{"title":"在做得好的同时做得好?ESG管理是西班牙大型银行影响导向可持续融资的障碍","authors":"Clara García, Fabio Casalegno","doi":"10.1002/csr.70068","DOIUrl":null,"url":null,"abstract":"<p>Addressing environmental and social sustainability challenges demands significant private financing. In response, financial institutions globally—including major Spanish banks—have increasingly adopted sustainable finance (SF). However, persistent greenwashing concerns question whether these practices meaningfully advance sustainability objectives. This thematic analysis identifies institutional obstacles preventing Spanish banks from translating SF commitments into tangible outcomes. It investigates both implementation practices and the influence of inter-organizational relationships. The findings reveal successful SF institutionalization at the organizational level, yet constrained within ESG management frameworks. This approach emphasizes financial materiality while neglecting impact materiality, creating barriers to genuine impact-oriented SF that requires double-materiality integration. Ultimately, this ESG-focused institutionalization enables financial institutions to “do well” (financially) while presuming they “do good”—despite inadequate impact accountability. Consequently, current SF commitments and practices may fail to drive substantial sustainability progress.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"32 5","pages":"6937-6950"},"PeriodicalIF":9.1000,"publicationDate":"2025-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.70068","citationCount":"0","resultStr":"{\"title\":\"Doing Good While Doing Well? ESG Management as an Obstacle to Impact-Oriented Sustainable Finance in Large Spanish Banks\",\"authors\":\"Clara García, Fabio Casalegno\",\"doi\":\"10.1002/csr.70068\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>Addressing environmental and social sustainability challenges demands significant private financing. In response, financial institutions globally—including major Spanish banks—have increasingly adopted sustainable finance (SF). However, persistent greenwashing concerns question whether these practices meaningfully advance sustainability objectives. This thematic analysis identifies institutional obstacles preventing Spanish banks from translating SF commitments into tangible outcomes. It investigates both implementation practices and the influence of inter-organizational relationships. The findings reveal successful SF institutionalization at the organizational level, yet constrained within ESG management frameworks. This approach emphasizes financial materiality while neglecting impact materiality, creating barriers to genuine impact-oriented SF that requires double-materiality integration. Ultimately, this ESG-focused institutionalization enables financial institutions to “do well” (financially) while presuming they “do good”—despite inadequate impact accountability. Consequently, current SF commitments and practices may fail to drive substantial sustainability progress.</p>\",\"PeriodicalId\":48334,\"journal\":{\"name\":\"Corporate Social Responsibility and Environmental Management\",\"volume\":\"32 5\",\"pages\":\"6937-6950\"},\"PeriodicalIF\":9.1000,\"publicationDate\":\"2025-07-14\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.70068\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Corporate Social Responsibility and Environmental Management\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1002/csr.70068\",\"RegionNum\":2,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Corporate Social Responsibility and Environmental Management","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/csr.70068","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
Doing Good While Doing Well? ESG Management as an Obstacle to Impact-Oriented Sustainable Finance in Large Spanish Banks
Addressing environmental and social sustainability challenges demands significant private financing. In response, financial institutions globally—including major Spanish banks—have increasingly adopted sustainable finance (SF). However, persistent greenwashing concerns question whether these practices meaningfully advance sustainability objectives. This thematic analysis identifies institutional obstacles preventing Spanish banks from translating SF commitments into tangible outcomes. It investigates both implementation practices and the influence of inter-organizational relationships. The findings reveal successful SF institutionalization at the organizational level, yet constrained within ESG management frameworks. This approach emphasizes financial materiality while neglecting impact materiality, creating barriers to genuine impact-oriented SF that requires double-materiality integration. Ultimately, this ESG-focused institutionalization enables financial institutions to “do well” (financially) while presuming they “do good”—despite inadequate impact accountability. Consequently, current SF commitments and practices may fail to drive substantial sustainability progress.
期刊介绍:
Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas.
The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.