SDGs Implementation and Future Recommendations: A Case of Banking Sector in Pakistan

Abstract

Sustainability reporting depicts the corporate sustainability environment. The study conducted on banking sector of Pakistan to examine the reporting and implementation of sustainability by banks operating in Pakistan. Corporate social reports and sustainability reports under the annual reports of banks were analyzed. This is one of the first studies to examine the sustainability reporting by major commercial, premier Islamic and premier agriculture specialized banks in Pakistan. Results reveal that banks working in Pakistan are slower in adopting sustainability practices. Sample selection is based on three fold criteria. Grading scheme is used to evaluate the reporting and implementation of sustainability practices adapt by banks. On the basis on grading scheme analysis, results reveal top five reporting Sustainable Development Goals (SDGs) and bottom five SDGs to take attention of higher management of banks and controlling body of banks which is State Bank of Pakistan. Sustainability practices are directly related to banks operations like energy consumption, sustainable financing, responsible consumption, financial literacy etc. Recommendation section of study provides extensive adoptable recommendations for banking industry to make banking sector as well as world better place. This study contributes to understanding of sustainability reporting and implementation in banking sector of Pakistan.