Choosing the most suitable sustainability report standard for banking industry: A case study of Bank ABC

https://doi.org/10.35912/jdbm.v1i2.3326
Published: Aug 14, 2025

Abstract:

Purpose: This study aims to evaluate and prioritize sustainability reporting standards in the banking sector by identifying key criteria influencing their selection, with a particular focus on integrating local regulatory compliance and global best practices.

Research Methodology: The research employs a mixed-methods approach, beginning with qualitative interviews with key stakeholders and a literature review to identify relevant criteria. Insights from this phase inform the quantitative analysis using the Analytic Hierarchy Process (AHP). Five sustainability reporting experts from ABC Bank served as respondents, assessing alternative standards based on predetermined criteria derived from both interviews and literature studies.

Results: The findings indicate that “integration with financial metrics” and “use of technology” are the most critical criteria in selecting sustainability reporting standards. AHP analysis shows that while POJK 51 meets regulatory requirements, global frameworks such as GRI and SASB offer broader and more investor-oriented disclosures. Combining multiple standards provides a more comprehensive approach, though it demands greater resources and capacity.

Conclusion: The study concludes that hybrid adoption of local and global sustainability frameworks enhances reporting credibility, aligns with stakeholder expectations, and strengthens competitive positioning

Limitations: The small sample size of five experts from a single bank limits the generalizability of findings.

Contribution: This research provides empirical insights into the prioritization of sustainability reporting standards, offering practical guidance for banks and policymakers seeking to enhance ESG transparency and alignment with both domestic regulations and international standards.

Keywords:
1. Analytic Hierarchy Process
2. Banking Industry
3. GRI
4. POJK
5. SASB
6. Sustainability Report
Authors:
1 . Chintia Rudiyanto
Institut Teknologi Bandung, Indonesia
2 . Oktofa Yudha Sudrajad
Institut Teknologi Bandung, Indonesia
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Vol. 1 No. 2 (2025): August
Articles
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References

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    Bengo, I., Boni, L., & Sancino, A. (2022). EU Financial Regulations and Social Impact Measurement Practices: A Comprehensive Framework on Finance for Sustainable Development. Corporate social responsibility and environmental management, 29(4), 809-819. doi:https://doi.org/10.1002/csr.2235

    Chen, S.-H., Chen, Y.-J., & Leung, W.-C. (2023). Analyzing Differences in Customer Satisfaction on the Video Streaming Platform Netflix. Annals of Management and Organization Research, 4(3), 193-209. doi:https://doi.org/10.35912/amor.v4i3.1554

    Delia, A. R., & Sudrajad, O. Y. (2024). Enhancing Sustainable Banking Practices: Implementing the Besgi Framework to Indonesian Bank. International Journal of Current Science Research and Review, 7(1), 551-560. doi:https://doi.org/10.47191/ijcsrr/v7-i1-51

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    Sebrina, N., Taqwa, S., Afriyenti, M., & Septiari, D. (2023). Analysis of Sustainability Reporting Quality and Corporate Social Responsibility on Companies Listed on the Indonesia Stock exchange. Cogent Business & Management, 10(1), 1-28. doi:https://doi.org/10.1080/23311975.2022.2157975

    Sobhani, F. A., Amran, A., & Zainuddin, Y. (2009). Revisiting the Practices of Corporate Social and Environmental Disclosure in Bangladesh. Corporate social responsibility and environmental management, 16(3), 167-183. doi:https://doi.org/10.1002/csr.193

    Ulla, F., & Handayani, A. (2023). Collectibility Insights: Financial Analysis. INNOVATION RESEARCH JOURNAL, 4(2), 143-153. doi:https://doi.org/10.30587/innovation.v4i2.6877

    Zabartih, M. I., & Widhiarso, W. (2023). Information Technology Strategic Plan for Hospital using Ward and Peppard Model. Journal of Multidisciplinary Academic and Practice Studies, 1(4), 353-367. doi:https://doi.org/10.35912/jomaps.v1i4.1791

  1. Badrus, S., & Rahman, A. (2025). Efektivitas Green Financing dalam Mendukung Transisi Ekonomi Berkelanjutan di Negara Berkembang. Advanced Studies in Economic, Finance and Banking, 1(1), 61-72.
  2. Bans-Akutey, A., & Ebem, D. (2022). E-Leadership and Adaptation to Technological Development in Telecommunication Businesses in Ghana. Annals of Management and Organization Research, 3(4), 259-269. doi:https://doi.org/10.35912/amor.v3i4.1464
  3. Bengo, I., Boni, L., & Sancino, A. (2022). EU Financial Regulations and Social Impact Measurement Practices: A Comprehensive Framework on Finance for Sustainable Development. Corporate social responsibility and environmental management, 29(4), 809-819. doi:https://doi.org/10.1002/csr.2235
  4. Chen, S.-H., Chen, Y.-J., & Leung, W.-C. (2023). Analyzing Differences in Customer Satisfaction on the Video Streaming Platform Netflix. Annals of Management and Organization Research, 4(3), 193-209. doi:https://doi.org/10.35912/amor.v4i3.1554
  5. Delia, A. R., & Sudrajad, O. Y. (2024). Enhancing Sustainable Banking Practices: Implementing the Besgi Framework to Indonesian Bank. International Journal of Current Science Research and Review, 7(1), 551-560. doi:https://doi.org/10.47191/ijcsrr/v7-i1-51
  6. Dewi, N. N. S., & Rustiarini, N. W. (2024). Sustainability Reporting and Firm Value: Systematic Literature Review. Analisis, 14(2), 218-232. doi:http://dx.doi.org/10.37478/als.v14i2.4509
  7. Fleac?, B., Fleac?, E., & Coroc?escu, M. (2023). Sustainability Information–Analysis of Current Trends in Sustainability Monitoring & Reporting. Entrepreneurship and Sustainability Issues, 10(3), 274-287. doi:https://doi.org/10.9770/jesi.2023.10.3(18)
  8. Galletta, S., Mazzù, S., & Naciti, V. (2022). A Bibliometric Analysis of ESG Performance in the Banking Industry: From the Current Status to Future Directions. Research in International Business and Finance, 62. doi:https://doi.org/10.1016/j.ribaf.2022.101684
  9. Garg, M., & Kumar, P. (2024). Harnessing Digital Technologies for Triple Bottom Line Sustainability in the Banking Industry: A Bibliometric Review. Future Business Journal, 10(1), 1-23. doi:https://doi.org/10.1186/s43093-024-00336-2
  10. Gudmundsdottir, S., & Sigurjonsson, T. O. (2024). A Need for Standardized Approaches to Manage Sustainability Strategically. Sustainability, 16(6), 1-16. doi:https://doi.org/10.3390/su16062319
  11. Gunawan, J., Permatasari, P., & Sharma, U. (2022). Exploring Sustainability and Green Banking Disclosures: A Study of Banking Sector. Environment, Development and Sustainability, 24(9), 11153-11194. doi:https://doi.org/10.1007/s10668-021-01901-3
  12. Hahn, R., & Kühnen, M. (2013). Determinants of Sustainability Reporting: A Review of Results, Trends, Theory, and Opportunities in an Expanding Field of Research. Journal of Cleaner Production, 59, 5-21. doi:https://doi.org/10.1016/j.jclepro.2013.07.005
  13. Irianto, O., Adiatma, T., & Rachman, A. M. (2025). Digital Platforms for Sustainability Reporting: A Review of Bridging Business Ethics and Economic Transformation. Account and Financial Management Journal, 10(2), 3491-3500. doi:https://doi.org/10.47191/afmj/v10i2.01
  14. Jareh, A. (2025). Sustainable Social Innovation as a Solution for Systemic Change and Resilience. Sustainability, 17(4), 1-21. doi:https://doi.org/10.3390/su17041583
  15. Kekeocha, M., Anoke, A., Chukwuemeka-Onuzulike, N., & Ngozi, N. (2023). Work-Life Balance and Employees’ Commitment in Plastics Manufacturing Firms in Anambra State, Nigeria. Annals of Human Resource Management Research, 3(2), 141-154. doi:https://doi.org/10.35912/ahrmr.v3i2.2047
  16. Kumar, K., & Prakash, A. (2019). Examination of Sustainability Reporting Practices in Indian Banking Sector. Asian Journal of Sustainability and Social Responsibility, 4(1), 1-16. doi:https://doi.org/10.1186/s41180-018-0022-2
  17. Limarwati, D., Alfiyani, Y. S. R., & Firmansyah, A. (2024). Laporan Keberlanjutan: Manfaat dan Perkembangan Standar. Jurnalku, 4(1), 101-112. doi:https://doi.org/10.54957/jurnalku.v4i1.635
  18. Manase, L., Idris, H., & Afiah, N. (2022). Faktor-Faktor yang Memengaruhi Pengungkapan Sustainability Report pada Perusahaan Perbankan. JIAN: Jurnal Ilmiah Akuntansi Dan Keuangan, 1(1), 20-26.
  19. Petersen, A., Herbert, S., & Daniels, N. (2022). The Likely Adoption of the IFRS Foundation's Proposed Sustainability Reporting Standards. The Business & Management Review, 13(2), 23-33. doi:https://doi.org/10.24052/bmr/v13nu02/art-03
  20. Restu, A., Gamayuni, R. R., & Yuliansyah, Y. (2024). Adopting an Enterprise Resource Planning System in Village Government. Journal of Governance and Accountability Studies, 4(1), 1-17. doi:https://doi.org/10.35912/jgas.v4i1.1906
  21. Rinayuhani, T. R., Arisandi, R. S., & Sutrisno, E. (2024). Energy Transition Energy transition: Looking at Village Perceptions of the Energy Independent Village Program in Mojokerto Regency. Journal of Multidisciplinary Academic and Practice Studies, 2(2), 121-130. doi:https://doi.org/10.35912/jomaps.v2i2.1912
  22. Rozalina, N., & Ellitan, L. (2024). Achieving Sustainability and Improving Global Business Performance Through Business Ethics and Corporate Social Responsibility. Eksis: Jurnal Riset Ekonomi Dan Bisnis, 19(1), 1-12. doi:https://doi.org/10.26533/eksis.v19i1.1286
  23. Saaty, T. L. (2001). Decision Making for Leaders: The Analytic Hierarchy Process for Decisions in a Complex World. Pittsburgh: RWS Publications.
  24. Sebrina, N., Taqwa, S., Afriyenti, M., & Septiari, D. (2023). Analysis of Sustainability Reporting Quality and Corporate Social Responsibility on Companies Listed on the Indonesia Stock exchange. Cogent Business & Management, 10(1), 1-28. doi:https://doi.org/10.1080/23311975.2022.2157975
  25. Sobhani, F. A., Amran, A., & Zainuddin, Y. (2009). Revisiting the Practices of Corporate Social and Environmental Disclosure in Bangladesh. Corporate social responsibility and environmental management, 16(3), 167-183. doi:https://doi.org/10.1002/csr.193
  26. Ulla, F., & Handayani, A. (2023). Collectibility Insights: Financial Analysis. INNOVATION RESEARCH JOURNAL, 4(2), 143-153. doi:https://doi.org/10.30587/innovation.v4i2.6877
  27. Zabartih, M. I., & Widhiarso, W. (2023). Information Technology Strategic Plan for Hospital using Ward and Peppard Model. Journal of Multidisciplinary Academic and Practice Studies, 1(4), 353-367. doi:https://doi.org/10.35912/jomaps.v1i4.1791