Linking strategic communication and sustainability reporting. Exploring corporate websites of Georgian Banks

Abstract

Framing of the research: Corporate sustainability contributes to economic, social, and environmental pillars in consonance with Sustainable Development Goals (SDGs). This involves that corporate strategies and actions need to be aligned with the United Nations’ SDGs, which are a global framework to address issues like poverty, inequality, and climate change by 2030. Sustainable businesses aim to meet these global objectives through responsible strategies that support economic, social, and environmental goals. Following this perspective, the study focuses on how companies adopt strategic communication approach to report their sustainability efforts through corporate websites. Purpose of the paper: This paper analyses the existing link between strategic communication and CSR/Sustainability in the banking sector in an emerging country. Methodology: The multiple case study applied for this research intends to analyse the companies’ (two banks and two microfinance organizations) communication efforts regarding CSR and/ or Sustainability. Strategic communication aspects of CSR are explored from the organizations’ websites using a qualitative content analysis research approach. Findings: Banks in Georgia invest heavily in CSR and Sustainability programs to demonstrate their social and ecological orientations. Special attention is devoted to education, charity, and ecological projects. However, the strategic communication lacks the comprehensiveness and coherence. The researched financial companies tend to communicate information on their websites about CSR programs and results without presenting information about the CSR process. Research limits: The paper shows several limitations. It focussed on selected items to analyse the role of strategic communication in boosting CSR. Future research can be devoted to the cultural dimensions of strategic communication of CSR to different groups of stakeholders by analysing various communication channels. Implications: Our results have implications for CSR and sustainability theory and practice. This research contributes to the literature by examining strategic communication aspects of CSR/sustainability reporting on corporate websites in the financial industry and by highlighting the unique challenges and opportunities in this regard in emerging economies. Thus, managers and communication professionals should not only present a report on corporate websites but consider more long-term oriented strategic communication. Originality of the paper: The CSR programs carried out by the analysed companies are considering their financial capacity and desire to enhance their public image, improve their reputation and attract investors. Accordingly, CSR and sustainability communication of finance companies in Georgia is significant not only for their success, reputation, and brand image but also for promoting sustainable practices and contributing to the economic and social development of the country.