Marketing sustainable financial products to specific target segments: the case of the Italian market
Signorini, Alessandro
Torosantucci, Gaetana
Torosantucci, Gaetana
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Abstract
Originality of the study. Sustainability is generally classified as the balance between economic, social, and environmental factors in the decision making of an organization (Ralph and Strubbs, 2014). In order to fill the criteria of sustainability, the organizational decisions must constantly try to ensure economic stability and growth in the long term, strive to social equity, and preserve the natural environment for the future generations (UNESCO, 2011).
This article focuses on one specific aspect of sustainability, sustainable banking, that can be defined as the attempt from commercial and investment banks to include sustainability and social responsibility factors in their operations. In particular, the emphasis is on the offer of banking and financial products and services that have social and environmental sustainable elements along with economic stability and profitability (Boitan, 2015). The inclusion of sustainable elements can be based on a voluntary and independent initiative that banks implement in order to better match the needs of their consumers. Alternatively, banks can adhere to established sustainability frameworks that offer guidelines on how banking and financial products can incorporate sustainable factors (Boitan, 2015). The three most common and well-known frameworks are the Equator Principles, the United Nations Global Compact, and the United Nations Environment Program Financial Initiative (http://www.equator-principles.com, www.unglobalcompact.org, www.unepfi.org).
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Date
2019
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Research Projects
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Keywords
Sustainability, Management and sustainability, Sustainable banking
Citation
Signorini, Alessandro, and Gaetana Torosantucci. “Marketing Sustainable Financial Products to Specific Target Segments: The Case of the Italian Market ,” 61–65, 2019.