Australian Banks Servicing "Bottom of the Pyramid" Markets: A Critical Review of Sustainability Initiatives: Sustainability Initiatives of Banks

By Nicholas Mangos.

Published by The Organization Collection

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Article: Print $US10.00
Article: Electronic $US5.00

The study was motivated by the need to recognise the importance of sustainability reporting practices by Australian Banks as an indication of their commitment to corporate social responsibility. Use was made of the outcomes from “The State of Sustainability Reporting in Australia, 2005” produced by the Australian Government, Department of the Environment and Heritage, together with web site information of the three banks in this study which include: Westpac, Australian and New Zealand Bank (ANZ), and National Australian Bank (NAB). Corporate social responsibility disclosures were used as a measure of the degree to which banks act to support sustainability. The levels of sustainability disclosure and practices will be identified and tabulate. The study helps to examine the importance of sustainability reporting of large Banks in Australia and how positive outcomes from these reports can enhance their reputations. Moreover, do Banks go far enough in providing sustainable solutions for reducing poverty in Fragile States. The question is whether measures of sustainable practices of Banks can be left to the realm of Corporate Social Responsibility initiatives as reflected in their sustainability reporting practices. Do the Banks need to go further and service “Bottom of the Pyramid” (BOP) markets via micro-financing for poverty stricken countries that are also sustainable solutions for reducing poverty in developing countries. This can also extend itself to poverty stricken regions of a population in a developed country.

Keywords: Sustainability, Banking Sector

The International Journal of Knowledge, Culture and Change Management, Volume 7, Issue 1, pp.11-18. Article: Print (Spiral Bound). Article: Electronic (PDF File; 574.541KB).

Dr. Nicholas Mangos

Senior Lecturer, Flinders Business School, Flinders University of South Australia, Adelaide, South Australia, Australia

Senior Lecturer Director of MBA International Business Research into International Business Performance of Service firms Sustainability practices in International Business.

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