Strategies Influencing Corporate Social Responsibility Programs for Climate Change in Commercial Banks in Kenya

Abstract

High cost in pursuit of the strategies that influence Corporate Social Responsibility (CSR) is increasingly compatible with improving environment for climate change. The benefits of adopting CSR can have significant advantages for both shareholders and the environment, particularly when undertaken voluntarily. But another factor in favor of CSR is the oblique pressures brought to bear from a sense of moral obligation, a more ethical approach, sweeping into boardrooms. The study examined the strategies that influence Corporate Social Responsibility programs in Commercial Banks in Kenya. Specific focus was placed on physical environment and stakeholder's participation as dimensions of strategies that influence CSR programs for climate change. The study adopted descriptive and cross-sectional survey design as it is suitable for obtaining systematically factual information for decision making, identify the current practices, conditions and opinions at a specified point in time. The target population was 43 Commercial Banks and the total sample size of 36 target respondents comprising of 18 corporate affairs managers and 18 CSR officers. The research made use of self- administered structured questionnaire for data collection. The data collected was edited, coded, classified, and tabulated to make it amenable to analysis. The response rate in this study was eighty three percent which was considered sufficient for making inferences and drawing conclusions. Quantitative data was analyzed using descriptive and inferential statistics. Descriptive statistics encompassed percentages, frequencies, means, and standard deviations. However, multiple regression analysis was used for making inferences and drawing conclusion. The study established that physical environment and stakeholder's participation have positive influence on corporate social responsibility for climate change. Corporate affairs managers and CSR officers should formulate policies on physical environment and stakeholder's participation that would enable Commercial Bank to enhance competitive advantage through CSR programs.