Sustainability reporting disclosure within banking industry in Finland and Sweden
Magdalena, Invokavita Maria (2021)
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021060313787
https://urn.fi/URN:NBN:fi:amk-2021060313787
Tiivistelmä
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Corporate social responsibility (CSR) is a subject that has been around for quite some time and it is being researched by scholars around the world. Corporate social responsibility is about how organization runs its business without hurting the society for the sake of the next generation. CSR is about how companies manages the business processes to produce overall positive impact on society. One of the means for organization to show their economic, environment and social impacts is through sustainable reporting. Organizations utilize sustainability reporting to communicate and to measure their economic, social and governance performance. Commonly organizations adopt GRI Standards framework to guide through the reporting process.
Financial institutions have a major role in sustainability development through their business activities such as investment, funding and lending. Banks that operate within the European union have presented great strength and robustness to adopt changes and to improve their financial system.
Purpose of this research is to analyse extensiveness of sustainability reporting within three banks from Finland and three banks from Sweden. The selected banks from Finland are Nordea bank, OP bank and Aktia bank. Banks from Sweden are Handelsbanken bank, SEB bank and Swedbank. This is a comparative research. The research provides users knowledge of sustainability reporting and how the reporting is being carried out within the analysed banks. The research is trying to find out differences and similarities between the approach to the topic in two countries.
Research method of this study is qualitative secondary research. All sustainability reporting from six analysed banks was collected during the research. Global Reporting Initiative standard disclosures, guidelines and requirements are used as a benchmark. All information needed for this research comes from online sources such as banks’ sustainability reports, annual financial reports and information from banks’ websites.
The result of this research concludes that there are no outstanding dissimilarities between Finnish banks sustainability report disclosures to Swede banks. All the studied banks have reported more social-related disclosures than economic nor environmental.
Corporate social responsibility (CSR) is a subject that has been around for quite some time and it is being researched by scholars around the world. Corporate social responsibility is about how organization runs its business without hurting the society for the sake of the next generation. CSR is about how companies manages the business processes to produce overall positive impact on society. One of the means for organization to show their economic, environment and social impacts is through sustainable reporting. Organizations utilize sustainability reporting to communicate and to measure their economic, social and governance performance. Commonly organizations adopt GRI Standards framework to guide through the reporting process.
Financial institutions have a major role in sustainability development through their business activities such as investment, funding and lending. Banks that operate within the European union have presented great strength and robustness to adopt changes and to improve their financial system.
Purpose of this research is to analyse extensiveness of sustainability reporting within three banks from Finland and three banks from Sweden. The selected banks from Finland are Nordea bank, OP bank and Aktia bank. Banks from Sweden are Handelsbanken bank, SEB bank and Swedbank. This is a comparative research. The research provides users knowledge of sustainability reporting and how the reporting is being carried out within the analysed banks. The research is trying to find out differences and similarities between the approach to the topic in two countries.
Research method of this study is qualitative secondary research. All sustainability reporting from six analysed banks was collected during the research. Global Reporting Initiative standard disclosures, guidelines and requirements are used as a benchmark. All information needed for this research comes from online sources such as banks’ sustainability reports, annual financial reports and information from banks’ websites.
The result of this research concludes that there are no outstanding dissimilarities between Finnish banks sustainability report disclosures to Swede banks. All the studied banks have reported more social-related disclosures than economic nor environmental.