Correlation table between literature analysis and practical cases
| NFR variables (Turzo et al., 2022; Brescia and Campra, 2023) | Bibliometric analysis | Italian bank NFR 2021 on y. 2019 Italian banks | Italian bank NFR 2022 on y. 2021 Italian banks | Italian bank NFR 2023 on y. 2022 Italian banks |
|---|---|---|---|---|
| SDGs | x | X | X | X |
| Financial and non-financial and value | X Only financial value for shareholders (value of loans and distribution of dividends) | X | X | |
| IIRC six capital | x | X | X | X |
| Intellectual capital and value | ||||
| IIRC framework affects the quality of corporate information | ||||
| Forecasting | X KPI and new technologies (such as machine learning) | |||
| Social legitimacy | X (partial) | X | ||
| Support decision-making process | X and reduces risk or grant loans | X | X (adding view of social aspects such as personnel management, gender equality, and dialogue with stakeholders) | x |
| Gender diversification of the board | x | X | X | |
| Internal committees and quality of information | X | |||
| Institutional push to adopt SDGs | X (management of the bank affected by ESG) | |||
| Managerial approach to report non-financial activities | X | |||
| Adoption of mandatory rules to legitimise activities and reduce risks of greenwashing | ||||
| Reduce insurance costs and risks | X and reduces risk or grant loans | |||
| Decupling information and access to unique data | X (focus on the impact of digitalization of the system) | X (supporting system for due diligence) | ||
| Environment and GRI adoption | x | X | ||
| gas emissions, energy consumption, and use of materials | X (focusing on electric mobility, use of clean energy, elimination of plastic materials) | X | X (based on GRI standards social and environmental aspects as use of energies) | |
| Presentation of investment | X | X | X (based on ESG criteria and metrics) | |
| External audit to guarantee information | X (based on mandatory information and considering SDGs) | |||
| Disclosure and measurement of green investment | X based on taxonomy | X (reclassifying financial statement elements based on sustainable investments) | ||
| Common standard (es. GRI) for materiality | X (involving stakeholders in the decision-making process) | X (considering positive and negative impacts involving stakeholders in the dialogue) | ||
| Common standard (es. GRI) for comparability | X GRI 2016 | X GRI 2016 | X GRI 2021 | |
| Common standard (es. GRI) to detect benchmark | ||||
| Standard approach of communication and employee’s satisfaction based on graduates’ approach | X (internal communication oriented towards a balance between private, family and work life, employee support activities, and welfare plans) | X | ||
| Taxonomy and circular economy | ||||
| Green Bond Portfolio | X | |||
| Legal, Philanthropic, and Ethical dimensions affect financial results | X Moral code and introduction of diversity as value (associated with training on corporate employee diversity) + Corporate governance and gender equity | X Ethical code (attention to the natural environment, climate change, health, work, well-being of the entire community, protection of social relationships) | ||
| ESG harmonization indexes in Europe | X (only based on loans and energy intensity index) and due diligence approach and value chain mitigation activities relating to suppliers |
| NFR variables ( | Bibliometric analysis | Italian bank NFR 2021 on y. 2019 Italian banks | Italian bank NFR 2022 on y. 2021 Italian banks | Italian bank NFR 2023 on y. 2022 Italian banks |
|---|---|---|---|---|
| SDGs | x | X | X | X |
| Financial and non-financial and value | X Only financial value for shareholders (value of loans and distribution of dividends) | X | X | |
| IIRC six capital | x | X | X | X |
| Intellectual capital and value | ||||
| IIRC framework affects the quality of corporate information | ||||
| Forecasting | X KPI and new technologies (such as machine learning) | |||
| Social legitimacy | X (partial) | X | ||
| Support decision-making process | X and reduces risk or grant loans | X | X (adding view of social aspects such as personnel management, gender equality, and dialogue with stakeholders) | x |
| Gender diversification of the board | x | X | X | |
| Internal committees and quality of information | X | |||
| Institutional push to adopt SDGs | X (management of the bank affected by ESG) | |||
| Managerial approach to report non-financial activities | X | |||
| Adoption of mandatory rules to legitimise activities and reduce risks of greenwashing | ||||
| Reduce insurance costs and risks | X and reduces risk or grant loans | |||
| Decupling information and access to unique data | X (focus on the impact of digitalization of the system) | X (supporting system for due diligence) | ||
| Environment and GRI adoption | x | X | ||
| gas emissions, energy consumption, and use of materials | X (focusing on electric mobility, use of clean energy, elimination of plastic materials) | X | X (based on GRI standards social and environmental aspects as use of energies) | |
| Presentation of investment | X | X | X (based on ESG criteria and metrics) | |
| External audit to guarantee information | X (based on mandatory information and considering SDGs) | |||
| Disclosure and measurement of green investment | X based on taxonomy | X (reclassifying financial statement elements based on sustainable investments) | ||
| Common standard (es. GRI) for materiality | X (involving stakeholders in the decision-making process) | X (considering positive and negative impacts involving stakeholders in the dialogue) | ||
| Common standard (es. GRI) for comparability | X GRI 2016 | X GRI 2016 | X GRI 2021 | |
| Common standard (es. GRI) to detect benchmark | ||||
| Standard approach of communication and employee’s satisfaction based on graduates’ approach | X (internal communication oriented towards a balance between private, family and work life, employee support activities, and welfare plans) | X | ||
| Taxonomy and circular economy | ||||
| Green Bond Portfolio | X | |||
| Legal, Philanthropic, and Ethical dimensions affect financial results | X Moral code and introduction of diversity as value (associated with training on corporate employee diversity) + Corporate governance and gender equity | X Ethical code (attention to the natural environment, climate change, health, work, well-being of the entire community, protection of social relationships) | ||
| ESG harmonization indexes in Europe | X (only based on loans and energy intensity index) and due diligence approach and value chain mitigation activities relating to suppliers |
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