Abstract

This article investigates the actions of international banks related to climate change adaptation. A theoretical framework was developed to assess bank climate change strategic actions based on five categories: management commitment, emissions reduction, product development, organizational involvement and external relationship development. A sample of international banks from 15 countries in four regions was analysed. Significant differences were found in the level of climate change strategic actions by banks across regions. North American banks had the highest scores on management commitment and product development. Australian banks were the top performers in external relationship development. European banks were ranked first in emissions reduction. Asian banks received the lowest score in all the categories of climate change strategic actions. The research is a unique comparative exploratory study of the strategic actions taken to address climate change in the international banking industry. The theoretical contribution of this article is its link between the theory of organizational adaptation and the climate change actions that banks practice. The research is beneficial for bank executives to develop effective environmental actions that will increase climate change mitigation and adaptation globally but particularly in Asia, which is the critical region for climate change actions.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.