The banking, financial services, and insurance industry is progressively incorporating environmental, social, and governance considerations to promote sustainable and responsible practices. This research concentrates on prioritizing the governance components within the ESG framework, highlighting their crucial influence on the BFSI sector. Utilizing an Analytic Hierarchy Process (AHP) combined with fuzzy logic, we systematically evaluate and rank governance factors for a robust decision-making framework based on expert insights from the BFSI sector. The AHP methodology structured and weighted governance criteria, while fuzzy logic addressed uncertainty and subjectivity in expert judgments. The findings identify the most crucial governance factors, offering valuable insights for stakeholders to strengthen governance practices and align them with ESG goals. This study contributes to sustainable finance literature by providing a comprehensive methodology for prioritizing governance aspects, promoting resilience and ethical standards in the BFSI sector.

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A Fuzzy Analytic Hierarchy Process Approach to Prioritize Governance Factors Within Environmental Social Governance Factors in the BFSI Sector

  • Geeta Maladkar,
  • B. Suresha,
  • Aparna Hawaldar,
  • R. Anuradha

摘要

The banking, financial services, and insurance industry is progressively incorporating environmental, social, and governance considerations to promote sustainable and responsible practices. This research concentrates on prioritizing the governance components within the ESG framework, highlighting their crucial influence on the BFSI sector. Utilizing an Analytic Hierarchy Process (AHP) combined with fuzzy logic, we systematically evaluate and rank governance factors for a robust decision-making framework based on expert insights from the BFSI sector. The AHP methodology structured and weighted governance criteria, while fuzzy logic addressed uncertainty and subjectivity in expert judgments. The findings identify the most crucial governance factors, offering valuable insights for stakeholders to strengthen governance practices and align them with ESG goals. This study contributes to sustainable finance literature by providing a comprehensive methodology for prioritizing governance aspects, promoting resilience and ethical standards in the BFSI sector.