The Strategic Connotations of Corporate Social Responsibility on the Dissertation

The Strategic Connotations of Corporate Social Responsibility on the Performance and Sustainability of UK Banks - Dissertation Example This report declare that Corporate Social Responsibility has become an indispensable element amongst the current day business organizations. Over and above enhancing their operational and financial performances, it had become obligatory for the organizations to concentrate in the same way on social aspects such as, biodiversity, dearth of food and water, weather change, environmental safety, and poverty etc. This is owing to the fact that the various groups of stakeholders are keen to know how the business houses contribute to the overall society and lend a hand in the development of a sustainable planet, rather than concentrating merely on their business activities. This discusion explores that banks, amongst all the financial services organizations, have become increasingly proactive about corporate social responsibility activities owing to the pressures from the society as well as the government and other regulatory bodies. There are number of industry initiatives that endorse sustainable activities among banks, namely, Equator Principles, United Nations Environment Programme Finance Initiative, London Principles etc. These initiatives have been formulated to offer guiding principles and framework for banks to take up lending policies that are socially as well as environmentally sound. However, there are number of aspects that have been continuously discussed amongst researchers. These include, to what degree these initiatives have impacted the operations of the banks, what are the issues that impel the banks to pursue and take on these initiatives, whether these initiatives are only meant to guarantee long term success and improvement of bran d name and do not have much to do with participation in sustainable development. Thus, this would be appealing to evaluate how the social responsibility issues and initiatives influence the CSR activities of banks and how do these initiatives contribute to the accomplishment of the bank’s strategic goals and above all to its overall sustainable development. Research Objective The chief objective of this research is to identify the aspects of reaction of the UK based Banks to matters pertaining to sustainability by endowing with a clear comprehension of the present activities of the banking industry in terms of sustainability. To be specific, this research study would attempt to illustrate the sustainability issues that the banking industry is UK is encountering, assess the condition of the sustainable banking plans at the banking industry or organization levels of UK. The study would also evaluate the function of different stakeholders and their impact on sustainable banking in addition to assessing the impelling factors as well as the difficulties of sustainable banking in the UK banking industry. The research study wo