in a world shaken by climate change, digital disruption, and social divides. As the voices of these ten CEOs show, there is no single roadmap to sustainability – only a spectrum of bold strategies. Some banks are leaning into AI and digital ecosystems. Others are doubling down on human connection, inclusion, and community resilience.

What unites them isn’t the tools they use, but the mindset they share: a conviction that finance must serve a societal purpose. The real question isn’t if banks will lead on sustainability – it’s how well, how fast, and for whom. Because in the race against the climate clock, delayed leadership is a missed opportunity.

This article stems from a unique interview series by Bjorn Cumps, Professor of Financial Services Innovation and FinTech at Vlerick Business School. He interviewed ten leading banking CEOs to explore what it really means to be at the helm of a bank in today’s fast-evolving world. From navigating digital transformation and embracing AI, to leading with purpose and driving sustainability, each conversation brings fresh perspectives on the responsibilities and challenges of modern banking leadership. Ten CEOs, ten unique views, and a shared belief that banking is about far more than interest rates. It’s about people, purpose, and progress.