2022
DOI: 10.4018/978-1-6684-2339-4.ch005
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CSR Programs of Financial Institutions

Abstract: This chapter explores the contrary views on CSR activities of financial institutions by drawing attention to the purported chameleon behavior of banks in promoting various CSR programs, adopting equator principles in lending activity, conducting financial education campaigns to increase the degree of financial inclusion of the population versus the claim about deceptive promotional techniques, practicing abusive contractual clauses in order to maximize profits at the expense of consumers. The chapter is distin… Show more

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Cited by 5 publications
(3 citation statements)
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“…These companies have to discover balanced treatment between the fulfillment of their own financial objectives and the social obligation contributed by these entities to the sustainable development of the economy in which they operate. Additionally, the functioning of all companies in the realities of the present times, characterized by volatility, uncertainty, complexity, and ambiguity (VUCA), requires significant efforts and resources on their part, so that, by collecting an important and comprehensive volume of data, there is the possibility of generating reliable forecasts (Manta et al 2022;Panait et al 2022b;Popescu et al 2022).…”
Section: Discussionmentioning
confidence: 99%
“…These companies have to discover balanced treatment between the fulfillment of their own financial objectives and the social obligation contributed by these entities to the sustainable development of the economy in which they operate. Additionally, the functioning of all companies in the realities of the present times, characterized by volatility, uncertainty, complexity, and ambiguity (VUCA), requires significant efforts and resources on their part, so that, by collecting an important and comprehensive volume of data, there is the possibility of generating reliable forecasts (Manta et al 2022;Panait et al 2022b;Popescu et al 2022).…”
Section: Discussionmentioning
confidence: 99%
“…Furthermore, an additional crucial factor to facilitate such a transition and to achieve a sustainable development is companies' adoption of the Green Finance Framework, which is focused on nonfossil fuels projects, the main segments of which being renewable energy, clean transportation, and pollution prevention and control [46,47]. In this regard, the United Nations Sustainable Development Goals (SDGs) has focused on solving the challenges that contemporary society has faced by involving SDG7, which aims to improve energy sustainability.…”
Section: Other Critical Energy Issuesmentioning
confidence: 99%
“…As such, the demand on businesses to reveal their environmental, social, and governance (ESG) performance as a result of government rules, investors, and stakeholders has influenced on corporate sustainability policies. This has resulted in problems such as the manipulation of companies' ESG performance and the creation of ideas such as "green-washing," "value-washing," and "blue washing," all of which try to win over investors and appease stakeholders [13,14].…”
Section: Introductionmentioning
confidence: 99%