An institutional perspective on the shifts in banking and capitalist ideology: ‎sustainability, social, and environmental insights

Abstract

Purpose – This paper investigates the development of moralised business ideologies (MBIs) among sustainable banks as they navigate social and environmental business prospects. Methodology –Empirical evidence is drawn from top-management-level interviews with 16 UK-based small and medium-sized banks that specialise in financing social and environmental projects. Findings – MBIs have emerged in the literature review and empirical data analysis as a new concept taken on by sustainable banks with roots closer to MBIs such as ethical practices, moralised values, sustainable business models, and ecological standards. The results confirm that MBIs help banking institutions to create a more sustained positive impact in terms of social and environmental business opportunities. Originality– This paper offers novel evidence on the intersection between banking and MBIs with a focus on social and environmental considerations.