Change Management and Sustainable Development in the Banking Industry

Ochuko Mary Amori & Adetunji Moses Oluwaniyi , Volume 5 Issue 2, December 2024 Pages 89-95, Published: 2024-12-05

Abstract

The study investigated change management and sustainable development in the Banking Industry. The dimensions of change management vis a vis (carbon footprint reduction, customer engagement and satisfaction and integration of ESG on sustainable development). Data were collected through a survey research design using a structured questionnaire for the entire target population of 172 employees from some selected money deposit money banks in Marina, Lagos Nigeria. The study adopted multiple linear regressions with the use of SPSS version 26 software to analyze the descriptive and inferential statistics of the data. The findings revealed that carbon footprint reduction, customer engagement and satisfaction, and integration of ESG have significant effect on sustainable development with p-value > 0.000 respectively. The study concluded that reduced carbon footprints, customer involvement and the incorporation of ESG standards are all major predictors of sustainable development.The study therefore, recommended that banks should give precedence to mitigating their carbon footprint through the implementation of strategies, create high priority on client engagement and satisfaction by initiating financial literacy programs and prioritize integrating ESG criteria into their operations through the implementation of sustainable investment policies.