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Is Green Regulation Effective or a Failure: Comparative Analysis between Bangladesh Bank (BB) Green Guidelines and Global Reporting Initiative Guidelines

Md. Abdul Kaium Masud (), Mohammad Sharif Hossain () and Jong Dae Kim ()
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Md. Abdul Kaium Masud: Department of Sustainability Management, Inha University, Incheon 22212, Korea
Mohammad Sharif Hossain: School of Business, Uttara University, Dhaka 1230, Bangladesh
Jong Dae Kim: College of Business Administration, Inha University, Incheon 22212, Korea

Sustainability, 2018, vol. 10, issue 4, 1-19

Abstract: Green reporting and green regulation have been commonly used in the sustainability movement. This study evaluates Bangladesh Bank’s (BB’s) green regulation by considering the global reporting initiative (GRI) of environmental regulation along with self-determined content to justify BB’s institutional effort in the banking sector. The analytical study has considered secondary data of all listed banks on the Dhaka Stock Exchange between 2013 to 2016. A multi-theoretical framework has been adopted in which the research is comprised of institutional, stakeholder, and legitimacy theories. Considering the analytical research, we have drawn-up a green reporting score and undertaken SWOT analysis. The results of the study have identified the narrow coverage of BB’s regulation and strategic limitations. Moreover, the findings of the study show that banking companies disclosed more green information in line with BB’s regulation. Furthermore, our analysis has found the lack of transparency of green reporting in terms of absent global reporting as well as external verification. Additionally, we have documented that BB’s regulation falls into a legitimacy threat owing to political, corporate, and social responsibility. Therefore, we concluded that for BB to overcome all possible weaknesses and threats, it should consider all possible opportunities for a holistic international reporting framework while taking into account a transparent financial sector.

Keywords: green reporting; green banking; GRI; CSR; developing country; Bangladesh bank; SWOT (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2018
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