THE STRATEGIC IMPORTANCE OF CORPORATE RESPONSIBILITY AND SUSTAINABILITY IN BANKING

Dragan Oana Raluca
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Dragan Oana Raluca: Babes–Bolyai University, Cluj Napoca, Faculty of Economics and Business Administration, Romania

Annals - Economy Series, 2013, vol. 1, 193-199

Abstract: The paper aims to highlight the strategic implication of corporate social responsibility (CSR) and sustainable development for the banking sector. A few years ago, banks did not give much importance to the social and environmental problems. Recently, the banks began to realize the major impact of the sustainable development over the way of ulterior development of the society and, implicitly over the banking system. In this context, the development of a bank management system based on sustainable principles is one of the current challenges. For this purpose this paper focuses on issues such as the importance and advantages of implementing sustainability bank management, international standards regarding sustainable banking management such as: Equator Principles for sustainable investment projects’ financing or GRI principles for sustainable reporting. In addition, we have developed a practical case study about the implementation of sustainable banking management; the case study presents Romanian Commercial Bank as an example of good practice in the Romanian banking sector.

Keywords: sustainable banking management; environmental and social risks; Equator Principles; GRI Principles (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2013:v:1:p:193-199

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