Much ado about nothing? How banks respond to climate change

Furrer, Bettina; Hamprecht, Jens; Hoffmann, Volker

doi:10.1177/0007650311427428

Publication type:	Article in scientific journal
Type of review:	Peer review (publication)
Title:	Much ado about nothing? How banks respond to climate change
Authors:	Furrer, Bettina Hamprecht, Jens Hoffmann, Volker
DOI:	10.1177/0007650311427428
Published in:	Business & Society
Volume(Issue):	51
Issue:	1
Page(s):	62
Pages to:	88
Issue Date:	2012
Publisher / Ed. Institution:	Sage
ISSN:	0007-6503 1552-4205
Language:	English
Subjects:	Strategic change; Decoupling; Symbolic action; Service sector; Substantive action; Climate strategy
Subject (DDC):	332.1: Banks
Abstract:	The effect of the financial sector on climate change remains largely underestimated. Banks can steer investments of their customers in low-emission technologies and adjust the conditions of loans that they provide to greenhouse gas intensive sectors. However, the authors’ research shows that few banks take such substantive action when they implement their climate strategy. The authors analyze 114 listed banks around the world and find evidence for deflective decoupling. This evidence means that banks that implement a climate strategy often decouple it from their main value creating processes such as lending and investment. Those banks that engage in more substantive action still combine it with symbolic activities which may facilitate the strategic change process. This study contributes to the literature on organizations and the natural environment as the authors specify which kind of banks implement substantive climate strategies. This research holds important implications for policy makers and managers who aim to implement a climate strategy in organizations that create value through information and financial flows but not with a physical transfer of goods.
URI:	https://digitalcollection.zhaw.ch/handle/11475/15779
Fulltext version:	Published version
License (according to publishing contract):	Licence according to publishing contract
Departement:	School of Engineering
Organisational Unit:	Institute of Sustainable Development (INE)
Appears in collections:	Publikationen School of Engineering

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Furrer, B., Hamprecht, J., & Hoffmann, V. (2012). Much ado about nothing? How banks respond to climate change. Business & Society, 51(1), 62–88. https://doi.org/10.1177/0007650311427428

Furrer, B., Hamprecht, J. and Hoffmann, V. (2012) ‘Much ado about nothing? How banks respond to climate change’, Business & Society, 51(1), pp. 62–88. Available at: https://doi.org/10.1177/0007650311427428.

B. Furrer, J. Hamprecht, and V. Hoffmann, “Much ado about nothing? How banks respond to climate change,” Business & Society, vol. 51, no. 1, pp. 62–88, 2012, doi: 10.1177/0007650311427428.

FURRER, Bettina, Jens HAMPRECHT und Volker HOFFMANN, 2012. Much ado about nothing? How banks respond to climate change. Business & Society. 2012. Bd. 51, Nr. 1, S. 62–88. DOI 10.1177/0007650311427428

Furrer, Bettina, Jens Hamprecht, and Volker Hoffmann. 2012. “Much Ado About Nothing? How Banks Respond to Climate Change.” Business & Society 51 (1): 62–88. https://doi.org/10.1177/0007650311427428.

Furrer, Bettina, et al. “Much Ado About Nothing? How Banks Respond to Climate Change.” Business & Society, vol. 51, no. 1, 2012, pp. 62–88, https://doi.org/10.1177/0007650311427428.