Key Drivers of Sustainability Practices in the UK Banking Sector: implications for Sustainable Development Goals

Ekene Ekemezie (Nwafor Orizu College of Education, Nsugbe, Anambra State)
Kaodilichukwu Augustine Echem (University of Northampton)

Journal of Gender and Millennium Development Studies
Vol. 2 No. 1 (2025): Journal of Gender and Millennium Development Studies, 2(1), 2025

Background: This study investigates the key drivers influencing sustainability practices in the UK banking sector amid increasing global expectations aligned with the Sustainable Development Goals (SDGs). Objective: To explore stakeholder perceptions regarding banks’ sustainability efforts. Method: A quantitative research design was employed using an online survey administered to 191 randomly selected respondents from a population of 2.5 million stakeholders, including bank executives, employees, customers, investors, regulators, and advocacy groups. Data were collected through structured questionnaires and analyzed using descriptive statistics and t-tests. Results: The findings indicate that community engagement, corporate social responsibility, credible sustainability reporting, and financial performance significantly influence stakeholder perceptions. Conversely, transparency in reporting was not widely perceived as impactful. T-test results revealed no statistically significant factors, thereby supporting the null hypothesis. Conclusion: While UK banks exhibit alignment with SDGs 8, 9, 11, 12, 13, and 16, weak governmental influence underscores the need for stronger policy frameworks and intersectoral collaboration. Originality/Value: This study provides novel empirical insights in the field of sustainable finance, corporate governance, and banking management by uncovering key drivers of sustainability practices, such as community engagement, corporate social responsibility, credible reporting, and financial performance, alongside the observed weak governmental influence regarding multistakeholder perceptions toward environmental, social, and governance integration within the context of advancing the Sustainable Development Goals across the United Kingdom banking sector, which remains understudied. These findings enrich the existing literature and serve as a strategic reference for financial regulators, bank executives, and public policy architects in strengthening institutional policy frameworks, advancing stakeholder education, and embedding sustainability imperatives into core banking operations.