Strategic ESG Integration and Sustainability Reporting in the Greek Banking Sector: A Comparative Assessment

Stavros Garefalakis, Maria Katsougri, Erasmia Angelaki, Konstantinos Spinthiropoulos and Alexandros Garefalakis ()
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Stavros Garefalakis: Department of Management Science and Technology, University of Western Macedonia, GR-501 00 Kozani, Greece
Maria Katsougri: Department of Business Administration and Tourism, Hellenic Mediterranean University, GR-714 10 Iraklio, Greece
Erasmia Angelaki: Department of Business Administration and Tourism, Hellenic Mediterranean University, GR-714 10 Iraklio, Greece
Konstantinos Spinthiropoulos: Department of Management Science and Technology, University of Western Macedonia, GR-501 00 Kozani, Greece
Alexandros Garefalakis: Department of Business Administration and Tourism, Hellenic Mediterranean University, GR-714 10 Iraklio, Greece

Administrative Sciences, 2025, vol. 15, issue 10, 1-29

Abstract: This study investigates the integration of ESG principles in the Greek banking sector through a comparative analysis of the four systemic banks—National Bank of Greece, Eurobank, Piraeus Bank, and Alpha Bank—during 2019–2023. Using a qualitative approach based on secondary data, including sustainability reports, GRI-aligned indicators, and the ATHEX ESG Index, the research evaluates ESG performance across governance, environmental, and social dimensions. Findings highlight disparities in maturity: Eurobank and Alpha Bank demonstrate more advanced and transparent governance and environmental practices, while social indicators remain inconsistently reported. The ATHEX ESG Index is shown to enhance disclosure, though its methodology poses challenges for data quality and comparability. Results suggest that effective ESG integration strengthens resilience, transparency, and long-term competitiveness within the banking sector. However, greater standardization and innovative approaches are needed for Greek banks to align fully with international sustainability frameworks and the UN Sustainable Development Goals.

Keywords: ESG integration; sustainability reporting; corporate governance; Greek banking sector; environmental disclosure; strategic management; KPIs (search for similar items in EconPapers)
JEL-codes: L M M0 M1 M10 M11 M12 M14 M15 M16 (search for similar items in EconPapers)
Date: 2025
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