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| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Gender Effects in Sustainability Awareness in the Finance Industry |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 67 |
| Date | 2023 |
| Zusammenfassung | As our world rapidly changes, with the temperature rising and natural disasters appearing more frequently, there is a growing need to act sustainably and responsibly. People, companies, governments, and organizations are all expected to take more responsibility for their impact on the environment by adapting to new standards and rules and implementing innovative solutions. Over the last few decades, "sustainability" has become a buzzword in almost every facet of life. However, its broad scope makes it difficult to define and truly understand. The purpose of this thesis is to contribute to the ongoing discussion about sustainability by embedding it into the realm of finance. This study analyzes the viewpoints of finance professionals on sustainability within their industry, as well as their attitudes and actions regarding sustainable investment choices. To accomplish this, an online questionnaire of 29 questions was carried out in collaboration with Bilendi & Respondi, an online market research provider. They supplied 100 suitable participants from Germany. Previous literature proposes that women tend to be more environmentally and socially aware. Therefore, this thesis aims to explore the validity of this claim. Specifically, it examines the level of awareness among finance professionals and whether women are more inclined towards sustainable choices than men when making investment decisions. Additionally, the study examines individuals’ investment behavior involving gold and diamond. These investment choices should represent the mining industries, which are known for their negative environmental impact but remain attractive for investment opportunities. The study explores the idea that men and women make similar investment decisions when it comes to investing in gold or diamond. Lastly, the study aims to see if employees in the finance sector acknowledge board diversity as a factor in driving sustainable finance practices. A comprehensive background on sustainability is provided to familiarize the reader with the concept. It then contextualizes sustainability in the finance industry and briefly outlines commonly used terms like green or climate finance, as well as existing solutions like green bonds. The subsequent section reviews existing literature on sustainability awareness and gender differences in this area. The thesis presents the data used for the analysis, following the outlines of the methodology of creating an online questionnaire. Finally, the results are analyzed in detail, with each question's outcome presented in graphs and tables and key findings commented on. The study discovered that among employees in the finance industry, men tend to have stronger positive attitudes toward sustainability, including sustainability initiatives and practices in the industry, compared to women. Specifically on their behavior in investment decision-making, men were more likely to actively support sustainable finance options. Women have shown a diverse range of viewpoints, sometimes contradicted their own beliefs, and often opted to remain impartial. These findings indicate that gender differences exist in sustainability-related behaviors and decision-making in the finance industry. This goes against the previously held notion. Moreover, there is no clear agreement on the importance of board diversity for driving sustainable investments among finance professionals. Although opinions on the matter are diverse and widespread, there seems to be a leaning toward agreement rather than disagreement, as indicated by the results. These findings underscore the importance of acknowledging and addressing gender differences in sustainability practices and awareness in finance. The thesis thus contributes valuable insights into the interplay between gender and sustainability in the financial sector, with implications for future policymaking and research. |
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