The global banking & payments industry experienced a 170% rise in company filings mentions of social responsibility in Q1 2023 compared with the previous quarter, with the highest share accounted for by Westpac Banking with 2419% year-on-year increase, according to GlobalData’s analysis of over 1,024 banking & payments company filings. The key social themes, commitment details of leading companies to social responsibility, and discussions and hiring activity for social responsibility in Banking & Payments and 15 other key sectors are covered in GlobalData’s Social Responsibility Trends by Sector – Thematic Intelligence report. Buy the report here.
Notably, social responsibility was one of the most frequently referenced themes in Q1 2023, ranking highest in terms of mentions, ahead of batteries and environment, according to GlobalData.
Of the 50 leading companies in the banking & payments industry, Westpac Banking had the greatest increase in references for social responsibility in Q1 2023, compared with the previous quarter. GlobalData identified 403 social responsibility-related sentences in the company's filings, an increase of 1900% in Q1 2023 compared with Q4 2022. HSBC’s mentions of social responsibility rose by 14200% to 286 and Toronto-Dominion Bank’s by 6000% to 184 and Canadian Imperial Bank of Commerce’s by 800% to 139 and China Merchants Bank’s by 13700% to 138.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for social responsibility in Q1 2023 was 90.
To further understand GlobalData's analysis on Social Responsibility Trends by Sector – Thematic Intelligence, buy the report here.