THE IMPACT OF BOARD’S GENDER DIVERSITY ON BANKS’ ENVIRONMENTAL PERFORMANCE

This study responds to the need for deeper empirical investigations on the relationship between Gender Diversity (GD) and Environmental Responsibility within the banking industry. Specifically, this study investigates how female empowerment within banks boards might lead to the greater environmental performance of these organizations. To address the research question, the current study is based on a sample of 132 worldwide banks, for a time window spanning from 2009 to 2020. As a whole, results from fixed effect panel regressions indicate a positive impact of the GD on the environmental engagement of banks. Furthermore, disentangling environmental performance, banks with higher female participation within boards reach better performance in terms of use of natural resources and environmental innovation. These findings are relevant for new banking models and spillover benefits to the worldwide community.