ESG in banking : the future of the financial sector

Abstract

Environmental, social, and governance (ESG) factors are topics of increasing interest in companies from Romania. Within the banking sector, there is a growing awareness about integrating ESG initiatives into their strategies. The main objective of this study is to help researchers and business community to better understand the ESG knowledge base in banking research. The financial sector plays an important role in driving economic growth and well-being of society. With growing global concerns over climate change and social inequities, the concept of sustainability has emerged as a critical imperative for businesses across all industries, including the banking sector. This research aims to present the significance of sustainability in banking, exploring its dimensions, consumer perspectives and the reasons why financial institutions should embrace sustainable practices.