The future of banking or the concept of sustainability in the banking sector
Synopsis
Hungarian commercial banks have been required to publish their sustainability report since 2017. The research topic focuses on the analysis of ESG disclosure at international commercial banks in Hungary based on the data of the annual reports published from 2019 to 2021. This study reports on empirical research using the method of detailed reading and manual coding after reviewing the literature. The concept of sustainability is introduced, focusing on the banking sector and the quality level of disclosures, the changes, and the progress from 2019 to 2021 as the result of the research is discussed. The European Green Deal Investment Plan and the Just Transition Mechanism was announced in January 2020. The effect of the European Green Deal and the opportunity of green investments within the framework to the ESG disclosure quality level are also discussed in the paper.
Keywords: ESG performance, sustainability, sustainable finance, sustainability-related disclosure, bank
JEL Codes: G21, G32, O16
