Social Responsibility in Financial system – Economic and socio-enviRonmental performances – SFERA

The rapid evolution and application of the CSR among organizations emphasizes the need for a clear definition of CSR within the financial sector and a subsequent declination among companies operating in the financial system, with different mission, values and governance models. The study aims to analyze both the role and the implementation of the Corporate Social Responsibility concept and practices in the banking sector, specifically within organizations characterized by distinctive corporate governance models as the Banche Popolari, in Italy. Theoretical analysis has been developed in parallel with specific evaluation methodologies. Benchmarking on sustainability reporting seems particularly successful to define the social-environmental value-added of those banks, such as public limited companies, adopting an explicit model of CSR. Conversely, it results a less adequate evaluation tool for other forms of banks, as “Banche Popolari”, following an implicit socially responsible approach. For such corporations the creation of a set of indicators, specifically focused on the monitoring of intangibles aspects, intended to represent the greater complexity around CSR within the cooperative banking, appear to be a more effective methodology.