The Assessment of Economic Performance in the Sustainability Reports of Financial Institutions

Sustainability reporting has gained worldwide importance for corporations over the past decade. This required the development of frameworks and standards for consistent disclosure. Non-financial or triple-bottom-line reporting reveals how firms, in general, incorporate SDGs in their reports and in w...

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Bibliographic Details
Main Author: Katatlin Vargáné Kiss
Format: Article
Language:English
Published: AIDIC Servizi S.r.l. 2023-12-01
Series:Chemical Engineering Transactions
Online Access:https://www.cetjournal.it/index.php/cet/article/view/14375
Description
Summary:Sustainability reporting has gained worldwide importance for corporations over the past decade. This required the development of frameworks and standards for consistent disclosure. Non-financial or triple-bottom-line reporting reveals how firms, in general, incorporate SDGs in their reports and in what way they are assessed in terms of importance. While earlier sustainability issues were an integral part of the CSR activities published in the annual reports, these days, they are issued as separate reports due to the increased attention of stakeholders. Regarding financial institutions, the focus has gradually shifted from profitability issues to responsible investment and sustainable finance. Based on the content analysis of the most recent sustainability reports of the largest commercial banks in Hungary, including also the subsidiaries of foreign parent banks, the paper aims to provide a comprehensive overview of their economic impacts. Comparing the reports based on qualitative content analysis, the paper attempts to illustrate to what extent they comply with the GRI standards, what material topics are given priority in their reporting, and which sustainable development goals (SDGs) enjoy preference. The results obtained underpin the fact that, as opposed to sectors other than finance, sustainability endeavours related to economic growth are at the forefront compared to social and environmental issues.
ISSN:2283-9216