Evaluating Sustainability Reporting Practices in Selected Indian Banks: A Study on Global Reporting Initiative (GRI) Framework

Abstract

Purpose: The study examine the Global Reporting Initiative and the Financial Service Sector Supplement (FSSS) framework of the twenty selected Indian banks.
Design/ Methodology/ Approach: The content analysis utilized to assess the sustainability report score of the selected banks from 2017-2021 through sustainability reports and annual reports of the banks and the sustainability indicators were coded using content analysis techniques. Using the Global Reporting Initiative (GRI) and Financial Service Sector Supplements (FSSS) parameters, a scale for sustainability reporting of selected Indian banks is created based on economic, social, and environmental aspects. In addition, the study used the t-test for independent samples for comparison, which showed that private-sector banks have a higher average score than public-sector banks.
Findings: The results of the study showed that only a small number of banks use and work better in GRI sustainability reporting practices for economic, social, and environmental reporting.
Research Implications: Sustainability reporting should be assessed by regulators, governments and policymakers and banks need to become more transparent in their annual reports as more and more stakeholders become aware of them.
Originality/ Value: Global Reporting Initiative (GRI) reporting framework for Financial Service Sector Supplement (FSSS) is least studied in earlier studies.