Sustainability adaptation in Swedish banks: evidence from senior bank leaders
基于2020-2023年对102家瑞典银行593位高级领导者的调查，运用计划行为理论分析监管感知，发现可持续知识提升合规态度，银行规模影响战略适应，监管沟通促进运营适应，对欧盟银行业有参考价值。
Prudent bank governance is critical in the transition towards long-term sustainability targets, with senior bank leaders accountable for ensuring responsible business decisions and transparent banking operations that meet regulatory requirements for environmental, social, and governance (‘ESG’) standards. We explore the adaptation of Swedish banks to sustainability frameworks using unique survey data from 593 senior bank leaders across 102 Swedish banks between 2020 and 2023. Our empirical design draws on the theory of planned behaviour to elicit regulatory perceptions. The results demonstrate that sustainability knowledge is key to enhancing senior leaders’ attitudes towards regulatory compliance and underpinning both strategic and operational ESG adaptation. Larger bank size supports strategic adaptation, with leaders stressing the importance of regulatory communication to ensure operational adaptation, and viewing well-designed regulation as instrumental to strategic adaptation. With broad relevance to European Union (EU) banking sectors sharing similar cultural contexts and ESG regulatory frameworks, our findings offer valuable insights for regulatory bodies and practitioners. Our research highlights the importance of sustainability-focused training and communication to promote ethical behaviour and secure successful long-term sustainability adaptation, which is particularly valuable as EU regulators evaluate the Sustainable Finance Disclosure Regulation.