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Banks’ Energy Behavior: Impacts of the Disparity in the Quality and Quantity of the Disclosures

Monika Klimontowicz (), Anna Losa-Jonczyk () and Bogna Zacny ()
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Monika Klimontowicz: Department of Banking and Financial Markets, Faculty of Finance, University of Economics in Katowice, ul.1 Maja 50, 40-287 Katowice, Poland
Anna Losa-Jonczyk: Department of Communication Design and Analysis, Faculty of Informatics and Communication, University of Economics in Katowice, ul.1 Maja 50, 40-287 Katowice, Poland
Bogna Zacny: Department of Knowledge Engineering, Faculty of Informatics and Communication, University of Economics in Katowice, ul.1 Maja 50, 40-287 Katowice, Poland

Energies, 2021, vol. 14, issue 21, 1-14

Abstract: Environmental, social, and governance (ESG) factors are becoming increasingly relevant for banks as entities that play an essential role in supporting the development of enterprises, individuals and the whole economy. The paper aims to evaluate the impact of the ESC directive on banks’ energy behavior disclosures, explicitly relating to behaviors towards energy use and its impact on banks’ performance. We developed a methodology to provide the objective characteristic of banks’ energy behavior. In the paper, the banks’ energy behavior (BEB) index is calculated using sixteen indicators, followed by further analysis of its relationship with banks’ performance measured by indexes referring to banks’ characteristics, efficiency, and solvency. Our results are based on an analysis of the disclosures in nonfinancial reports. We find correlations that indicate that banks that are more likely to demonstrate energy behaviors (with a high BEB index) are those that better manage their costs and are more attractive for investors. Further analysis suggests that banks’ energy behavior has no statistically significant correlation with other performance indicators. We find only limited evidence of statistical associations between energy behavior and the net interest margin. We argue that our results contribute to the significant body of literature supporting the role of ESG in active engagement with energy issues.

Keywords: energy behavior; energy disclosures; ESG; GRI; NFRD; banks’ performance; banks’ efficiency; banks’ solvency (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
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