Corporate social responsibility (CSR) consistently attracts debates from academia, politicians, the media, policymakers, and business leaders on its role in the community. While CSR plays a vital role in the Global North, its portrayal in the Global South is reviewed with a black eye. Therefore, with a need to attain the UN Sustainable Development Goals (SDG) by 2030, this chapter focuses on the politics of CSR in the banking sector and how it aligns with the SDGs of No Poverty and Quality Education, drawing examples of Uganda’s Stanbic Bank and Nigeria’s Zenith Bank. Ratio analysis was utilized to analyze Stanbic Bank and Zenith Bank’s annual financial and sustainability reports from 2019 to 2023, showcasing exact percentages of their yearly profits against their annual Corporate Social Investments (CSI). Findings reveal that these banks invest less than 1.3 percent of their annual profits in corporate social investments. Therefore, we recommend that African governments design legislation that enforces corporations to invest at least 5 percent of their annual profits in CSR initiatives, providing a substantive contribution to the UN SDGs.

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The Politics of CSR in the Banking Sector: How Does It Align with the SDGs of No Poverty and Quality Education?

  • Richard Mbayo,
  • Kehinde M. Ige

摘要

Corporate social responsibility (CSR) consistently attracts debates from academia, politicians, the media, policymakers, and business leaders on its role in the community. While CSR plays a vital role in the Global North, its portrayal in the Global South is reviewed with a black eye. Therefore, with a need to attain the UN Sustainable Development Goals (SDG) by 2030, this chapter focuses on the politics of CSR in the banking sector and how it aligns with the SDGs of No Poverty and Quality Education, drawing examples of Uganda’s Stanbic Bank and Nigeria’s Zenith Bank. Ratio analysis was utilized to analyze Stanbic Bank and Zenith Bank’s annual financial and sustainability reports from 2019 to 2023, showcasing exact percentages of their yearly profits against their annual Corporate Social Investments (CSI). Findings reveal that these banks invest less than 1.3 percent of their annual profits in corporate social investments. Therefore, we recommend that African governments design legislation that enforces corporations to invest at least 5 percent of their annual profits in CSR initiatives, providing a substantive contribution to the UN SDGs.