Commitment to sustainability in large European banks and its relationship with board gender diversity: a 2030 Agenda perspective

Abstract

AbstractEnsuring a sustainable future by meeting the Sustainable Development Goals (SDGs) cannot be achieved without women's empowerment and gender equality. This study aims to determine whether there are differences between European banks in terms of their commitment to SDGs and the intensity of this commitment depending on their board gender diversity. A sample of the 50 largest European banks from 2016 to 2020 was used to perform hypothesis testing for differences in means. The results provide robust support for the assertion that banks with greater female representation on the board of directors have a greater commitment to the 2030 Agenda. The originality of this research lies in the use of indicators of commitment to SDGs corresponding to each of the five SDG pillars. This study thus provides the first evidence of the importance of distinguishing between these pillars when examining the relationship between commitment to SDGs and board gender diversity. This evidence advances the scant literature on this relationship.