KPMG's John McCalla: Financial institutions pivotal in driving meaningful change in ESG

Around 69% of consumers have shown a willingness to pay more for products from ESG brands, said John McCalla, Head—Global ESG at KPMG, while adding that he expects more lending products to finance emissions in the future.

“69% of consumers that we surveyed, said that they would pay more for brands for products whose values and beliefs are consistent with their own. But at the same time, they are struggling right now with costs and an inflationary crisis. So ideally, what we seek to do is support those consumers who not only want to buy and acquire sustainable brands but can also do so at a price that they can afford, and this is good not only in the short term but also in the long term,” McCalla told CNBC-TV18 in an interview.

Regarding the financing of ESG goals, McCalla identified financial institutions as pivotal players in driving meaningful change.