Green Behavior: Factors Influencing Behavioral Intention and Actual Environmental Behavior of Employees in the Financial Service Sector

Abstract

The financial sector is a key industry to invest in sustainable products and services, and to help other companies to make sustainable investments. So far, research sheds little light on environmental attitudes and the behavioral patterns of employees in this sector. We investigated what motivation and motivators promote or inhibit “green” behavior among professionals in the financial service industry. A smartphone friendly online survey concerning the intention to improve and show ‘green behavior’ was sent to 1200 professionals working in 17 locations in 13 European countries, 470 of which responded to the survey (39%). From these participants, 20% are convinced of the need to act in a “green” manner, and only 5% are hardly accessible. Monetary benefits combined with social motives contribute to sustainable living, whereas financial benefits alone actually hinder it. The result of this study points to an intention-behavior gap; intention is built from various influences including moderating factors like sex, age and family status influencing individual decisions. It is recommended that we should evaluate the green attitude and behavioral patterns of employees based on a practical typology of “green behavior”, which is suggested in this study, helping companies to know what actions can be taken to close the intention-behavior gap.