Work

Circular Economy Outcomes in Banks: The Role of Environmental Strategy, Women, and the Sustainability Committee

Year: 2025

Type: article

Abstract: ABSTRACT The study investigates how environmental strategies, board gender diversity, and CSR committees affect the circular economy performance in the banking sector. For the first time, we focus on three specific reduction goals: GHG emission reduction, e‐waste reduction, and offering products to reduce the negative environmental impact. Using a sample of 671 listed worldwide banks from 63 countries in 2010–2021, we demonstrate that green strategies and CSR committees positively affect all three circular economy targets. However, board gender diversity positively impacts bank emission reduction and green products offered but does not influence e‐waste reduction. Furthermore, the presence of the CSR committee significantly improves the effectiveness of environmental strategies adopted by banks in achieving their circular economy performance. The 2015 Paris Agreement on climate change proves to be effective in enhancing bank circular economy reduction outcomes.

Source: Business Strategy and the Environment

DOI: 10.1002/bse.4197

Authors: Evita Allodi, Maria Gaia Soana

Institution: University of Parma

Language: English

Topic: Corporate Social Responsibility Reporting

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Responsible consumption and production, Climate action

Open Access status: hybrid

Estimated APC paid: $4,480