Sustainability report of financial services industry in SAARC countries: special reference to Bangladesh

Abstract

Global warming and climate change have become important considerations for all types of entities in doing their regular activities and financial services industry is not exception to that. Only a good financial indicator may not ensure sustainability of an entity. Therefore, various legislations bind financial services industry for thinking about profit, people and planet all Together. At the same time, it is crucial for stakeholders to have sufficient, accurate and timely Information regarding organizational stance in these aspects for proper evaluation. An annual Sustainability report may serve the purpose. The main objective of the study is to reveal the practice of annual sustainability reporting by the financial services industry of Bangladesh. The Study is based on banks and non-bank financial institutions of Bangladesh as other financial organizations do publish sustainability report. Both primary and secondary data have been used to achieve the objectives of the study. Besides, interviews have been conducted to compile perceptions of reporting entities and regulatory bodies. It is observed that only four financial services firms are now preparing and publishing such reports following guidelines given by Global Reporting Initiative. Regulatory driven like intensive monitoring by the regulators may promote financial services sector to publish the report regularly.