An exploratory study comparing mid-sized U.S. banks' and global banks' sustainability programs

Abstract

This is an exploratory qualitative case study of the state of sustainability programs within a set of 12 mid-sized U.S. banks compared among themselves and then compared to a set of 12 global banks. This research was designed in two phases. Phase one presented the current state of sustainability within mid-sized U.S. banks and global banks based upon each bank's public data as organized into three sections: a bank profile, major strategic initiatives, and bank sustainability initiatives and programs. Phase two data were analyzed from 24 interviews with key executives within each bank. A structured interview format was used, and the interviews were conducted in-person, by phone, or via email depending on the respondent's preference. The research found that the majority of mid-sized U.S. banks had, from a regulatory view point, achieved the broader aspects of sustainability. Mid-sized U.S. banks had not seized the spirit of sustainability by organizing and communicating their efforts in the context of a voluntary formal reporting mechanism. Mid-sized banks generally relied on government compliance reports to communicate their efforts .. It was found that the global banks demonstrated a willingness to embrace the spirit of sustainability past any regulatory requirements, but found their efforts were still in the process of integration within their many business units. It was also found that there is a need for one globally accepted reporting mechanism for sustainability performance